ENTREPRENEURSHIP

Detailed explanation-1: -Small businesses contribute to local economies by bringing growth and innovation to the community in which the business is established. Small businesses also help stimulate economic growth by providing employment opportunities to people who may not be employable by larger corporations.

Detailed explanation-2: -Small businesses help the local economic growth by providing employment opportunities to people who may not be employed by large organizations and big companies. For the growth of an economy and community, the circulation of money within the community is very important.

Detailed explanation-3: -They can provide specialist support to larger companies. They can be innovators of new products.

Detailed explanation-4: -Small businesses are important for many reasons – job creation, exports, innovation – but perhaps their biggest impact is on their local communities. Leslie Hassler, a small business scaling strategist, explained how successful small businesses leverage their resources within their communities.

Detailed explanation-5: -Second largest employment provider: After agriculture, these industries are the second largest provider of employment in India. As comapared to large industries, they generate more number of employment opprtunities per unit of capital invested. Hence, these industries are a boon for an overpopulated country like India.