Focusing on bridging the gap between academic knowledge of entrepreneurs and problem-solving techniques, Small Industries Development Bank of India (SIDBI) and Indian Institute of Management (IIM) Lucknow launched a programme — Management Development Programme (MDP) that would cater particularly to the needs of new micro and small enterprises (MSEs) in growing their business. The two-week programme was initially launched on a pilot basis in a classroom format and the content included case studies, role play, and project discussions.
The programme focuses on MSEs especially those that are through with the enterprise creation stage and would support entrepreneurs to strengthen the growth of business amid increasing global competition. “We intend to institutionalize such MDPs and widen the outreach to more and more MSEs,” Mohammad Mustafa, IAS, Chairman and Managing Director, SIDBI said in a statement as the programme aims to “cover 300 MSEs per year under this programme.”
Entrepreneurs will be equipped with an understanding of key business areas such as marketing management, project management, financial management, production management, human resource management, Government e-Marketplace, management of stakeholders, GST, ease of credit to inspire leadership and innovation, business strategy and economics, and legal aspects. The programme has been launched in consultation with MSE representatives. The entrepreneurs for the pilot belonged to various segments in the manufacturing and services sector and were nominated by public sector banks.
SIDBI in June this year had partnered with co-working company Incuspaze to support MSE entrepreneurs and startups in their hourly, daily, weekly or monthly office requirements. The bank had also said that it would be setting up an accelerator programme for MSEs to grow. It had also introduced a web-based application system for contribution from Fund of Funds for Startups (FFS) for online acceptance of applications for contribution from different alternative investment funds.
The total credit outstanding of public sector banks to MSME sector saw only a marginal increase of 7.38 per cent from Rs 8.20 lakh crore in FY16 to Rs 8.81 lakh crore in FY19. For FY17 and FY18, the amount stood at Rs 8.28 lakh crore and Rs 8.64 lakh crore respectively, as per the RBI data.
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Source: Financial Express