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All About The Small Business Day Quiz
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All About The Small Business Day Quiz

Importance Small Business Day Quiz

A Small Business Day Quiz that operates on a short scale requires less capital investment, fewer workers, and fewer machines to use and is known as a small business.

Small industries or small buisness are industries that produce goods and services on a small scale jobs. These industries play an essential role in the economic development of a country. The owner invests once in machines, industries, and systems, or the leases or leases them to buy. These industries do not invest more than a billion. Some examples of small industries are paper, toothpicks, pens, bakeries, candles, local chocolate, etc.

small business day quiz

Characteristics Of The Small Industry

Ownership

You have only one owner. Therefore, it is also known as a single property.

Management

All management work is controlling by the owner.

Limited Range

Has a narrow operating range. Therefore, it can be a local business or an industry in an area.

Labor Intensive

Their dependence on technology is very low as they are dependent on labor and labor.

Flexibility

Being small, unlike large industries, they are open and flexible jobs to sudden changes.

It makes better use of natural resources and reduces waste.

Small Business Categories

Based on the capital invested, small businesses are:

small business day quiz

Small Industry

It is investing in property, plant, and equipment of machinery and equipment that do not exceed one billion.
For the improvement and modernization of exports, the spending limit for machines and systems is five million.

Units For Small Industrial Plants

This branch of the economy can have a minor auxiliary business status if it sells at least 50 percent of its products to another company, i. H. the mother unit, supplies.
You can manufacture standard machine parts, components, tools, or products for the motherboard.

Export Oriented Units

This industry can have the status of an export-oriented entity if it exports more than 50 percent of its products.
You can opt for compensation such as export bonuses and other subsidies given by the government to export units.

Small Industries Owned By Women

A company run by female entrepreneurs in which, alone or together, they have a share capital of at least 51 percent.
These units can opt for special grants from the state, with low-interest rates on loans, etc.

Small Industrial Units

It is an industrial company or a company whose expenditure on machinery and equipment does not exceed Rs. 25 lakh.

Small Businesses and Businesses

It is a fixed asset investment in machinery and equipment without land or buildings not to exceed Rs. 10 lakhs.

Micro-Businesses

  • It is a sector of small and medium-sized companies.
  • Investment in tools and accessories should not exceed Rs 1 lakh.
  • The industry that is located in rural areas and manufactures all the products provides
  • Also, all the services with or without electricity use are called the town industry.
  • They have firm investments in capital per capita, workers, and artisans, which do not exceed rupees. 50,000.

Metallurgical Industry

  • It is also known for being traditional or rural industries.
  • These industries do not fall under the investment criteria.

Characteristics Of National Industries

  1. These are organized by a single, with private funds
  2. Take advantage of family work and local talent
  3. Simple instruments
  4. It is a low capital investment
  5. Simple products
  6. Native technology

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