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How to raise money; MSMEs can take lessons from NIESBUD

Noida, Sept 12 (KNN) Raising finance is one of the most difficult and tricky jobs for the self-promoted entrepreneurs. There are a whole lot of issues which needs to be understood and tackled, but are beyond the comprehensions of small scale entrepreneurs forcing them to resort to expensive informal sources of finances.

To address the issue, the National Institute for Entrepreneurship and Small Business Development (NIESBUD) is holding a workshop here for the upcoming entrepreneurs, to enter the business and learn about raising loans, making bankable project report, raising private equity and venture capital.

NIESBUD is an apex body under the 
Ministry of Micro, Small & Medium Enterprises for coordinating and overseeing the activities of various institutions/agencies engaged in entrepreneurship development particularly in the area of small industry and small business.

The workshop, to be held on September 27 and 28 should be beneficial for the entrepreneurs, consultants, managers and the entire professional who are concerned with raising capital and meeting financial needs.

Also, NIESBUD also aims to train the students who are in the process of standing their venture.

The event would orient the entrepreneurs in raising the finances for expansion, new units from different available resources, banks, financial institutions, venture funds, private equity etc., NIESBUD said in a notification.

Preparation of bankable project reports, formalities in approaching banks etc would also be addresses, the notification added.

There will be an open discussion and interactive sessions with the senior bankers, VC managers and professionals.

“The programme is beneficial for all those who want to set up their own businesses. Senior bankers from State Bank of India, Oriental Bank of Commerce and Canara Bank will take an informative open house session with them,” said Programme Coordinator for NIESBUD.

The programmes of the Institute are largely Government funded, as entrepreneurship and skill development is a promotional and industrial extension activity.