Supporting Small Business
According to EG. Research & Development Team, India is, was and have been home for small businesses which accounts to almost 90% of all businesses in India however revenue channels aren't strong as its been a conventional method and there are no scientific developments in the field. However, sector has emerged as a highly vibrant and dynamic sector of the Indian economy.
Govt runs various schemes aimed at financial assistance, technology assistance and up gradation, infrastructure development, skill development and training, enhancing competitiveness and market assistance. However, almost 70% of small businesses aren't aware, as there is lack of promotional channels available.
Growing Entrepreneurial percentage is the indication to the prosperity of the nation and it's the same formula worldwide. Small and independent businesses have undoubtedly played an integral part in spearheading the fast-paced growth of our country, boosting the economy, creating jobs and ultimately, serving as a foundational stepping-stone towards economic growth. Yet, there is a lot of uncertainty to consider when we allow these businesses to continue in the same methods.
EG. Research & Development Team has plans to work with entrepreneurs from various fields helping them in their own field to prosper:
- By Educating Them about Govt Schemes, Govt Facilities along with providing Business Insights in their own languages either through Video, Audio or Pictorial Format.
- As most of the small businesses are pushing stock of big businesses as its considered as safe method, there is less innovation in this field. So, EG. Team will provide them innovative methods how to inculcate innovative thoughts into their current business methods to increase their business.
- There are numerous innovations in the field of science, handicrafts, which never get the limelight because of which those, such innovative methods are dying down. So, EG. R&D team is going to work with Govt to bring them to limelight.
- It's already said 90% of the businesses which open shut doors within 1 year of inception, which might be because of competition, budget or their ideation problem. EG. R&D team is open to incubate such innovators not only work with them but also try funding few of them internally or get them funding by educating them about finances.
- Idea of EG. R&D team is basically to become a business insights seeking platform and provide all kinds of research information which are needed today by the small businesses to make them profitable and live their dream.
- Businesses are going to get leads from EG. R&D Team as there would be a lot of customers who would be seeking for help to get tasks completed which might be related with the Govt or Small Businesses.
- EG. Team also has an app, which basically is installable and help students to recharge their wallet from where small businesses can earn commission. Also, by this way, we are also promoting them on our website and help students to locate nearby business from which they can get their wallet recharged.