The relationship between creativity and entrepreneurship.
I often have a debate with my husband about selling art. He is a self taught but talented artist. Now and again people see his art on facebook, and ask for the price of certain pieces. He is hell bent on the point that he wont sell his art. Somehow according to him, that will lower the value of his creation. But my point is if all the famous artists in the world would have said this, would they become famous? The symbiotic relationship between creativity and entrepreneurship is the master key towards success.
Every thing that becomes big down the line, starts with a small brave step. There are many brave people who have followed the call of their creative soul and in turn started their own MSME.
What is MSME?
Micro, Small and Medium Enterprises are known by the acronym MSME. They account for the third largest GDP enhancer in India, after agriculture and industry. According to a recent reclassification of enterprises under the Atma Nirbhar Bharat Abhyan, Micro enterprises need an investment of < Rs.1 crore and annual turnover of < Rs.5 crore. Small enterprises -< Rs.10 crore & < Rs.50 crore and Medium enterprises < Rs.50 crore & < Rs.250 crore respectively.
Employment – Role of MSME in creating more jobs
Employment – Role of MSME in creating more jobs
By starting a MSME, you becomes a part of a self sufficient ecosystem but with government support. And give back to society in turn by creating new employment and boost the local gross domestic production(GDP) of an area. MSME’s have been described as the backbone of India’s economy contributing as much as 30% to the GDP.
Source: https://www.financialexpress.com/industry/sme/centre-aims-to-increase-msme-sector-contribution-to-gdp-up-to-50-gadkari/2145902/
Source: https://www.financialexpress.com/industry/sme/centre-aims-to-increase-msme-sector-contribution-to-gdp-up-to-50-gadkari/2145902/
Creativity
Everyone dreams of following their passion and walking down the creative road. If you can supplement your creativity with the added zing of entrepreneurship, then there is no stopping you. Start your own cloud kitchen. Create artisanal products like handmade soaps, candles, woodcraft, leathercraft,artwork, customized nameplates. Start a beauty salon or a daycare. Buy that sewing machine and make exquisite tailored clothes. Just follow your heart. The technical nitty gritties you can always learnt on the way.
Being creative is an added bonus for an entrepreneur as it helps to avoid stagnation. Coming up with new business ideas , creative thinking, keeping things fresh and fun is what helps in boosting any business.
Being creative is an added bonus for an entrepreneur as it helps to avoid stagnation. Coming up with new business ideas , creative thinking, keeping things fresh and fun is what helps in boosting any business.
Women and MSME’s
Women and MSME’s
Out of the 63.3 million MSMEs in India, men run 79.6% of enterprises and women, 20.4%, according to the 2019-’20 annual report of the MSME ministry. (source:
https://scroll.in/article/988166/why-women-run-fewer-than-13-of-indias-small-businesses)
This may be a reflection of the fact that maybe there are many women led micro enterprises which are not properly registered and hence not taken into count. Women play a big role in society other than counting for 50% of the population. They are caregivers, nurturers who hold the family fabric together. For a woman to be empowered, financial independence is of supreme importance. Doing what you love to do and earning money from it simultaneously! Its definitely a win win situation.
How to Register your Business
How to Register your Business
So after you have decided to start your own MSME you need to get it registered. The process of registration is completely online in the GOI portal of udyamregistration.gov.in.
You can get detailed instruction about online registration here
https://cleartax.in/s/msme-registration-india
You can get detailed instruction about online registration here
https://cleartax.in/s/msme-registration-india
Here are some of the biggest benefitsof getting your MSME registered.
- Easier bank loans,
- Subsidy on patent registration
- Overdraft interest Rate Exemption,
- Industrial Promotion Subsidy Eligibility,
- Protection against Payments (Delayed Payments),
- Fewer electricity bills,
- ISO Certification Charges Reimbursement et .
- (Source :https://www.msmex.in/learn/benefits-of-msme-registration-in-india/)
So if you have a dream of starting a small little business of your own, of following your creative heart, then dont delay. Maybe you can think about starting a MSME. Your creative side will get an expression . And the entrepreneur inside you will also get a chance to shine.
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A very helpful post indeed
Awesome post. Quite inspiring.