Ch 8Small Business — Class 11 Business Studies, concept-first.

In the earlier chapters of the NCERT Class 11 Business Studies course we looked at the basic ideas of business, trade, commerce and industry.

In India, the 'village and small industries sector' is made up of both 'traditional' and 'modern' small industries.

To promote and develop small scale industries, the Government of India has built up an administrative structure at the central, state and district levels.

Small scale industries occupy a distinct place in India because of their contribution to the socio-economic development of the country.

Rural households in developing countries were traditionally seen as being engaged only in agriculture.

Small scale industries are at a distinct disadvantage compared with large scale industries — in their scale of operations, their access to finance, their ability to use modern technology and their pro…

Given the contribution of small business to employment generation, balanced regional development and the promotion of exports, the Government of India's policy has consistently been to establish, prom…

The present era is the regime of the World Trade Organisation (WTO), in which the rules of trade change frequently in line with global expectations.

The chapter's key terms, with brief explanations, are given below.

- Categories of small units. On the basis of capital invested, small business units can be grouped into categories such as Small Scale Industry, Ancillary Small Industrial Units, Export-Oriented Units…