Ministry of MSME opens Consultancy Cell at NIESBUD

National Institute for Entrepreneurship and Small Business Development (NIESBUD), an autonomous organization under the Ministry of Micro Small and Medium Enterprises, announced the opening of a coaching, mentoring and consultancy cell for Entrepreneurs. The objective of the cell is to help and guide the prospective and existing entrepreneurs in their roadblocks.

The release from the ministry pointed out that the consultancy and guidance would be provided on following areas:

1. Idea generation, planning, formulation and implementation

2. Financial challenges and solutions

3. Marketing of a new / existing venture

4. Human resource challenge (Hiring, recruitment, training, retrenchment, motivation)

5. Expansion of venture

6. Strategic planning and intervention

The resource panel in the cell comprises of experts from Business Management and Administration, Entrepreneurship, Banking, Economics, Human Resource Management, Finance and Strategy.

The NIESBUD focuses its attention on small business development by encouraging and supporting arrangements in remote and backward areas. The number and percentage of small business among small entrepreneurs is very large. The institute concentrates its efforts on evolving methodology for training, supporting and sustaining this Group. The Institute organises national as well as International Meets for sharing experiences with a view to enhance success in implementation of entrepreneurship development programmes. The institute also organises Workshops and Seminars on comtemporary topics/issues such as sustaining entrepreneurship, emerging entrepreneurial opportunities etc. and encourages foreign delegations for mutual exchange of experiences.