Introduction
The Ministry of Micro, Small & Medium Enterprises (MSME) is working hard to promote entrepreneurship among small businesses in India. This has led to the creation of a new digital platform called CHAMPION which connects entrepreneurs with investors and lenders.
CHAMPION is an acronym which stands for Creations and Harmonious Application of Modern Processes for Increasing Output and National Strength.
CHAMPION is an acronym which stands for Creations and Harmonious Application of Modern Processes for Increasing Output and National Strength.
CHAMPION is a digital initiative launched by the MSME Ministry in December 2018, with the objective of fostering entrepreneurship and innovation at the grass-root level. It aims to provide a platform that will enable small businesses to access resources like loans, credit facilities etc., while also providing them access to market research data on their products or services that they can use on improving their product quality or marketing strategies.
This is a digital initiative which was launched by the Ministry of Micro, Small & Medium Enterprises (MSME) in December 2018.
The Ministry of Micro, Small & Medium Enterprises (MSME) has launched a digital initiative called CHAMPION. This is an acronym which stands for Creations and Harmonious Application of Modern Processes for Increasing Output and National Strength.
CHAMPION is an initiative that aims to promote e-commerce in India by creating awareness about its benefits among businesses, small traders and consumers alike.
The objective of the CHAMPION program by the MSME Ministry is to foster entrepreneurship and innovation at the grass-root level and across all industry sectors.
The objective of the CHAMPION program by the MSME Ministry is to foster entrepreneurship and innovation at the grass-root level and across all industry sectors. This will help create more jobs, generate more revenue for the Government, improve our competitiveness in global markets, develop new products/services that are commercially viable or otherwise commercially attractive or useful for consumers or users who are not yet aware of their existence.
The major thrust areas include:
- Supporting SMEs (Small & Medium Enterprises) through various modes such as grants, loans etc.;
- Facilitating financing options;
- Forging partnerships between public sector entities like banks etc., private sector players like brokers/MNCs who may have expertise in particular areas where there is demand but no supply due lack of adequate facilities within these entities’ reach;
The government has provided many incentives under this program such as access to credit, skill development, technology upgradation, easy compliance and marketing support to small businesses.
If you are a small business owner and want to take advantage of these incentives, then you should be able to start your own business without any problem. The government has provided many incentives under this program such as access to credit, skill development, technology upgradation, easy compliance and marketing support to small businesses.
For example:
- Access To Credit – Small businesses are not able to get loans from banks or financial institutions because they do not have enough collateral or other assets as security for their loan amounts. However they can apply for loans through Microfinance Institutions (MFI) like Grameen Bank which will provide them with funds on very reasonable terms if they have collateral documents like House Property Certificate or Shares Certificate etc.. These MFIs also offer training programs so that the entrepreneurs learn how best how run their businesses effectively by providing them with all necessary information about marketing strategies etc..
In addition, the CHAMPION Portal will also provide help in getting loans from lending institutions and receiving incentives for new start-ups.
To facilitate the process of getting loans and receiving incentives for new start-ups, the CHAMPION Portal has been developed. The portal will provide help in connecting potential investors with entrepreneurs who are looking for funding. In addition, it helps in setting up an incubator where budding entrepreneurs can work on their ideas without any pressure from investors or banks, as well as providing training workshops on topics like taxation laws and accounting procedures for startups.
This is possible because it will connect potential investors with entrepreneurs who are looking for funding.
This is possible because it will connect potential investors with entrepreneurs who are looking for funding. The CHAMPION Portal will help in getting loans from lending institutions and other financial institutions, which can be repaid over a period of time. The government has provided many incentives under this program such as access to credit, skill development, technology upgradation and marketing support.
All small businesses need to register on the CHAMPION Portal.
The CHAMPION Portal is a portal that allows small businesses to find funding, marketing support and other incentives.
The Ministry of MSME has also launched an e-platform for entrepreneurs to register their business on this portal. This will help connect potential investors with entrepreneurs who are looking for funding.
Conclusion
After reading this article, you should have an idea about the objectives of CHAMPION. It seems that this is a good initiative by the MSME Ministry to help small businesses get more funding and access new technology. The best part about it is that it will also make it easier for investors to find promising entrepreneurs who can use their services in future years. If you are interested in registering on the portal then go ahead!