Schemes for Entrepreneurs from Indian Govt
Entrepreneurs are the backbone of India’s economic growth. They build a business with a strong market position both domestically and internationally. Government takes enormous efforts in facilitating entrepreneur development through introduction of many schemes. The entrepreneurship development scheme is developed by Ministry of Skill Development and Entrepreneurship.government small business loans
This article gives a lucid picture over beneficiaries of entrepreneurship schemes and also lists the schemes.
The entrepreneurship development scheme facilitates for:
Provision of education for startup entrepreneurs:
The entrepreneurship education courses are delivered in 325 industrial clusters across the nation and it is integrated to around 3000 colleges. Additionally, 50 nodal entrepreneurship hubs are also set up. The curriculum is delivered to the entrepreneurs with free of cost and leveraged through online learning.government small business loans
Collaborating the entrepreneurs to mentors:
To support the young entrepreneurs, a web and mobile based platforms is established to connect the mentors and successful local entrepreneurs through innovative and cutting edge technology. The initiatives like Atal Innovation Mission (AIM) and Self Employment Talent Utilisation are focused.government small business loans
Supporting the entrepreneurs through entrepreneurship Hubs (E-Hubs):
A national, 30 states, 50 nodal and 3000 college based E-hubs are developed to render the support for empowering entrepreneurship.government small business loans
Integrating international linkages for promotion of entrepreneurship development:
International tie-ups are provided for exchange of entrepreneurial ideas and also internship opportunities to visit the global hubs like Silicon Valley. The awards are instituted for younger entrepreneurs and National Entrepreneurship day is also celebrated.
Promoting women entrepreneurship:
The government encourages the women entrepreneurs owning a business through appropriate incentives. A network of mentors and resource centers are developed to empower entrepreneurship among women.
List of entrepreneurship development schemes:
Credit Guarantee Fund Scheme For Micro and Small Enterprises:
This scheme is proposed by Government of India to provide collateral-free credit to Micro, Small and Industries Enterprises (MSME). The scheme is eligible for both the new and existing enterprises. The ministry of MSME and Small Industries Development Bank of India (SIDBI) has formed Credit Guarantee Fund Trust and both in the ratio of 4:1 provide credit facility to implement the scheme. The scheme gives credit provisions in form of term loans and working capital facility up to Rs. 100 Lakh per borrowing unit without any collateral security. Under the guarantee scheme, the scheme also facilitates for rehabilitating the sick units.
Credit linked capital subsidy scheme for Technology Up gradation:
The scheme is introduced by Ministry of Small Scale Industries for up gradation of technologies in small scale industries. It provides 15% capital subsidy (limited to maximum Rs. 15 lakhs) for purchasing and modernizing plant and machinery. There are 1500 established technologies under 51 subsectors. Maximum limit of eligible loan for calculation of subsidy is Rs. 100 Lakhs.
Market Development Assistance Scheme for Micro, Small and Medium Enterprises:
This scheme encourages small and micro exporters and provided funding for participation under MSME India stall at international trade fairs. It also assists in funding for adoption of bar coding on a large scale. The scheme gives funding support to sector specific market studies by Industry Associations/Export Promotion Councils/Federation of Indian Export Organization. It supports for initiating anti-dumping cases by Micro, Small and Medium Enterprise associations and reimbursement of 75% of one time registration fee and 75% of annual fees paid to GSI.
Micro and Small Enterprises Cluster Development Program:
The scheme aims in enhancing the productivity, upgrading technology and capacity building of MSEs. This scheme helps in formation of self help groups and associations, common facility centers for testing, training and production processes. It also supports in infrastructural facilities in newly or existing clusters of MSEs. The eligibility with project cost of Rs. 15 crore is accounted for setting up common facility centers and around Rs. 10 crore for provision of infrastructure development.
National Award Scheme:
The ministry of Micro, Small and Medium Enterprises is responsible for recognizing the deserving entrepreneur’s efforts and contributions under this scheme. The eligibility for this scheme is enterprise that has permanent registration as specified by respective state government. The enterprise that is in continuous service for the last four years is only eligible. The award is classified as three prizes with first (Rs. 1 lakh), second (Rs. 0.75 lakh) and third (Rs. 0.5 lakh). Special prizes are also awarded to SC/ST entrepreneurs, women and NER entrepreneurs.
List of entrepreneurship development schemes for Women:
The government has taken initiatives for women entrepreneurs in order to make the women to indulge in business.
Stree Shakthi Package
This scheme is eligible for women entrepreneurs who indulge in small business who have 50% of firm ownership. Women entrepreneurs who have undergone Entrepreneurship Development Programme are eligible for the financial assistance. Loan in the form of term loan or working capital is provided under this scheme. The interest concession of 0.50% is given for loan above the limit of Rs. 2 Lakhs.
Annapurna Loan Scheme
This scheme is applicable for women entrepreneurs who deal individual business. It provides financial aid to women entrepreneurs for setting up food catering unit. Maximum amount of Rs. 50000 are availed and the period for repay loan can be done in 36 monthly installments. Guarantor is needed and asset documents have to be submitted at the time of availing this loan scheme.
Cent Kalyani Loan Scheme
The scheme is eligible for women entrepreneurs and it is given by Central Bank of India. This scheme is suitable for both new and existing business owners and for self employers. It also provides financial assistance to women entrepreneurs in retail traders, agricultural and allied activities, small scale industries, village and cottage industries.
Dena Shakti Loan Scheme
The scheme promotes financial services for women owned business rendered by Dena bank. The loans are availed at a concession of 0.25% on interest rate. This scheme focuses on women entrepreneurs in manufacturing, agriculture and allied sectors. Women who are engaged in small enterprises, micro-credit and retail store businesses are also eligible for this loan scheme.
Udyogini Loan Scheme
The scheme is promoted for women entrepreneurs to obtain loans online at lower interest rates by Punjab and Sind Bank. The loan is provided for women entrepreneurs who own business enterprises, small scale industries, agricultural activities, retail traders and self-employers.