UdyamSarathi in Supporting Rural Businesses
Business Planning
Proper business planning is crucial for Self-Help Groups (SHGs) for several reasons. First and foremost, SHGs are typically composed of individuals from economically disadvantaged backgrounds who come together to pool their resources and engage in income-generating activities. Without a well-thought-out business plan, these groups may lack direction and a clear roadmap for achieving their financial goals. Business planning helps SHGs identify viable business opportunities, set realistic objectives, allocate resources efficiently, and manage risk effectively. It also fosters a sense of empowerment and accountability among group members, encouraging them to actively participate in decision-making and ensuring that everyone is on the same page regarding the group’s vision and strategy.
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