Visakhapatnam – Good time for starting a business here with a major boost for MSME

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It is a good time for starting a business in Visakhapatnam with the government coming up with plans for a major boost for the MSME.

For those in the plans for starting a business, the time and place is just right. Visakhapatnam district is the scene for a major boost for micro, small and medium enterprises i.e the MSME. The plan is in the works already and the District Industrial Promotion Committee is already in the process of setting up at least one MSME Park in every constituency of Visakhapatnam Distict. Land acquisition is already on and starting a business that could become a reality for entrepreneurs here. Existing lands belonging to the government have already been identified such as in Gajuwaka, Bheemili, Parawada and other areas.

The MSME Park will cover an area of Half to one acre and necessary infrastructure will be developed inside the area too. MSME focused campaigns are soon to be launched which will identify those in interested in starting a business in the sector. 100 from the district will be shortlisted. They will go ahead for the state level meet in Tirupati that is scheduled for the first week of February. Under the Zero defect – Zero effect (ZED) Scheme, the registered MSMEs will be offered loans up to 10 crore from the banks and AP State Financial Corporation. The committee will issue the required licenses, including 12 pre-establishment clearances and 11 post-establishment approvals, through single window desk within 21 days.

The scheme is here to boost the entrepreneurs in Visakhapatnam district and starting a business has never been more possible.

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