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ENTREPRENEURSHIP

While starting a small-scale industry the following points to be considered.


1.

To select an economical and technically feasible project.

2.

Select the most suitable location for industry.

3.

Follow the local rules and regulations for starting the industry.

4.

Apply for loans and others advance from banks and financial institution.

5.

Follows the formalities and procedure that need to be done for

procuring materials.
6.

Prepare the documents for getting loans.

7.

Selection and appointment of suitable personal for manufacturing the

product.
8.

Select the suitable machine tools and equipment for manufacture.

9.

Plan the layout of the factory in the most economical way.

10.

Select the correct procedure for selling.

11.

The required amount of electricity available.

The above points are discussed below:


1.

Select an economically and technically feasible project:


In this type of project Multi Channel Remote Control are controlled by using

electronic devices. This type of remote control is less expensive and more reliable
compare to other type of methods.

2.

Select most suitable location for the Industry:


The industry manufacturing the Multi Channel Remote Control.

industry is located near the industrial city or a town.

So the

Hence, remote are

manufactured by the industry is quick made to sell. On the other hand the electronic
components and the other accessories are easily purchases from the near town or
city. Further the land price should be less.

3.

Follow the Formalities and Procedures that need to be done for

Procuring the Material:


After receiving the quotation of the price of various items required for
manufacture they are inspected and they are directly procured from them. Materials
such as IC chips and other electronic components are purchased in bulk quantity
from wholesale merchant nearer to the industry. The other miscellaneous materials
like wires, soldering irons, leads etc., are purchases in bulk from a dealer.
4.

Apply for Loans and Other Advances from Bank and Financial

institutions:
One of the essential requirements for self employment venture is capital with
the nationalization of major commercial banks the credit to small scale industries is
made available on priority.
The bank primarily looks to the soundness of your proposed point for applying
the loan for a small scale industry as given below.
1.

Should have personal knowledge either of the techniques of production


management of the particular industry.

2.

From time to time the government of India notices list of small scale industries
which are to be discouraged.

3.

Ensure scope and demand for the product.

4.

Continuous supply of raw materials should be ensured.

5.

Never to start the unit without adequate investment. At the time of starting the
unit we should have sufficient money for starting and running the unit.

6.

Much thought will have to be given by us to where to locate the plant.


Electricity, raw materials and skilled workers should be available nearby.

7.

Before we finalize our arrangement for starting the unit, we have to get the
place approved by the corporation, municipality or panchayat authorities.

8.

The book will help us with finance but we will have to bear a part of the
finance.

9.

Normally the book provide assistance to small scale industries in the form of:

a) Medium term loans:


These are repayable within a period of 5 to 7 years in installment basis and
are granted for the purchase of land, constructions of factory buildings, purchasing
of machinery and for expansion. The security of the loans will be fixed on assets of
our concern, new machinery or equipment acquired for the loan.

b) Short term advances:


These are repayable on demand and are renewable. Advances both against
raw materials and finished goods, generally 70% to 80% of the value of good is
given as advance.

c) When a small industrial unit supplies goods to a Government, semi Government


of other reputed firms, supply bills are discounted by the bank.

d) When large orders have been secured by a small industrial unit, and are required
money to buy new materials, to employ and pay wages to additional workers, clear
advances up to a responsible extent are made by the bank in deserving cases.
5.

Margin Money:
No margin is to be maintained for loans up to Rs.25, 000/- for loans over

Rs.25, 000/- a margin of 15% may be stipulated, depending on the purpose and
term of the loan.

6.

Preparation of documents:
For composite loans up to Rs.25, 000/- given to cottage and village industries.

Banks may have a security pledge, Collective security or third party guarantee
should not be taken. The same security applicable to credit limits up to and inclusive
of Rs.25,000/- given to other small scale industries, while for limits over Rs.25,000/banks may obtain security as determined by them on the merits of each case. For
advances for over Rs.25, 000/- collective security is inadequate.

7.

Selection of Employees:
In order to assist the industry to manufacture the product the following

personals are selected


Electronic Engineers:
An Electronic Engineer with B>E qualification is selected after his interview
and looking at his experience. He has to supervise the entire work that is done in
the industry.

8.

TOOLS AND EQUIPMENTS USED ARE:


1. Soldering iron.
2. De-solder.
3. Screwdriver
4. Cutting pliers.
5. Nose pliers.
These are all purchased from reputed stores.

9.

Marketing:
The manufactured goods are marked either directly or through organized

corporations like SIDCO etc.

10.

List of the Industrial Finance Corporation:


Source like,
a.

District Industries Centre (DIC)

b.

Small Industries Service Institute (SISI)

c.

Government of India leather finishing centre.

d.

Tamil Nadu Industrial Investment Corporation Ltd. (TTIC)

e.

State Bank of India.

f.

Canara Bank.

In order to allot the development of poles and sheds in industrial estates,


Small scale industries must contact the Tamil Nadu Small Industries Development
Corporation Limited.

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