Development Finance , Livelihoods , MSME and a Lot More : Digital Inclusion of Micro-Entrepreneurs

Development Finance , Livelihoods , MSME and a Lot More : Digital Inclusion of Micro-Entrepreneurs:                India is currently in the midst of a large effort to modernize its financial services and move individuals into the ...

Development Finance , Livelihoods , MSME and a Lot More : Promotion of Micro, Small, and Medium Enterprises ...

Development Finance , Livelihoods , MSME and a Lot More : Promotion of Micro, Small, and Medium Enterprises ...: Foreword : - Ø   The MSME sector forms the backbone of economic progress and development because of its contribution to industria...

Promotion of Micro, Small, and Medium Enterprises at State Level by Collaborating with Top Management Institutions:

Foreword: -

Ø The MSME sector forms the backbone of economic progress and development because of its contribution to industrial productivity, employment generation, versatile nature, adaptability and contribution in exports.

Ø MSME industries constitute an important segment of the state economy in terms of employment generation and as a source of foreign exchange earnings through exports. For example: the MSME sector accounts for almost 60% of the total industrial output in Uttar Pradesh. It also accounts for second largest employment generation next only to agriculture sector in the state.

Ø Government of India has been making efforts to provide congenial environment and policy support to enable the MSME sector to achieve higher levels of production, exports and employment. The MSME sector offers high growth potential and by strengthening the sector more employment can be generated for the skilled workforce.

Strengthening and Promotion of Micro, Small, and Medium Sector at State Level in collaboration with Top Management Institutions:

Ø A structured experiential 6-9 month programme for management graduates can be considered by the state government. The aim of the programme would be to support strengthening of MSME sector in the state by engaging management grads who are committed and passionate about development, sector experts as mentors and elite jury for evaluation of the programme. The sharing of learning at suitable forums can be done by the management institute and / or relevant government department.

Ø The idea is to initiate a structured development immersion programme for 20-25 management grads (initially) where an each selected will be attached with a chosen enterprising small business holder / small enterprise owner for about 6-9 months’ period.

Ø Course objectives may be: -

1) Build socially inclined management graduates by giving them the opportunity to face the ground level issues, bridging the knowledge –doing gap, and providing them a platform to utilize their ideas into practice.

2) Suggest products or service concepts for serving the BoP clients and small holder enterprises.

Ø The programme will give first hand understanding to a management grad of opportunities and challenges to development, growth and sustainability of a small business enterprise and provide opportunity to utilise one’s knowledge and skills in improving / strengthening it. A batch of 20-25 grads will be chosen through criteria based intensive selection process by the Management Institute.

Ø The programme will be designed to attract motivated and socially inclined grad students. the programme may provide them the opportunity of getting exposed to ground realities, experimenting under the guidance of mentor / specialist, and make positive change in the lives of poor / disadvantaged small enterprise owners. It is an opportunity to experience development, market & social conditions, and gain first hand exposure like no other.

Ø The broad programme design is presented below: -

§ Identification of the business enterprises. Management Institutes may collaborate with Small Finance Banks / RRBs for the same.

§ Selection of a batch of students Best fit for the skills and competency

§ The management institute may make a core group of MSME experts as Mentors to support students in suggesting solution and strategies to the enterprise he/she is attached with.

§ Each of the students under programme will be mentored by MSME experts and supported by Institute faculty throughout the programme duration. It is expected that each of the student attached with a small holder enterprise will develop customer segment led approach to provide solution under guidance of MSME expert and institute faculty support.

§ The visits, activities, processes followed, suggestions & recommendation made, and learning at each enterprise should be documented in a standard format by the student, and same is presented to and evaluated by an elite jury, formed by the institute in consultation with associated state government department. The best ones shall be awarded with appreciation certificate and prize money.

§ The suggested programme may also have provision to a minimum honorarium to the volunteer students for meeting the basic expenditure/local visits to the attached enterprises.

I will write about programme details in other post.

Thanks for reading.