Government Loan Schemes To Start Your Small Business
According to the Ministry of Micro, Small, and Medium Enterprises, the small business market has maintained an average growth rate of more than 10%. These numbers are distributed between 42.5 million registered and unregistered small businesses and industries in the country, which employ more than 106 million people all over the country.
Thus, small-scale businesses and industries contribute majorly to the Indian economy. There is, however, a need for financial aid, to provide small-scale businesses with a way to grow and flourish in the competitive market. The main competition that these small businesses face is from the privately funded organizations and the ones that have already established a brand name in the market. This is why government’s small business loan schemes have been made available, to provide financing options at lower rates for smaller businesses, aiming to bridge the gap in the competition. In the current scenario, small businesses account for about 16% of the total bank loans.
Hi i need for u small business information
Hi Ashish, Thanks for reaching out to us. For any of your small business queries, kindly reach out to us on 8669985599; or share your contact details with us – we would get in touch with you for the same.
Dear deAsra, I want to start a small business, like red chilli and yellow horns to powder packing, please help complete process to getting subsidy loans from government.
Hello Durga. We can assist you in creating a project report once you give us the details of your business. Please reach out to us at 8669985599 to know more.