Sometimes called a small business, a small-scale enterprise is a business that employs a small number of workers and does not have a high volume of sales. Such enterprises are generally privately owned and operated sole proprietorships, corporations or partnerships. The legal definition of a small-scale enterprise varies by industry and country.
Review market demand and the competition Review of the competition is necessary. Competition means there is a market, but how big is the market?
It is important not to saturate the market and to supply the right type of product or service; something that is in demand. Who are my competitors?
Who are my customers? How much can the market absorb before saturation? Is there a shortage or surplus? Location of the market is also important for micro-entrepreneurs with physical disabilities.
Agricultural produce, for example, has to be sold at the fresh market, which must be accessible to the disabled person micro-entrepreneur. If it is too far, proper transportation arrangements will be necessary or else the product will have to be sent by a hired delivery person or sold to a middle person.
Hiring people increases production costs. Marketing is easier for a farm-based enterprise located within a small community where the production can be sold directly to the villagers. Overcoming his disability to become a leading mushroom entrepreneur Over a decade ago, Suban Inthanam was unable to get a bank loan to start mushroom farming to support his wife and two children.
Banks were unwilling to lend to a disabled person and the family was supported by community members. Today, in his forties, Mr Suban is a well-known and prosperous mushroom entrepreneur with annual profits of about half a million baht, helps the poor and readily shares his business expertise with others.
Borrowing a small amount of money from friends he was able to set up a small mushroom farm in He succeeded in producing as much as the big farmers due to very high yields. With his wife, he gave special attention to the farm, paid back the loan from his earnings as a successful entrepreneur, bought land and built his own house made of concrete.
His wife harvests the ripe mushrooms four to five times a day. The plants are not watered by an automated device on fixed days and times but manually to ensure the exact amount needed at the exact time.
Suban buys the spores in Bangkok, prepares and inoculates substrate bags and supplies these to other mushroom cultivators in his village.
Inhe started training people in the community who were keen to follow his outstanding example. He has so far trained more than 25 persons in mushroom cultivation.
The training he gives is free because he believes in mushroom cultivation as a good and honourable way of earning a living.
Now more than 25 rai about four hectares of land within the village is used for mushroom farming. Suban goes around the village on his motorized tricycle. He helps others with advice on mushroom cultivation, despite risk of increased local competition and reduced profitability of his own production.Contribution of Small and Medium Scale Enterprises Essay only viable and alternative for development of small scale enterprises in Nigeria and for the development, growth and survival of any economy.
Introduction Small and medium enterprises (SMEs) normally share the characteristic of limited scale in their operations, and they play significant important role in economic development in many countries around the world (Kotelnikov, ).
Contribution of Small and Medium Scale Enterprises Essay only viable and alternative for development of small scale enterprises in Nigeria and for the development, growth and survival of any economy. The promotion of the small-scale sector has thus been an important thrust of Industrial Policies since independence, though the focus of concern changes with the priorities of each five-year plan.
Essay on the Evolution of Small-Medium Enterprises in India. Article shared by. Small scale industries are now defined under the Micro, small and Medium Enterprises Development Act, , which has specifically categorized small scale sector enterprises based on the value of investment in plant and manufacturing and investment in equipment for service sector.
Free Essay: CHALLENGES AFFECTING THE GROWTH OF SMALL SCALE ENTERPRISES IN KENYA (A Case study of Wajir Soko Mjinga Market) A Research proposal Submitted in.