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Though they lack the fire power by way of large capital base and cutting edge technology, small scale businesses overcome these shortcomings with local support and nimbleness to adapt to quick changes in market conditions. Demand based changes in product lines, which take months and often years in large scale corporations are completed very fast in small business. This enables them to align with local customers, based on feedback on a one to one basis. Elaborate budgets and big ticket managers give way to direct customer contact, leading to lower costs which results in cheaper products / services to the customers. Here common sense has more importance than degrees from top universities and business schools.

Small business have played an impressive role in the economic development of the country. These enterprises thrive due to the various mutual benefits shared with the local area by providing gainful employment to both skilled and unskilled workmen in the close proximities.

This generation of income contributes to the local demand of commodities leading to an overall well being. Locally available resources are utilized in a productive manner. Lean production method results in optimal cost with better quality. This was the development model of Japan after it was devastated by World War II. It became a major economic power with the help of many small entrepreneurs contributing immensely to the nation's economy. Now it is the right time for India to lead the world as an economic power.