Question

What types of support are available to entrepreneurial ventures for global expansion to developing countries?

Answer 1

Development Act, 2006 and the National Board for Micro, Small and Medium Enterprises (NBMSME) was formed and regulations made in 2006. This Board examines the factors affecting the promotion and development of MSMEs and, from time to time, reviews policies and programs relating to these undertakings and makes recommendations to the Government in formulating policies for MSME growth.

The Government of India formed the National Commission for Enterprises in the Unorganized Sector (NCEUS) to investigate the unorganized / informal sector issues faced by the companies. The Commission has proposed that these undertakings be provided with scientific, marketing, and credit support. Government funding policies and schemes for rural industry growth rely on the use of local capital and raw materials and local manpower.

Centers for Product-cum-Process Development: These were promoted to provide specialized service to various types of small-scale units concentrated in different locations. Such centers are responsible for serving as research and development institutions in dense industry cluster areas, promoting product design and innovation, developing new processes and updating the current technology standard, functioning as centers of excellence in the respective areas, and • providing technical and managerial support.

The most significant thing is the strategic intent of the company's management team. In the environment, businesses looking to expand need to be provided support in linking with consumers, suppliers and other "actors" who can provide services. Government ministers will play a vital role in promoting entrepreneurship and innovation. Their job is to direct departments and agencies from government to concentrate on the problem, and to establish effective policies.