mention three features of small industries.
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1). Labour intensive
Small scale industries are fairly-intensive. They provide an economic solution by creating employment opportunities in urban areas and rural areas at arelatively low cost of capital investment.
2). Flexibility
Small scale industries are flexible in their operations. They adopt quickly to various factors that play a large part in daily management. Their flexibility makes them best suited to constantly changing environment.
3). One-man show
Small scale industry is generally a one man show. It is mostly set up by individuals. Even some small units are run by partnership firm or company, the activities are mainly carried out by one of the partners or directors. Therefore, they provide an outlet for expression of the entrepreneurial spirit. As they are their own boss, the decision making process is fast and at times more innovative.
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Small scale industries are fairly-intensive. They provide an economic solution by creating employment opportunities in urban areas and rural areas at arelatively low cost of capital investment.
2). Flexibility
Small scale industries are flexible in their operations. They adopt quickly to various factors that play a large part in daily management. Their flexibility makes them best suited to constantly changing environment.
3). One-man show
Small scale industry is generally a one man show. It is mostly set up by individuals. Even some small units are run by partnership firm or company, the activities are mainly carried out by one of the partners or directors. Therefore, they provide an outlet for expression of the entrepreneurial spirit. As they are their own boss, the decision making process is fast and at times more innovative.
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