Cottage and small industries sees impressive growth

Cottage and small industries sees impressive growthCottage and small industries saw an impressive growth of 21 percent, last year. Cottage and small industries now make up 96 percent of the country’s total industries.

From 12,000 in 2013 the number of cottage and small industries rose to 15,000, last year. More than 2,600 licenses were issued in 2014.

An overwhelming majority of the licenses issued were for service category in tourism and hotel industries. There are three sectors under cottage and small industries. Contract sector saw the second highest growth followed by production and manufacturing sector.

Senior Industrialist Officer from the Department of Cottage and Small Industries under economic affairs ministry, Pema Dekar said economic growth of the country is one of the reasons why there is a boom in the cottage and small industries. She said other players like labour ministry and Loden Foundation which pushed the growth.

All the dzongkhags saw positive growth rate, according to cottage and small industries report, 2014.

The highest growth was noted in Thimphu with 30 percent followed by Paro and Samtse.

From the total number of cottage and small industries, most are sole proprietors and men still continue to dominate ownership of enterprises across all sectors.

Most cottage and small scale start-up were financed from internally generated funds or through informal borrowing from friends and family. Some borrowed from banks.

The minimum employment contributed by the industry is said to be more than 41,000.

 

 

Top Stories

Related Stories

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Recent Comments

Facebook
Twitter
Instagram
YouTube