Ch 3Institutional Support for Entrepreneurs — Class 11 Fundamentals of Entrepreneurship, concept-first.

Starting and running an enterprise is not something an entrepreneur can do entirely alone. A new business needs money, machinery, technical know-how, trained workers, a place to work, raw materials, a…

Institutional support means the help — financial, technical, managerial, and other — that specially created government and public institutions give to entrepreneurs so that they can start, run, and gr…

Different institutions specialise in different kinds of help, but together they cover every major need of an entrepreneur. The main areas of institutional support are:

Two important national-level institutions provide financial and business support directly aimed at the small-scale sector: SIDBI (finance) and NSIC (marketing, credit, and materials).

Besides finance, the small sector needs policy support, technical and training help, and export guidance.

While SIDBI works at the national level, every state needs a financing body of its own for small and medium industry. This role is played by the State Financial Corporations (SFCs).

The Government of Odisha has set up its own specialised corporations to promote industry, agri-business, and industrial infrastructure within the state.

The institutions studied so far work at the national or state level. But the entrepreneur actually lives and works in a district.