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In a developing country like India, small-scale entrepreneurship plays a significant role in the
economic development of the country. These industries, by and large, represent a stage in
economic transition from traditional to modern technology after globalization. The variation
in transitional nature of this process is reflected in the diversity of these industries. Most of
the Small-Scale Industries (SSIs) use simple skills and machineries. Besides playing an
economic role in the country, the SSIs, because of their unique economic and organizational
characteristics, also play a social and political role in local employment creation, balanced
resource utilization, income generation and in helping to promote change in a gradual and
peaceful manner. But if the small-scale industries want to compete with the present industrial
scenario then they have to adopt modern marketing tools like marketing research, promotional
activities etc. These are the very essential tools for their existence in the long run.
SSIs (MSMEs) play a strategic role in the progress of the country. One of the major
problems in developing new small-scale industries to modern lines of manufacture is shortage
of finance. In the absence of this powerful grease, a number of well-conceived schemes
confined their existence to paper and found no opportunity to fruition. This problem is so
severe and extensive that every problem, whether of inadequacy of raw materials, shortage of
power, labor or marketing, turns its ultimate analysis to problem of finance. In recent years,
several policy initiatives and procedural simplifications have been done by the government
to support the small-scale sector and enhance its competitive strength. The measures encompass areas like greater infrastructural support, more and easy availability of credit, lower
rate of duty, technology upgradation, building entrepreneurial talent, quality improvement,
export incentives, employment generation, etc.
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