Page 20 - MSME August 2016
P. 20
Article The new entrepreneur can opt to fund his/her own business as well. The corporate houses or PE funds would not only be fuelling economy’s growth by being a part of this system, but also would make immense business sense for them as valuations would be derived from numerous small units, thus, maximizing mitigation of investment risk. the focus now quickly needs to be turned towards in India. Certain modules should also be chosen, creating job-providers and not job seekers. based on products with export potential as well. An advisory board comprising of experienced Funding and Support professionals and entrepreneurs drawn from After completing the incubation process the the field of media, manufacturing, banking, successful candidates should also be provided management etc. should be set up to supervise funding unless they are able to set up their businesses and manage the progress and development of the themselves. The most onerous challenges for the above programs. new entrepreneurs will be mobilizing start-up capital and the marketing of their products. The Selection of the right People merit of the concept lies in providing solutions Applications should be invited from to these challenges. A set of corporate would Prospective entrepreneurs who require skill be approached to create a MSME start-up fund, enhancement to set up successful Business. either collectively or individually. This fund will be available for the pass-outs from the Incubation The identification of the right people is the Centre against equity of the new set up under pre- key to success of this ambitious program. Selection defined and mutually agreed terms and condition. should be done by measuring their Entrepreneurial Quotient. There could be an examination as well The new entrepreneur can opt to fund his/her as personal interview to measure the mind-set and own business as well. The corporate houses or PE entrepreneurial talent (not skill) and psychographics funds would not only be fuelling economy’s growth of a person. The test should be designed by team by being a part of this system, but also would make experts of the relevant domains. immense business sense for them as valuations would be derived from numerous small units, thus, The Entrepreneurial Education and Incubation maximizing mitigation of investment risk. To impart the necessary skills and measures There could be a Central Management Cell to the selected candidates, an institute of (CMC), which would act as a management hub of Entrepreneurship can be built up in PPP model to all the small businesses across the country. All the train and incubate suitable candidates. new enterprises would be standardized in terms of management policies, accounting etc. Thus, all NSIC, for example, has the expertise in the small units would be aggregated to derive the incubating entrepreneurs across the country. The maximum advantage, buying power and marketing existing models,however, need to be made more up- ability and would leverage the expertise of CMC. to-date and of global standards to provide relevant The CMC would run on an IT network which will education and training. The manufacturing module connect all the units and generate necessary data should be chosen through proper research so that and exception reports. n the new entrepreneurs, eventually, produce those goods for which the potential and markets exist – Writer is a Senior Media Person based in Delhi. 18 Laghu Udyog Samachar
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