New Delhi,  October 2023.

With aim to create, foster, and promote the spirit of entrepreneurship amongst India's youth, the National Institute for Entrepreneurship and Small Business Development (NIESBUD) conducted a three-day Capacity Building Programme for Existing Enterprises for Scaling up Business Activities between 27th to 30th September 2023. The programme was supported by the Skill Acquisition and Knowledge Awareness for Livelihood Promotion (SANKALP) Programme, working under the aegis of the Ministry of Skill Development and Entrepreneurship (MSDE).

The three-day programme included 12 sessions on different topics including Micro Lab, Characteristics of an Entrepreneur, Entrepreneurial Motivation–Self Analysis, Creativity, Psycho-Social behaviour analysis for confidence building; Understanding Risk Taking and Goal Setting Behaviour for Enterprise Development, Types of Enterprises, Entrepreneurship Support Ecosystem, Procedures and Formalities of Bank Finance; Preparation of Business Plan Regulatory Compliances for Small Businesses, Entrepreneurial Taxation (GST), Online process of GST Registration, FSSAI Registration Process, and GEM Registration Process.

As a part of the project, NIESBUD is also providing mentoring and handholding services to the candidates after completing the capacity-building programmes for scaling up their business activities for a duration of 2 years.

Lauding the initiative, Shri Atul Kumar Tiwari, Secretary, Ministry of Skill Development & Entrepreneurship, said, "In today's rapidly evolving business landscape, equipping small-scale entrepreneurs with essential skills is not just a necessity but a strategic imperative. Such programs offer practical insights and ongoing support, enabling entrepreneurs to compete on a larger scale, while also nurturing their dreams of playing a pivotal role in India's economic transformation. These capacity-building initiatives are the cornerstone of economic empowerment, providing individuals with the tools they need to succeed in an ever-evolving business world, ultimately strengthening our nation's entrepreneurial spirit and economic resilience."

During this programme, Meta conducted a masterclass for providing digital marketing skills to build capacities of existing and budding entrepreneurs. The masterclass is a part of the three-year Education to Entrepreneurship initiative between the MSDE, NIESBUD and Meta. Under this collaboration NIESBUD and Meta aim to provide access to five lakh entrepreneurs in digital marketing skills over the next three years.

The partnership will also focus on different aspects of value chain development by bringing together common enterprises as collectives, provide focused support in particular dimensions such as accounting, marketing, production, quality management, diversification, technology, etc.

Additionally, stakeholders will assist the beneficiaries with branding, and digital marketing, facilitate handholding support through e-mentoring platform, provide business development ideas and strategies.

Launched in 2018, Skill Acquisition and Knowledge Awareness for Livelihood Promotion (“SANKALP”) is a programme of the MSDE with loan assistance from the World Bank. It aims to improve short term skill training qualitatively and quantitatively through strengthening institutions, bring in better market connectivity and inclusion of marginalised sections of the society.