Through deAsra’s platform, budding small business owners have the choice of either self-learning through the information resources curated such as blogs, checklists, videos, or can choose to interact with experts and understand from them the necessary guidelines and way ahead for a complaint business. This is when ecosystem enablers come into the picture and organisations such as deAsra are actively educating and helping small business owners navigate through various legal and compliance areas such as trade specific compliances, labour practices, industry procedures, acquiring a small business registration, tax filing, returns, board meetings, handling of statutory books.
#Nano enterprise how to#
Thus, it may be needed to recognise and acknowledge the sentiment of small business owners who on one hand are already trying to figure out how to run a small business, and on the other hand are overwhelmed with the various business compliances on their shoulders. This leads to small businesses compromising on aspects such as a smooth operational journey, avoiding penalties and gaining customers’ confidence. Many small businesses feel caught up in the responsibilities and activities that are necessary for compliance, thereby generally overlooking the very evident benefits of being a compliant business. While compliance is nothing but avoiding unethical business conduct or violation, it has always received a bad reputation because of laws, regulations, and audits.
The ecosystem to accelerate the growth of nano and micro entrepreneurs has seen a progressing shift wherein some key support areas that have been delved into by various ecosystem members are, legal & compliance, marketing, access to finance and mentorship. Therefore, ecosystem enablers working in the space of nano entrepreneurship development have a crucial role to play in uplifting the business journeys of this segment of the entrepreneurial ecosystem. However, despite the large number of nano-enterprises, policy limelight is often attracted by organized small and medium enterprises. Access to credit, technology and marketing skills remain some of the most prominent areas of concern for nano-enterprises. The challenges faced by nano enterprises need a special spotlight on them in order to be addressed affectively and swiftly.
As illustrated in an op-ed by deAsra aiming to define nano businesses, the Consortium of Indian Associations (CIA), an apex MSME body representing around 50 MSME associations spread across the country, has demanded the government to create a separate ministry for micro enterprises for better focus and policy support.
Nano-entrepreneurs form an integral part of the entrepreneurial ecosystem.
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