Financial Study of Small Scale Industries In MIDC area of Dombivli of Thane District

Abstract

The small scale industry (SSI) is vital for development of any region or country. It is useful for equitable distribution of income and wealth in the society. The small scale industries produce goods for not only for local consumption but also can look after satisfaction of wants at national or even at international levels. The small scale industries demand less capital and employ more local labour and hence are particularly suitable for satisfaction of wants and welfare of the society. The social welfare and justice is guaranteed because the ownership of SSI is more widespread and can reach roots of society and offer more employment as far possible as compared to their large-scale industries. The leads to concentration of large incomes and wealth in the hands of few. newlineThe historical preview of small scale industries is known to be of about more than 4000 years ago. Since then, the small business people have been the backbone of the economies providing products and services to their citizens. Small business flourished in almost all ancient and historical cultures. The Indian emperors also created different classes in the society as artisans for producing various arms, implements and other requirements. The Egyptians, Arabs, Jews, Greeks and Romans were pioneers of small businesses. Their products and services, however, were often of lower or poor qualities. Quality was secondary aspect and production for the purpose of consumption was the only objective. There was no much importance given to either quality or even the prices of the goods. Despite many successes the Greek and Roman historians virtually ignored the role of small business and talked more about the other things. Yet it was largely through small business that the traders by doing business in other countries spread law, religions, and philosophy and basic sciences. In the centuries that followed the small businesses, the religions held small business people in low esteem. Although now is held in the higher esteem than ever before, small business remains