Here is this week’s news round-up for home business, micro business, sole-traders, freelancers, self-employed and any one who is interested in small business news from India:
- An Indian Facebook for small businesses: Dec. 15: Forty three-year-old John George found himself in a quandary when a senior partner at his company Weld Craft Pvt. Ltd., retired a few months ago. George, marketing director at the company which manufactures welding electrodes for the domestic and export market, now had to handle the entire gamut of operations from production planning to labour union management, most of which was uncharted territory for him.
- Govt banks offer special rates on some home loans: MUMBAI (Reuters) – State-run banks will lower interest rates on some loans to home buyers and small businesses as part of a government initiative to spur demand amid a global crisis, but analysts say high realty prices are a dampener.
- Banks should hike long-term finance: The president of the All India Association of Industries (AIAI), Mr Vijay Kalantri is a man of many parts. Born in Rajasthan, he now heads Balaji Infra Projects Ltd and Dighi Port among others. He is the vice-chairman of the World Trade Centre in Mumbai. Mr Kalantri spoke to Ms C. Jayanthi over telephone from Mumbai on the effect of the global meltdown on SMEs and the problems they face in raising capital.
- Small enterprises to get loans at lower rates: Public sector banks on Monday lowered interest rates on existing as well as new loans to micro, small and medium enterprises (MSMEs). The interest on loans to micro enterprises has been reduced by 100 basis points (1 percentage point) and for small and medium enterprises by 50 basis points. Government-owned banks have also decided to provide ad hoc, need-based credit of additional 20 per cent of each borrower’s existing loan limits to meet their working capital needs.
- Indian entrepreneurs optimistic about: Study: The report further added that ‘the Indian entrepreneur today is optimistic, willing to take risks and is prepared to accept failure. India is on an entrepreneurial growth trajectory. The beginnings are already in place and steps have been taken in the right direction.’ According to the entrepreneurial India state-level confidence index, Andhra Pradesh has the highest confidence score of 4.14 and is much above the national average of 3.31.
- Entrepreneurs least confident about Delhi: New Delhi, Dec 16 (IANS) The national capital is last on an entrepreneurial confidence perception survey that was released Tuesday.
As always this list is not exhaustive, but I hope it will give you a little overview. — ST.