explain briefly the role of small scale business in Indian economy
The role of small scale business in Indian Economy can be understood from the following points:
Employment Generation
As population in India is increasing rapidly there is necessity to create employment opportunities. Small scale business uses those methods which are more labour intensive than capital intensive. It helps in generating employment opportunities for the masses.
Development of backward areas
Small scale business helps in promoting decentralized development of industries as many small scale business are setup in backward rural areas which leads to development of that area.
Quick Production & Fast Return
Small scale business generally functions in those areas in which there is less time required between investment and return on investment.
Mobilisation of Labour
Small scale business carries job to the worker so the difficulty of immobilisation of labour force is solved.
Regards
Employment Generation
As population in India is increasing rapidly there is necessity to create employment opportunities. Small scale business uses those methods which are more labour intensive than capital intensive. It helps in generating employment opportunities for the masses.
Development of backward areas
Small scale business helps in promoting decentralized development of industries as many small scale business are setup in backward rural areas which leads to development of that area.
Quick Production & Fast Return
Small scale business generally functions in those areas in which there is less time required between investment and return on investment.
Mobilisation of Labour
Small scale business carries job to the worker so the difficulty of immobilisation of labour force is solved.
Regards