What is Venture Capital? Venture capital is a method of business funding for companies that are looking to grow beyond normal rates of business growth. Venture capital is the money that comes into the business to help fuel growth. It is a form of equity investment where the investor who gives money also gets partial
What is Family Business? Family businesses are the lifeline of any economy. It is estimated that globally family businesses contribute around 70%–90% of the global GDP. India is no exception. Family firms are an important part of Indian culture and businesses. Much of the retail trade, the small-scale industry, and the service sector are run
Different Views on Entrepreneurship These are the different views on entrepreneurship by scholars: Schumpeter’s View on Entrepreneurship According to him, entrepreneurship is essentially a creative activity. It consists of doing such things as are generally not done in the ordinary course of business. An entrepreneur is one who innovates i.e., carries out new combinations of
Who is an Entrepreneur? Oxford English Dictionary defines an entrepreneur as ‘one who undertakes an enterprise, especially a contractor acting as an intermediary between capital and labor.’ The undertaking of an enterprise involves combining capital and labor for the purpose of production. Anyone who undertakes this task is an entrepreneur. Thus the entrepreneur can be
National Small Industries Corporation The NSIC was constituted in the year 1955 with a view to promoting, aiding and fostering the growth of small scale industries in the country with focus on commercial aspects of the these functions. NSIC continues to implement its various programmes and projects throughout the country to assist the SSI units.
What is Industrial Sickness? In common parlance, a sick unit is one which is not healthy. Financial institution considers a unit sick when it fails to meet its contractual obligation. According to the Sick Industrial Companies (Special Provisions) Act, 1985, a sick industrial undertaking means, “an industrial company (registered for not less than seven years)
What is Advertising? Advertising can be defined as communicating with target audiences through paid, non-personal messages, usually placed in a mass medium. Advertising is the easiest but absolutely, more expensive alternative for marketing communications. That is, the initial outlay for an advertising campaign may be the most expensive option for promotion. However, advertising may possibly
What are Channels of Distribution? Channel of distribution is mainly concerned with the physical distribution of goods and services. It is the pipeline through which products move from producer to consumer. It consists of all the middlemen who participate in the distribution of goods and services. Every small-scale entrepreneur requires a channel that can distribute
What is Pricing Policy? Pricing is the policy by which a company determines the wholesale and retail prices for its products or services. Pricing is the process of determining what a company will receive in exchange for its products. Pricing factors are manufacturing cost, marketplace, competition, market condition, and quality of the product. Pricing is
Marketing Challenges of Small Scale Industries In a small business, the marketing function comes across the entire company, affecting the entry aspect of its operation from production to marketing. These are the marketing challenges of small scale industries: Low Product Quality It is very difficult for small units to have quality testing equipment. Therefore small
