Q."Institutional support covers the finance, technical, marketing, and infrastructure needs of an entrepreneur through different national and state institutions." Explain this statement with the help of the main institutions studied in this chapter.

Each major need of an enterprise is matched by one or more specialised institutions, so the support system as a whole covers the whole life of a small unit.

The statement means that the institutional support system is built so that each major need of an entrepreneur is matched by one or more specialised institutions. Drawing on Sections b to g, the different needs and the institutions that serve them are:

1. Financial needs. An entrepreneur needs capital for land, machinery, and working expenses. At the national level, SIDBI is the apex financing body, providing refinance to lenders and direct finance to small and medium units. At the state level, the State Financial Corporations (SFCs) provide medium- and long-term loans to small and medium units, and in Odisha IPICOL promotes and finances industrial projects. NSIC also arranges credit and supplies machinery on hire-purchase and lease.

2. Technical and training needs. An entrepreneur needs help choosing technology and building skills. SISI (the MSME Development Institutes) provides technical consultancy, project profiles, and entrepreneurship-development and skill training, and the District Industries Centre (DIC) offers guidance and training at the district level.

3. Marketing needs. A small unit needs help selling its products. NSIC provides marketing support and operates the Single Point Registration Scheme for supplying to government, and the DIC helps units market locally and secure government orders. For those selling abroad, FIEO provides export-promotion support.

4. Infrastructure needs. An entrepreneur needs land, sheds, and basic facilities. In Odisha, IDCO develops industrial estates and allots developed land and ready-built factory sheds.

5. Raw-material and agri-business needs. NSIC arranges scarce and imported raw materials, and in Odisha APICOL promotes agri-business ventures and helps them obtain subsidies. …

Do not simply list institutions without linking each to a need. The strength of this answer is showing the match: finance -> SIDBI/SFC/IPICOL, technical/training - …