Small businesses create more jobs than large ones

Small businesses create more jobs and add to wealth creation than established large business establishments, experts opined on Monday.

Making a power point presentation at a seminar on 'Entrepreneurship and Innovation in the 21st century' in Kolkata, Boston University professor and the chief knowledge officer of The Chatterjee Group Dr Anil Khurana said data received from Fortune 500 companies in United States show that they employ only nine per cent of the workforce.

''The employment rate has declined over the years from 21 per cent earlier,'' Dr Khurana said, adding that small businesses that had come up over the years had employed more workers compared to the large establishments.

Echoing the comments, Boston University's director of Entrepreneurial Management Institute Professor Peter R Russo said the employment climate of USA was dominated by the large influx of small establishments over the years.

Boston Pledge chairperson and noted consultant Partha Ghosh said entrepreneurs from Bengal, who were pioneers in many respects, should set up an enterprise movement in the region.

Citing examples of multi-local and multinational concerns like Ramkrishna Mission set up by Vivekananda and the 'Bose Speakers' set up by Amal Gopal Bose, he said the youths of the region should give up their inhibitions to establish businesses however small it might be.

UNI