Get help from the Government
Fortunately, the Indian government has taken a number of positive steps to help out new entrants in the SME sector. The government has taken a major step by introducing the SME toolkit in collaboration with ICICI bank and the Indian Finance Corporation.
This toolkit contains a host of valuable advice on how to run and manage a small business in the domestic market. Some of the key components in this toolkit are free software tools like business plan developer and Website builder.
There is an extensive collection of articles on how to manage financial accounting techniques, international business and how to integrate technology effectively in your business. Enablers like legal update facility and a business directory are also provided to make data management convenient for you.
To access the tools from the Website, you have to register with the small and medium enterprises India Website.
Effective use of the Internet
The best way to get advice for business issues is to ask your mentor (if you have one). If you do not know of a senior businessman, ex-boss or business coach who can act as a mentor, your best bet is to get advice online.
Many websites offer business advice these days and you can get effective solutions for your problems (provided you can filter for quality).
The biggest challenge of setting up a new business is to get relevant data about the market. Fortunately this problem can be solved by the effective use of online resources. For example, if you are interested in starting an apparel business, you can easily find out the current market trends and the import-export demand patterns of different apparel items in the market.
You can even source the raw materials needed for your business from wholesalers who might be situated in another part of the country. Not only can the web help you in procuring advice from different sources, it can also act as a bridge between products, customers, distributors and suppliers.
The Zoostr Facebook page also has 12,000 small business owners on it and also represents a place to get advice. Leave a comment and see who replies.