State government has allocated around Rs 5 crore as bank loan-linked subsidy component for the benefit of entrepreneurs (manufacturing and service based activities) under the New Entrepreneur-cum-Enterprise Development scheme (NEEDS) in the Vellore district.
Collector Sankar announced this while inaugurating a seminar on NEEDS organised by the District Industries Centre on Friday.
“To start up a business enterprise, one requires a fair amount of knowledge about business management, training, financial support, besides sustained efforts,” he pointed out.
In addition to the technical know-how such as procedure for obtaining licences, availing oneself of bank loans and the government rules and regulations to run an enterprise, job seekers should learn to become job providers by making use of the various schemes offered by the state and central governments.
The collector appealed to the District Industries Centre to organise such training and awareness programmes to support the budding entrepreneurs in the district.
General manager of the District Industries Center Jayabalan, project manager Ravi, Regional chief manager of Indian Overseas Bank Radha Venkatakrishnan and other officials were present.