Question

Study the following case/situation and express your opinion.

Anand completed his MB A and wants to start a Small Scale Industry. H e is good at using technology. He has a very good business idea in mind and looking for a lender or investor.

1. Who is promoter or businessman in this case?
2. W h at is the full form of SSI?
3. Suggest digital ways to find lenders or investors for this initiative.

Answer 1

1. A person who gets the idea of starting the business enterprise is called a promoter or businessman. In the above case, Anand is a promoter or businessman.
2. The full form of SSI is Small Scale Industry.
3. SIDBI has started Digital initiatives/Digital ways to find lenders or investors. For this initiative I can suggest the following ways:
   (a) SIDBI Startup Mitra: It brings together all stakeholders, start-up entrepreneurs, incubators, investors, industry bodies, mentors and advisors, and banks on one platform. It helps in the financing and development of new entrepreneurs.
   (b) Udyami Mitra: This is a portal launched by SIDBI to improve the accessibility of credit and handholding services to MSMEs. Under this portal, entrepreneurs can apply for a loan without physically visiting any bank branches. The entrepreneurs can select and apply for preferred banks, they can select a suitable branch, track their application status, and avail multiple loan benefits.