Small business plays a significant role in development of indian economy. Explain
Dear student,
The following points explain the significance of small business in development of economy:
1. Small business are generally labour intensive. Accordingly, they help in employment generation.
2. They help in promoting regional balance in the country. In other words, they promote the growth and development of rural and other backward areas.
3. As small business require low capital, they promote entrepreneurship.
4. They help in removal of disguised employment in the country (particularly in the agriculture sector), thereby, help in the removal of poverty.
Regards
The following points explain the significance of small business in development of economy:
1. Small business are generally labour intensive. Accordingly, they help in employment generation.
2. They help in promoting regional balance in the country. In other words, they promote the growth and development of rural and other backward areas.
3. As small business require low capital, they promote entrepreneurship.
4. They help in removal of disguised employment in the country (particularly in the agriculture sector), thereby, help in the removal of poverty.
Regards