Question

State with reasons whether the following statements are true or False.

Small business is not suitable for developing countries.

Answer 1

Small scale business is not suitable for developing counties- False

Explanation:
The above statement is incorrect. Small-scale business is crucial for the development and growth of adeveloping country like India, where a large proportion of the population resides in rural areas. This is because small industries absorb surplus labour from the rural areas, thereby providing employment to them.