Tripura Times Article on The Importance of Entrepreneurship in Tripura, India, dated 22nd September 2015

Entrepreneurship forms the cusp of growth for all economies and Tripura is no exception. The inherent advantages offered by the state can very well be leveraged by all the concerned stakeholders to give the much needed thrust to entrepreneurship.

Read on to know more.

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500th Publication-International Journal, PROFICIENT

It gives me immense pleasure to present my 500th publication overall. The case study on entrepreneurship has been published in the leading International Journal of Management, Proficient.

My article on SME in DNA, Mumbai, dated 9th of January 2009

Source- http://www.dnaindia.com/report.asp?newsid=1220036




Home Money Comment

SMEs more prone to downturn blues
Manishankar Chakraborty
Friday, January 9, 2009 3:14 IST

The global slowdown is impacting all economies and India is no exception. Impact on the Indian economy may not be felt with immediate effect, but in the long run, it's going to have a bearing on the Indian populace.

Many leading businesses are feeling the heat and have started to take evasive action, either in the form of cost cutting or by halting production and expansion plans. If this is the state of big enterprises, imagine the impact on small and medium enterprises (SME) who have little resources and rely on bigger counterparts for a smooth functioning. The emphasis to boost the SME sector was felt long time back, however, only half-baked measures have been taken, resulting in these units fighting for their survival on a daily basis.
The major difference between typical organisations and SMEs is in the headcount and their overall scale. These make SMEs more susceptible to economic turmoil.

To quote from Wikipedia, "EU member states traditionally had their own definition of what constitutes an SME, for example the traditional definition in Germany had a limit of 250 employees, while, for example, in Belgium it could have been 100. But now the EU has started to standardise the concept. Its current definition categorises companies with fewer than 50 employees as "small," and those with fewer than 250 as "medium."By contrast, in the US, when small business is defined by the number of employees, it often refers to those with fewer than 100 employees, while medium-sized business often refers to those with fewer than 500 employees."

In the European Union, almost 99% of the firms are SMEs, employing 65 million people. Globally, SMEs contribute 40%-50% to GDP and in India, the sector accounts for 99% of business numbers and contributes 40%-50% to the GDP. It's, therefore, imperative for decision makers to understand the importance of the SME sector and make the necessary moves.

The author is an expert on SME and works for a Dubai-based firm.

Read an article of mine on SME

Daily News & Analysis Friday, October 17, 2008 3:34:00 AM Permission to reprint or copy this article or photo must be obtained from www.3dsyndication.com.
Awareness call
Manishankar Chakraborty

The fundamentals for a big enterprise and for a small and medium enterprise remain the same. Both require what forms the core of any business entity, though their importance may vary. The macro and micro indicators for both remain the same, barring minor alterations depending upon the business environment.A few of the key fundamentals which need to be managed are:Seed capital: All organisations need a starting capital, or what is commonly referred as seed capital. For an SME, the amount may be small but its importance is big. However, the present liquidity crunch is a spanner in the works not just for SMEs but for the biggies too.Business model: The success or failure of an organisation depends on the business model formulated by the entrepreneur. Understanding the importance of stakeholders and involving them at the right time for the right input by providing them the right motivator goes a long way in making a well oiled business model. Changes in the business environment call for flexibility on the part of the business model, as companies of all sizes are exposed to all these variables. Stakeholder relationship: Stakeholders form the core of all organisations. Successful entrepreneurs are those who understand this and involve them in every step.Managing employees: SMEs must manage the human element in a way which makes them perform to the best of their abilities. People responsible for making organisational decisions should understand the nitty-gritty of the human factor so that their decisions do not offend employees. Suitable rewards for performers and recognition of extraordinary performances goes a long way in making employees feel a sense of belongingness to the organisation. Entrepreneurial spirit: Start-ups have an entrepreneurial spirit mainly because the entrepreneur brings in that element with his own drive and efforts. As the organisation starts to scale up its operations, this spirit starts to fade. An SME set up should necessarily possess the entrepreneurial spirit as, given its small size, this spirit helps in developing a cohesive unit.Business environment: The business environment is highly competitive. With America and Europe undergoing a financial crisis and emerging econo-mies like India and China on notice, it is important for to understand the shifting sands and align accordingly. SMEs may need to tap newer markets, bring in new products and retrain employees for new jobs.Managing finances: The threat to survival has compelled organisations of all stature to reduce costs by investing optimally, that too in areas which are responsible for bringing in healthy returns to investors. Bigger enterprises may use different tools, techniques and technologies to leverage the same. While SME set-ups may not take the help of technology to that extent, even for them, money saved is money earned. Institute-industry interface: SMEs should take advantage of industry-institute linkages offered by colleges/universities/institutes offering professional courses. These platforms would be the ideal ground to tap new employees and also for testing of new business ideas. Long term tie-ups through projects and research plans would create the right bonding between the academia and industry, which, in turn, would enable SMEs to look beyond their routine prism. Chakraborty is with Knowledge Horizon, a training and consultancy company headquartered in Dubai. He can reached on maniisonline @gmail.com

Source- http://www.xdot.in/view/279644/