Mass enterprises, which refers to millions of ordinary local businesses, are providers of stable job opportunities and the sector, if nurtured, can help address the country’s unemployment issues, according to survey report titled ‘Mass Entrepreneurship in Tamil Nadu’.
This study is a first of its kind and size by a private entity in an attempt to get an in-depth understanding of the working, financial knowledge, challenges and mindsets of Mass entrepreneurs. The survey was done through college students across Tamil Nadu.
Poornatha along with TiE Chennai and G.A.M.E. India released the Survey Report in India on Mass Entrepreneurship in the presence of Mr CK Ranganathan, President- TiE Chennai and Founder Chairman of CavinKare, Ms Akhila Rajeshwar, Executive Director- TiE Chennai and Mr Madan Padaki Co-founder of G.A.M.E.
Key take-aways from the report:
- Mass enterprises are stable job providers: the average age of businesses surveyed was 13 years with about 50% of them at least 10 years old
- Among mass enterprises, manufacturing firms are a key opportunity, typically employing more people than the service industry, generating more revenue per employee, and having less informality (e.g. more supply chain credit, higher percentage of second line managers)
- Minimal digitisation of accounting and poor cash flow management are common and possible barriers to accessing finance
- Accounting, managing finances & statutory requirements are the areas that majority mass entrepreneurs need support
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