West Bengal Government Initiatives and Schemes to Support MSMEs

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Like any other authority, the government and directorate of West Bengal have released several programs to make sustainability achievable for MSMEs. Keeping the present industrialization situation in mind, the state strives to motivate future entrepreneurs. This is why they have come up with several schemes and initiatives.

Considering the need of the hour, the directorate of MSMEs wants the enterprises to adopt intensive programs to eliminate one of the biggest challenges. It is the communication gap. If you are planning to start a micro, small or medium enterprise, you will need strong determination and risk-taking capacity to make your business strengthful.

Undoubtedly, West Bengal holds a predominant position in the country when it comes to developing all micro, small and medium scale enterprises. The state government has taken up some strategic initiatives to promote the development of such enterprises in the state.

This support is extended to business owners and enterprises and has resulted in the incredible growth of MSMEs in the state. Besides making way for the commencement of new enterprises, the scheme has helped several existing enterprises grow and excel.

The enterprises have obtained several benefits in employment, investment, and export. Furthermore, the MSME sector has employed several individuals, creating job opportunities.

MSME Businesses in West Bengal

The department of MSME in the state acts as a nodal office in helping frame the operational policies and implement several beneficial activities and programs. They play a pivotal role in the development and growth of the MSME sector. The department operates and strives to facilitate sustainability and promotion of Textiles, MSME, Handloom, etc.

Considering the strength of different enterprises operating in the state, the department undertakes numerous interventions for the accelerated growth of the sector. Various promotional schemes and integrated development are aimed to provide the ease and feasibility to operate in the highly competitive world.

Furthermore, the department aims to offer assistance in several sectors, including finance, technical, physical, and marketing. The department encourages all private entities to set up several parks specific to the sector and have multiple products.

Assistance Offered At Different Stages

The ministry of micro, small and medium enterprises offers assistance to businesses at different stages to make sure things go smoothly. Let’s dive deep into the different stages at which they offer assistance and the different types of assistance offered.

At The Pre-Investment Stage

  • Interaction with the officers and field-level officers.
  • Training support EDP or training offered to the artisans and other similar people involved.
  • Motivational seminars/programs and campaigns to attract new entrepreneurs.
  • Sponsoring the loan cases to the different financial institutions.
  • Consultancy for preparing schemes.
  • To obtain pollution clearance.

At The Post-Investment Stage 

  • To offer subsidies.
  • Application for Udyog Aadhaar Memorandum.
  • The buyers and sellers meet in collaboration with the MSME-DI.
  • Counseling support on all issues related to delayed payments.
  • Support for the quality control facility.
  • Marketing support and participation in industrial affairs.

The Department of the MSMEs focuses on several other activities besides the ones listed above. They make sure that the enterprises of West Bengal don’t lag and are offered the best assistance to thrive.

Let us go over those assistance schemes to see how they are making it easy for enterprises to grow.

  • Promoting the startup culture and entrepreneurship throughout the state with equity support and policy measures. They have a venture capital fund for the support, and it is called the WB MSME Venture Capital Fund.
  • Providing all required policy support to facilitate the growth and development of the MSME&T sector in the state.
  • Creating numerous employment opportunities keeping the SC/ST community and the economically weaker section of the community in mind. The development of enterprises creates employment opportunities for people.
  • Offering handhold support to the enterprises to set up or expand their businesses through a single viewpoint.
  • Strengthening the participation of and support of the cooperatives and SHGs in the production and marketing in MSME. Their major focus is to strengthen the weaker section of society.

The district industry centers provide several other additional schemes, assistance, and escort services to the entrepreneurs. We mention a few of them below for our readers to have a broad idea of how the government is helping the business sector.

  1. Promotion of the new industrial estate or growth centers.
  2. Technical support for the preparation of a project report.

iii. Priority in telephone connection and project supply.

  1. Promotion of the electronic industries.
  2. Information on equipment and the sources of machinery.
  3. Assistance in getting the land/shed in industrial estates.

vii. Marketing assistance by participating in exhibitions, buyers-sellers meet, trade fairs, etc.

vii. Assistance under the Equipment Leasing Scheme and Hire purchase of machinery scheme of the NSIC ltd.

viii. Management qualities improve through workshops, training, and seminars.

The Bottom Line

The micro, small, medium, and textile enterprise sectors in West Bengal are one of the most dynamic, dominant, and vibrant sectors. This sector makes the state renowned across the globe and plays a vital role in offering several employment opportunities. The state also strives to make the department stronger by offering the required assistance. They try their best to enable businesses to thrive and survive in a highly competitive world.