Ernakulam launches 10,000 MSMEs in 250 days as Kerala’s Year of Enterprises gains momentum

Kochi: Ernakulam has become the first district to register 10,000 new enterprises as part of the Kerala government's aggressive push to make the state business friendly.

Ernakulam recorded the achievement in 250 days since the state government launched its Year of the Enterprises (2022-23) on April 1.

Malappuram and Thrissur have also crossed the 10,000-mark of new registration.

The state has generated investments worth Rs 6,274.62 crore with a total of 1,0,1199 new enterprises started during the ongoing fiscal, according to the Directorate of Industries and Commerce.

Ernakulam became the first district to register 10,000 enterprises on Tuesday.

By Wednesday evening, the figure stood at 10,123. The district has attracted investments to the tune of Rs 863.2 crore and generated 24,634 employment opportunities with the new ventures.

The new enterprises include 1,483 in manufacturing sector, 3,522 in service sector and 5,011 in commerce, according to a press statement issued by the department on Wednesday.

The district has set a target of opening 14,610 enterprises this fiscal. The state's target is 1,50,000.

P A Najeeb, general manager, District Industries Centre, Ernakulam, said there has been a huge increase in the number of newly registered micro, small and medium enterprises (MSMEs) in the district compared to previous years due to the various interventions made by the government as part of the Year of Enterprises scheme. Most of the companies registered are in the food sector, he told Onmanorama. He said people exploring the options of starting their own ventures after the pandemic, government's support schemes, ex-NRI investment and ease of registration procedures were among the reasons for the increase in entrepreneurship.

Various events to promote procurement of licence, loans and subsidies were conducted by the department as part of the one-year mission. Review meets are being held in all assembly constituencies led by MLAs concerned.

Entrepreneurship development programmes, investment meets and a technology management development programme were held in the district level apart from nearly 20 entrepreneurship awareness programmes at the block level. Expos were held at the taluk level to the marketing scopes for the entrepreneurs.

As many as 113 interns were appointed to coordinate workshops in the district and senstitise potential entrepreneurs about subsidies and credit facilities. The service of interns is available in all local bodies through a help desk.

As many as 56 applicants were awarded a monetary aid of Rs 1.59 crore through the margin money grant for nano units. The beneficiaries include 42 women entrepreneurs and 14 men. As many as 88 units were given a subsidy of Rs 244.12 lakh through the central government's Prime Minister's Employment Generation Programme.

A financial aid of Rs 6.95 crore was given away to 84 units through Directorate of Industries and Commerce's entrepreneurship aid programme. As many as 98 units were chosen for the Covid consolation scheme. The units were aarded Rs 30.64 lakh.

"As employment-seekers, youth, women and students start their own enterprises a lot of job opportunities are created along with an increase in business investment. The Year of Enterprises Scheme thus helps the young generation fulfil their dreams along with giving a boost to the state's economy and businesses," Najeeb said.