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the most easiest thing that many don't understand is that, much of our day-to-day economy is hardwired to the ground and we depend on small businesses to do that.
we don't realise that much of India's economic growth was halted and derailed because at the end it affected small businesses.
1. the govt. bought demonetization to catch black money from rich industrialists - it never reached its potential. small businesses and common man was affected
2. when GST was bought in to increase taxes, it didn't affect big industries and companies. it affected small businesses.
3. when complete lockdown was implemented, again small businesses were wiped off.
end result - we slumped a lot.
the United states, a country where big box stores have destroyed mom and pop stores -> 28 million small businesses are there.
what happens when such big box stores and Amazon, Flipkart establish dominance after a decade of discounted pricing ?
in India, small businesses are much complicated because people depend much on that for their livelihood. you destroy that, a whole subsection of Indian pop has to search for work.
economic downturns rarely affect small business because they don't need lots of capital and they have good cash flow.
[a counterpoint: small businesses can be exposed to falling demand and limited cash reserves too. their importance does not make them immune to a downturn.]
do you know why small businesses make economic super powers ?
as the buying power of people increases, anyone can become a small business owner.
yes. anyone can become a small business owner.
do you have a talent ?
can you bake a cake ? are you the best samosa maker ? can you make the best pencil art ?
what do you have that other people would be willing to pay money for ?
it turns out entire India into a land of small businesses where one can buy from another, an interchanging increase in exchange of cash flow from one another,
largely boosting the economy.
remember - we don't want India's cash to go outside. We want more foreign money to come into India and buy our stuff. It automatically increases our value of currency and makes us all rich.
[a qualification: export receipts alone do not establish how much a currency will appreciate or how the gains will reach households. “automatically” makes the argument stronger than the evidence presented here.]
this is my small business dream.
if the United states can have 28 million small businesses, India can have 100x of that much more easily.
it practically should be an additional revenue stream for any adult. That's how large the market is.
we are severely underestimating small businesses
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