The untold story of India’s nano-entrepreneurs

The recent Indian entrepreneurial narrative is often dominated by the meteoric rise of micro, small, and medium enterprises (MSMEs). According to the Ministry of Micro, Small, and Medium Enterprises (MSME), India has over 24 million registered MSMEs. These businesses, with their audacious but practical ideas and growth potential, are the darlings of investors and policymakers alike.
Their contribution of about 30% to India’s GDP and 45% to exports is a testimony to the immense impact their growth has on the country’s economy. Among these are micro-enterprises, defined as businesses with an investment in plant and machinery not exceeding. They form about 97% of the registered MSMEs and significantly contribute to employment generation, GDP, and exports.
However, in this focus on the contribution of microenterprises, we often risk overlooking a crucial segment at the very base of the pyramid: the nano entrepreneur.
Nano enterprises are often defined as businesses with less than INR 1 crore in annual turnover. India boasts over 10 million nanoentrepreneurs, with each nano enterprise estimated to employ an average of 1.5 to 2 individuals. These are undocumented networks of nano entrepreneurs—individuals with innovative ideas, often operating from their homes or local communities, with minimal investment.
There are a few programs in the country that focus on nano entrepreneurs. From traditional handloom weavers to small street food vendors, these individuals are the lifeblood of local economies. But the challenge is recognising and nurturing this potential. Nano-entrepreneurs often lack access to training, mentorship, credit, and basic infrastructure. They operate on the fringes, and their ingenuity is often unrecognised. But Swakalpa is solving this problem one step at a time!
Swakalpa: A self-employment and entrepreneurship development program
“Swakalpa,”  a program that aims to equip 10,000 ambitious youth with the necessary skills and knowledge on self-employment and entrepreneurship and establish at least 1,000 micro-businesses in the states, with a minimum 25% representation of women at all stages. It offers a 100-hour entrepreneurship skills training program with a curriculum that goes beyond technical skills, delving into critical areas like market research, financial management, and business planning.
Shortlisted candidates will receive 24 weeks of personalised mentoring, helping them navigate the challenges of establishing and running their microbusinesses. It empowers nano-entrepreneurs across diverse sectors by facilitating bank linkages, fostering innovation through digital tools, and supporting traditional businesses to stay competitive in evolving markets.
So far, the program has trained and certified more than 8,500 candidates across 27 districts of Odisha, set up more than 300 nano businesses with more than 70% owned by women and some by transgenders, facilitated 300+ financial linkage applications, on-boarded 15+ ecosystem partners, and increased the revenue of many enterprises through mentorship.