Mumbai, August 26, 2010: Ernst & Young and Franchise India, India’s largest integrated franchise retail and licensing solution company today released a report on small and medium businesses titled -“Top 100 Cities for Small Business in India”.
India’s rapid economic expansion has raised entrepreneurial interest across the society. The report identifies 100 Indians cities which due to their unique positioning can potentially galvanize the growth of small business and hence ideal location for starting one. The report observes that certain states like Gujarat, Maharashtra, and Andhra Pradesh have been relatively more proactive towards providing the fitting stratosphere for the prolific growth of small business. The report aims to discover new avenues for small business catchment to etch their triumph.
The ranking draws its data from two sources; Government hard data and Opinion survey. Opinion survey is a unique tool for timely and vital information regarding perception about various cities over varied important indicators regarding starting a small business venture. Thus imparting a unique source of insight about their entrepreneurial incubation capacity.
On the occasion, Franchise India announced its association with process advisors E & Y for the Small Business Awards, the country's most prestigious awards in the micro, small and medium businesses on August 28, 2010 at Hotel Novotel, Juhu Beach Mumbai. The awards aim to recognize and felicitate Achievers, Innovators and Suppliers who have contributed significantly towards the development of Small and Medium Enterprises in India.
Gaurav Marya, President, Franchise Indiasaid on the occasion “Small and medium enterprises are the backbone of the developing nation's economy and contribute about 8%-9% of India’s GDP by providing employment to more than 40 million people in course of producing about 8,000 products. The SME’s comprise 45% of the industrial output in the country and contribute to about 40% of India’s exports.” “Through this report we are highlighting the essential pre-requisites to start a new business which includes demographic Infrastructure, retail activity, regulatory, entrepreneurial ability, ease of doing business, starting a business, dealing with construction permits, employing workers, registering property, getting credit, paying taxes”, he added.
Bharat Kapoor, Sr. Manager, Ernst & Young-Risk Advisory Servicessaid, “Ernst & Young has assisted Franchise India in institutionalizing the process for Small Business Awards 2010. Our role included reviewing the Award concept, assisting Franchise India in validating the nominations and winner determination process, facilitating Jury proceedings and acting as Official Tabulator for the Small Business Awards 2010."
Franchise India Research, an initiative by Franchise India, conducted an annual Survey. The Survey captured new data points essential to lead to an overall ranking of the cities which reflect ease in starting a business. The survey has expanded in its scope of completion, achieving a record sample of over 1000 surveys from 150 cities between January and May 2010. The ranking parameters are divided into 14 sections relating to 45 sub indicators the data gathered thus provide a unique source of insight and a qualitative portrait of each city’s economic and business environment.
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