(i) A person who gets the idea of starting the business enterprise is called as promoter or businessman. In the above case Anand is promoter or businessman.
(ii) The full form of SSI is Small Scale Industry.
(iii) SIDBI has started Digital initiatives / Digital ways to find lender or investor. For this initiative I can suggest the following ways:
(a) SIDBI Startup Mitra: It brings together all stakeholders, start-up entrepreneurs, incubators, investors, industry bodies, mentors and advisors and banks on one platform. It helps in financing and development of new entrepreneurs.
(b) Udyami Mitra: This is a portal launched by SIDBI to improve accessibility of credit and handholding services to MSME’s. Under this portal entrepreneurs can apply for loan without physically visiting any bank branches. The entrepreneurs can select and apply for preferred banks, they can select suitable branch, track their application status and avail multiple loan benefits.
