Small and Medium Scale Industries, SME, means a corporation or an enterprise that is initialized with very small budgets with low sales volume and less number of employees unlike the large or the regular sized business or corporation. It is usually privately owned with sole traders.
The biggest advantage of this small business is a creating an employment per unit of capita. Few of this Small Scale Industries (SSI) would include grocery shop, event management, wedding planner, bakery shops, chocolate makers, automobile dealers, agricultural firms, translation services, home tuitions, yoga classes; just beyond anything you can think of. They may range from our local baniyas to home saloon services. These small ventures not only provide independence but freedom from too many bosses in large scale industries.
These businesses are basically the product of innovative thought of an individual person irrespective of the education who would begin employing few people as the business sees the growth. Those people, who sit idle, get a chance to work in these SMEs and help in employment growth. Despite being small in size, these businesses generate money which in turn helps in economic development of the nation. This would further help in transforming India’s image from less employed nation to more employed nation, i.e, from a job-seeking nation to job-creating nation. These small businesses pull in the talent which went unnoticed by the big business vendors and can also change their work in style as compared to the large businesses. This will not only provide flexibility but would also encourage creative of an employee.
However, most of the large businesses rely upon small businesses in order to complete their tasks on time. SMEs manufacture raw material such as cotton needed to finish the big projects of the large agricultural business. But these small businesses are always in direct contact with the customers so they can cater them as per their needs with much proficiency. It is always the SMEs who have much experience in terms of sales and manufacturing due to the continuous contact with the customer, thus, it is wise to opt to get products from them. They have actually scrutinized the area, the markets; and also the requirements based upon their personal market research experience and then have prepared the product. So, the products made by SMEs are much better.
Small businesses not only help to encourage local handicrafts but also the artisans to update with their technical skills. They are basically a mean to offer source of income to the localities. Indeed, helping not only the national state to develop but also promote equitable distribution of the national income. This approach does not mean just to create productive environment, to build up modern and efficient infrastructure but also to open up new sectors for foreign capital. They are, in fact, backbone of India’s economy. SME are the engine of the overall support system of the nation, which would include creating jobs, reducing poverty and increasing the employment.
Agree, we all live in the era where branded products mean much. But using the national product would mean much to the nation not only economically but also for other things too. It is the basic initiative of making India a global hub in various ways.
Well, don’t think SMEs would mean just the traditional touch of the nation. Many of the SMEs are adopting the digital way and accepting the e-commerce industry. This is to bring about change and getting updated with modern touch. The artisans and localities are getting used with new technologies and ultimately giving rise to the fusion products.
So, don’t you all think that the fusion product with an ethnic look is much better than purchasing the typical branded products!!!
So, don’t you all think to contribute a bit of yours in the development of the nation by supporting the SMEs!!!
Just give it a thought…
Begin Supporting Small and Medium Scale Industries for the Overall Growth of the Nation…