SIDBI launches portal to promote young entrepreneurs

Small Industries Development Bank of India (SIDBI) has launched a website for promoting youth entrepreneurship and simplifying the process of establishing businesses. The website has a number of sections that provide information on a slew of topics that include.

Thinking and planning new entrepreneurship: Focuses on series of steps to convert ideas and thoughts to viable business propositions.

Funding: Talks about various types and sources of financing entrepreneurs can avail, the lending criteria of banks and how to approach a bank for funding are the queries answered in the section.

Policies and regulations: Provides details on various policy measures, schemes and incentives offered by Central and the State governments.

Environment: Talks about energy efficiency and how it can be attained.

Existing entrepreneurs: Provides information to existing entrepreneurs on how to better manage their businesses.

Exports: Has information relevant to MSME exporters.

Resources: Provides access to state financial corporations in India.

All in all, the sections assist in choosing the right business opportunity, understanding the forms of business organisations as well as helping in preparation of a business plan and a detailed project report for availing finance from the banks. The sections also talk about the requirements of banks/financial institutions and how to deal with them (there is a section on finance and legal basics).

Users can also find reports, case studies and white papers on the industry of their choice and get access to information on policies, schemes, acts and regulations by Central and State governments and other facilitating institutions. They can browse through relevant information and also download forms and schemes.

S Muhnot, chairman and MD, SIDBI, said, "SmallB.in is a initiative for those enterprising individuals who are thinking of starting a business. It helps in preparing a business plan; understanding policies and regulations; funding the business and managing it in the context of the environment and sector; plan exports, etc."

The information provided on the site is detailed and could come in handy for the aspiring entrepreneurs without prior experience. The site also features information/stories of some of the most successful companies that include companies like Info Edge, Just Dial, Bill Desk, Infosys, among others. Do try out the site and share your views.

(Edited by Prem Udayabhanu)