Support system to start a business. Subject : Entrepreneurship development

Support system to start a business

1. GOVERNMENT POLYTECHNIC, AWASARI (KH) PRESENTATION BY : DIGHE OMKAR SUNIL BORHADE ATHARVA DEVDATTA CHAUDHARI YASH PANDURANG DEPARTMENT OF MECHANICAL ENGINEEING MICRO-PROJECT TITLE : SUPPORT SYSTEM TO START A BUSINESS SUBJECT : ENTREPRENEURSHIP DEVELOPMENT GUIDED BY :- MR. B. S. PADMAVAT

2. COURSE OUTCOMES Identify your entrepreneurial traits.
Identify the business opportunities that suits you.
Use the support systems low zero down to your business Idea.
Develop comprehensive business plans.
Prepare plans to manage the Enterprise effectively.

3. Business support system ( bss ) Bss refers to the assistance and service given by the government or private agencies to help entrepreneurs to start a new business or develop an existing one. Financial institution Personal funds Family and friends funding Marketing assistance Research and development Technology / technical assistance Management and entrepreneurship training

4. SOURCES OF CAPITAL FOR
ENTREPRENEURSHIP As entrepreneurs think about starting a business, they use to think about the sources of capital to convert ideas and innovations into product and service concepts. The most obvious of these include:
personal funds
family and friends
Bank and other financial institutions

5. Business support facilities in INDIA Financial Institution
Management and entrepreneurship training
Technology
Location
Marketing
Research and Project Identification
Information

6. PERSONAL FUNDS Depending on how much cash you need (and how much you have), you may find that using personal funds is the best option.
Over 50% of small business start-ups are
financed with personal funds.

7. FAMILY AND FRIENDS Friends and family members might be the most lenient investors.
They don’t tend to make you pledge your house,and they might even agree to sell their interest in your company back to you for a nominal return.

8. BANK AND OTHER FINANCIAL INSTITUTIONS Banks are a straightforward source of funds. Many offer small-business loans if you’ve already started your business.
They provide short-, mid- or long-term financing, and they finance all asset needs, including working capital, equipment and real estate.(business plan and a personal guarantee are needed)
The government can also help. There many different funding sources as well as give you assistance with the legal and administrative aspects of starting your business.(follow the procedures).

9. FINANCIAL INSTITUTIONs Financial institutions include banks, credit unions and asset management firms.
These institutions are responsible for distributing financial resources in a planned way to the potential users.
To provide funding to start a business or implement a business
To provide financing with no interest or low interest rates
To provide loan facilities, overdrafts, lease and hire purchase.

10. MANAGEMENT AND ENTREPRENEURSHIP TRAINING OFFERING COURSES AND TRAINING ON THE SYSTEMATIC MANAGEMENT OF FINANCIAL, QUALITY CONTROL, SALES, MARKETING AND LAYOUT. OFFERING COURSES TO INCREASE ENTREPRENEURIAL SKILLS. OFFERING COURSES IN ENTREPRENEURSHIP AWARENESS. OFFERING JOB TRAINING TRAIN ENTREPRENEURS TO HAVE HIGH SKILLS IN THE FIELD OF EFFORT, AND KNOWLEDGABLE IN THE FIELD OF MANAGEMENT TO PROVIDE ENCOURAGEMENT AND SUPPORT IN ORDER TO IMPROVE BUSINESS.

11. MARKETING ASSISTANCE WILL PROVIDE SUPPORT SERVICES TO HELP DISTRIBUTE AND MARKET THEIR PRODUCT LOCALLY AND INTERNATIONALLY PROMOTE MARKETING AND EXPORT OF LOCAL PRODUCTS. CREATING A MARKETING NETWORK CREATING OUTLETS AND AGENTS EXPANDING THE LOCAL MARKET.

12. RESEARCH AND DEVELOPMENT AGENCIES THERE ARE SEVERAL AGENCIES ASSISTING ENTREPRENEURS IN CONDUCTING RESEARCH AND DEVELOPMENT AS THE RESEARCH AND DEVELOPMENT IS THE KEY FACTOR TO GROW A BUSINESS IN A COMPETITVE MARKET AMONG THE RESEARCH CONDUCTED THERE ARE PROJECT FEASIBILTY STUDIES, MARKETING RESEARCH AND TECHNOLGY RELATED STUDIES. EXAMPLES OF AGENCIES IN INDIA ARE : BIRAC, CSIR, DBT, etc.

13. Technology / technical assistance To increase the technical knowledge available among the entrepreneurs to attend the education provided. Entrepreneurs can learn about the latest technology, especially in the areas of manufacturing and management. Usually served by skilled staff and trained to use modern tools from within and outside the country. The transfer of modern technology is very important in order to create a culture of effectiveness in line with national economic development.

14. Thank you