As per the Forbes India report (Pic Courtesy Forbes India, https://www.forbes.com/advisor/in/business/msme-statistics/) 96% of the industrial units belong to small companies in the Indian economy. The small companies account for 40% of the nation’s overall industrial production and 42% of all Indian exports. Small companies also offer various opportunities in the rural and urban areas of the country. The Indian economy generally experiences unemployment and small firms have helped increase the employment chances for the people. 

In India, 7.56 lakh employment was created, home to 75,000 recognized start-ups, 12% cater to Information Technology services, 9% of the healthcare and life sciences, 7% to education, 5% to commercial and professional services and 5% to agriculture. Over the last six years, there has been a 110% yearly increase in the creation of jobs. 

The most common way to classify enterprises is the number of people employed. In the Indian economy, small businesses are the second largest employment providers. Less than 250 individuals are working in small and medium-sized enterprises. Less than 10 employees work for micro-enterprises, small businesses have a range of 10 to 49 employees and medium-sized businesses with a range of 50 to 249 employees. 250-plus people are employed by large enterprises. 

For a country like India where nearly 1.2% of the population (about 1.4 Crore youth) enter into the employment arena every year, is it humanly possible to generate this number of jobs? Only possible if we have so many new businesses starting each year, which employe at least 1 or 2 employees and keep growing

While 30000 units moved up from being a mIcro or small to medium enterprises, this 0.39% of total base is crucial – what helped them move up to the levels is important to learn about and accordingly learn of using them to grow your own business. How to cut short this chase and learn quickly how YOUR ENTERPRISE can grow faster? Learn from us – for free contact@nat-cons.com