MEANING , FEATURES AND ROLE OF SMALL BUSINESS
Such as, Handlooms, Handicrafts, khadi, Powerloom industries etc.
CHARACTERISTICS/FEATURES OF SMALL SCALE INDUSTRIES:-
1- Personal Character: A Small scale unit is generally owned by a single entrepreneur or partnership.
2- Dominance of labour: Small scale enterprises generally use labour–intensive techniques.
3- Limited Investment: A small scale enterprise requires less capital investment, because it does not employ highly mechanised means of production.
4- Limited Area Of Operation: A small scale enterprise generally operates in a rural area however products are exported all over the world.
5- Engaged in light consumer Goods: The small scale industries are mostly engaged in production of light consumer goods.
ROLE OF SMALL BUSINESS IN RURAL AREAS:-
1- Employment: Small scale industries are labour–intensive so they provide additional employment to men and women.
2- Improves Economic Conditions: By providing employment opportunities, the small scale industries provide more income to people living in rural areas.
3- Promotion Of Artistic And Creative Sense: Small business set up in rural area provides scope for the promotion of Artistic achievement and creativity.
4- Rural Development: Small scale industry set up in rural areas lead to their development.
5- Mobilisation Of Local Resources: Small scale industries facilitate mobilisation and utilisation of local resources which might otherwise remain unutilised.
START UP BUSINESS: A start up is a business in form of company, partnership or sole proprietorship registered in India. These start up company get exemption in income tax for first three years and get registration in a few days and it's annual turnover should not have exceeded rs. 25 crore.
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