Revision Notes For Class 11 Business Studies Chapter 9 Small Business

Small business is a chapter that portrays the issues with regards to the size of the business enterprise. Concepts covered in this chapter are – meaning and nature of small business, administrative setup for the small scale, agro and rural industries, role of small business in India, role of small business in rural india, problems of small business, government assistance to small industries and small business units, institutional support – National Small Industries Corporation (NSIC), Small Industries Development Bank Of India (SIDBI), incentives – land, power, water, sales tax, octroi, raw materials, finance, industrial estates, tax holiday, the future.

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Frequently asked Questions on CBSE Class 11 Business Studies Notes Chapter 9: Small Business

What is ‘Small Business’?

Small business is defined as a privately owned corporation, partnership, or sole proprietorship that has fewer employees and less annual revenue than a corporation or regular-sized business.

What are the advantages of ‘Small businesses’?

1. Independence 2. Financial rewards 3. Lifestyle 4. Creative freedom 5. Personal satisfaction

What is a ‘Tax holiday’?

A tax holiday is a government incentive program that offers a tax reduction or elimination to businesses.

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