MSME is an acronym for Micro, Small and Medium enterprises, and they are the backbone of an economy. To thrive in the highly competitive market and compete with giant enterprises, they need protection and assistance. MSMEs in India lack the required resources and technology to perform in the industry.
To make thriving in the competitive space easy for enterprises, the government is offering assistance of different kinds. The government of every state implements several various programs to promote the establishment of startups. The MSME schemes help develop and promote such enterprises across the country.
No matter in which state you want to start your enterprise, you can seek assistance from the state government in terms of financial or help. The government of Kerala has been proactive in ensuring that the benefits of the MSME schemes are introduced to reach the organizations in time.
The schemes offer immediate relief to the businesses operating in the MSME industry. Today we will explore a few schemes that the Kerala government has released for the MSMEs to operate seamlessly.
● Soft Loan Scheme for Women Entrepreneurs
This scheme is introduced by the Kerala Startup Mission to support all potential women entrepreneurs in the state. Under this scheme, the state government offers a soft loan of Rs. 15 lakhs in the form of working capital. They can use the money granted to implement projects and other works. To avail of this scheme, there are a few criteria that the organization should fulfill to easily apply.
● International Exchange Program
The Kerala government encourages its state’s startups to participate in various programs that take place worldwide. The government hence helps startups visit such events across the globe. Under this scheme, they offer travel reimbursement to make sure that they visit the event and understand more about the industry, network, etc. Several travels to the event are reimbursed throughout the year to make small-sized businesses in the state popular.
● Innovation and Entrepreneurship Development
Under this scheme, assistance and aid are offered to the entrepreneurs and startups with innovative ideas to succeed in the landscape. Such platforms are set up in Management, Engineering, Arts and Science colleges, and polytechnics. Their major objective is to offer people and students an opportunity to explore and innovate in the industry. The scheme aims to develop an innovation culture among the industry’s innovators.
Budding entrepreneurs are also introduced to the industry’s culture and the latest technologies so that they get the required industry exposure.
● Support to The Rural Innovators
The Kerala government introduces this innovation grant scheme to offer assistance to startups and entrepreneurs that operate in the rural landscape. In the rural areas, organizations do not have many resources to carry out their business effectively, and so to help them with their needs, the scheme was introduced. The government helps entrepreneurs convert their innovative ideas into ventures that are beneficial for the state. The grant is to help people develop the prototype of products and set up startups in the state. The ideas should be related to rural innovations and grassroots innovations.
Learn More About – Haryana Government Initiatives And Schemes To Support MSMEs
● Marketing Support Scheme
With the world going digital, the need for digital marketing for a business has skyrocketed. It means that a business is required to market its products and services online for people to know more about the existence of its brand. The Kerala Startup Mission aims to help startups become popular to support the economy in the long run.
This is why they have developed this scheme to subsidize product video creation for businesses. Businesses with good products for the people and those at the early revenue-making stage are offered this assistance.
● Innovation Grant
The government of Kerala has introduced an innovation grant scheme for small and medium-scale businesses to thrive in the industry. Under this scheme, financial assistance is offered to businesses and entrepreneurs so that they can easily convert their ideas into real products. Many entrepreneurs have innovative product ideas, but they cannot make them happen due to a lack of resources.
The Kerala government identifies such ideas and provides them wings so that it is beneficial for the society, the enterprise, and the economy as a whole as well.
Learn More About – Himachal Pradesh Government Initiatives And Schemes To Support MSMEs
● Startup Communities Development and Partnership Programmes
This is a community program started by the Kerala government to identify and pool all potential startups that can venture into Kerala. They aim to encourage the establishment of more businesses to help the state’s economy grow. This is an abundant activity. Under this scheme, students and women entrepreneurs are encouraged more to start something.
● Entrepreneur Support Scheme
Under this scheme, the entrepreneurs are offered all necessary support to make sure they face no difficulty in their operations. The main aim of this scheme is to offer assistance to small, micro, and medium-scale enterprises. They encourage optimal utilization of all available resources and offer the required flexibility for easy operation in the industry.
The support is offered in backend support to the organizations, and financial assistance is offered. The grant can be used to purchase raw materials, implement the newest technology machines, etc.
Learn More About – Assam Government Initiatives And Schemes To Support MSMEs
The Bottom Line
The youth of today’s generation are always enthusiastic about starting something of their own and becoming an entrepreneur. Though, the same is not feasible for all because they often don’t have the resources to get things done. They may have the skills but not the capital to invest. This is where the schemes of the Kerala government come into the picture. With the help of MSME schemes, skilled workers are not deprived of resources and working capital to start their ventures. Mirco, small and medium scale enterprises contribute to the state’s social and economic growth, so the government extends the necessary support.
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- Tamil Nadu Government Initiatives and Schemes to Support MSME
- Gujarat Government Initiatives and Schemes to Support MSMEs
- Maharashtra Government Initiatives And Schemes To Support MSMEs
- West Bengal Government Initiatives and Schemes to Support MSMEs
- Uttar Pradesh Government Initiatives and Schemes to Support MSMEs