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Question
Small-scale business plays a significant role in the socio-economic development of the country, still, it has to face various problem. Comment.
Small-scale business plays a significant role in the socio-economic development of the country, still, it has to face various problem. Comment.
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Solution
It is true. Small-scale business has to face various problems like :
(I) Shortage of raw materials and power: SSIs do not get raw material of good quality at reasonable prices.
(ii) Inadequate funds: SSIs do not get sufficient funds to purchase machinery, equipment etc.
(iii) Old technology: They are unable to face competition in the market due to use of old and outdated technology, problem of marketing, lack of managerial skills, untrained employees, competition etc are various problems faced by SSI due to which they could not compete and survive in the market and has to finally shut down.
It is true. Small-scale business has to face various problems like :
(I) Shortage of raw materials and power: SSIs do not get raw material of good quality at reasonable prices.
(ii) Inadequate funds: SSIs do not get sufficient funds to purchase machinery, equipment etc.
(iii) Old technology: They are unable to face competition in the market due to use of old and outdated technology, problem of marketing, lack of managerial skills, untrained employees, competition etc are various problems faced by SSI due to which they could not compete and survive in the market and has to finally shut down.
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