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2012-09-11

SIDBI’s initiative for promoting youth entrepreneurship

Additional Secretary (DFS) Sunil Soni today inaugurated smallb.in, SIDBI’s initiative for promoting youth entrepreneurship in the presence of Sushil Muhnot (Chairman & Managing Director, SIDBI) and N. K. Maini (DMD, SIDBI) among others.

Additional Secretary (DFS) Sunil Soni today inaugurated smallb.in, SIDBI’s initiative for promoting youth entrepreneurship in the presence of Sushil Muhnot (Chairman & Managing Director, SIDBI) and N. K. Maini (DMD, SIDBI) among others.

SmallB.in creates an awareness of the business opportunities that exist. It helps understand how to go about identification of business opportunities. It stimulates generation of ideas and learnings from some of the most successful startups in the world. It aids in how to go about choosing the right business opportunity; and helps understand various forms of business organisation. It also helps in preparation of a Business Plan as well as preparation of a Detailed Project Report for availing financial facilities from the Banks in India. It assists in how to incorporate new business in India and understand various requirements of Banks / Financial Institutions and how to deal with them. It also has a section on Finance as well as Legal Basics.

Sunil Soni, Additional Secretary, DFS, said, “Acceleration of economic growth and the employment of educated youth in the next two decades are key challenges for India. SmallB.in is SIDBI’s initiative to inspire India’s educated youth to look at entrepreneurship as a viable career option. Over the next 20-30 years, India has distinct advantages in a population profile concentrated in the younger age group, where many new opportunities can be tapped.”

S. Muhnot, Chairman & Managing Director, SIDBI, said, “SIDBI has been active in the Promotion & Development space over the years through programmes like Rural Industrialisation, EDP’s, SIMAP, Cluster Development schemes, etc. It now proposes to plug in an important gap in the MSME ecosystem; viz., information gap in setting up a new business. This is proposed to be accomplished through the use of web based approach to reach out to a larger number of targeted young population”.

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