• Pradyumna Nag

How can we as a country accelerate out of the crisis?

How can we as a country accelerate out of the crisis?

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There is only one way – supporting the entrepreneurs.

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But how? Funding is not the answer.


Entrepreneurs need more than just capital.

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They need a support system.

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Right from educating them to helping them access debt to helping them protect their IP, there have been various initiatives over time by the Govt.

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What always lacked was a focal body to ensure it reaches the entrepreneurs.

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Someone they could consult on anything from ‘how to set up a small business’ to ‘how to write a business plan’ to ‘how to apply for a loan’.


In 1953, the US set up the Small Business Administration (SBA).

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A body whose task was to solely be a guide and connector for early entrepreneurs.

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Nike, Callaway, Ben & Jerry’s, FedEx, Under Armour, Chipotle are among the brands that used the assistance of the SBA in the early years.


So what did they do so differently?

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They mentored.

They subsidized IP services.

They guaranteed working capital loans.

They educated entrepreneurs on schemes available.

.....among other things.


For a country like India, 40% of our workforce works for small businesses.

Shouldn’t we be paying more attention to ensure they succeed?


#economy #smallbusiness #startup #entrepreneurship #governmentpolicy


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