Comprehensive India Business Directory

Comprehensive India Business Directory
Dedicated to providing resources and advancement services for India's smaller businesses

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Small Businesses in India

When people think of businesses in India, especially people in the west, they think of software engineers and IT companies. India is a country with many needs and many entrepreneurs operating very small businesses to meet those needs. Many such hard working business owners barely eek out a living.

The governments of developed nations recognize the need for government programs to support growth of smaller businesses. For example, the U.S. government recognizes that small businesses are the backbone of the American economy. A recent U.S. Office of Advocacy Report shows 99% of America’s employers are small businesses.

Small and young companies:

Create two thirds of the net new jobs in the U.S. economy
Employ half of all private-sector workers in the U.S.
Create two of every three new jobs in the U.S.
Produce 39% of the gross national product in the U.S.
Invent more than half the nation's technological innovation

The U.S. government also knows that small business owners face a lot of challenges and are disadvantaged compared to large corporations, so it provides resources to help smaller businesses succeed and grow through creation of government backed agencies like the SBA.

The India Small Businesses website is a place where small business owners in India can come together to help themselves and to present a unified force to encourage government officials in India to do more to help small businesses in India grow.

Breaking Entreprenurial News
U.S. SBA Partners with India
Feb. 8, 2007 -- The Small Business Administration is teaming up with India's Ministry of Small Scale Industry to boost cooperation and opportunities between U.S. and India-based small businesses, the agency said Thursday.

The initiative, announced this week at the American Chamber of Commerce international summit in New Delhi, India, seeks to facilitate commercial partnerships between small-business owners, exchange technical expertise, and share development strategies, the agency said.

"Small businesses are the backbone and driving force of our economies, " Manuel Rosales, SBA associate administrator for international trade, told summit delegates, saying the move will boost "economic development and job creation in both our nations."

The Letter of Intent was signed by Jawhar Sirca, additional secretary and development Commissioner of SSI, and Manuel Rosales, SBA associate administrator for International Trade. Rosales’s trip to India comes on the heels of Undersecretary of Commerce for International Trade Franklin L. Lavin’s business development mission to India, which had a strong SME component.

In remarks at the signing ceremony, Rosales praised the vitality of India’s economy and highlighted the importance of trade and cooperation between both countries’ small business communities as a tool for growth and jobs creation. “Small businesses are the backbone and driving force of our economies,” Rosales said. “Working together, we will encourage and facilitate business relationships that will help them to become even stronger, thus furthering economic development and job creation in both our nations.”

India is the world's fastest-growing free-market democracy and the U.S. is its largest trade and investment partner, which presents U.S. companies with very lucrative opportunities. According to the U.S. Department of Commerce, in 2005 U.S.-India trade reached an all-time high of $26 billion, with about $8 billion in U.S. exports.

The signing took place at the American Chamber of Commerce international summit in New Delhi, India. The theme of the event was “Emerging India – Opportunities for SME’s,” and it focused on the opportunities India offers for businesses globally because of structural changes in its economy and the sheer size of its market: more than one billion people.

The goals of the letter of intent include: Facilitating commercial partnerships between U.S. small and Indian small and medium businesses; Exchanging technical expertise and experience in small business development strategies; and Sharing information on programs and services provided to small businesses by both entities, including access to capital, technical assistance, research and development of technology and innovation, export assistance, programs for women and minorities, and government contracting.

SSI and SBA also will work jointly to identify investment opportunities for U.S. businesses in India, promote strategic alliances and cooperation between small and medium businesses in both countries and, in the process, help create more jobs.