CLASS XI: CHAPTER 8 QUESTION BANK
Small Business and Enterprises | 10 Practice Sets (CBSE 2026-27)
📌 General Instructions for All Sets:
- Maximum Marks: 25 | Time Allowed: 45 Minutes
- Questions 1-5 are objective type carrying 1 mark each (MCQs & Assertion-Reasoning).
- Questions 6-7 are short answer type carrying 3 marks each (30-40 words).
- Questions 8-9 are short answer type carrying 4 marks each (50-80 words).
- Question 10 is a long answer type carrying 6 marks (100-150 words).
- Strictly adhere to the latest MSMED Act classifications and CBSE Competency/Case-Based format.
📄 PRACTICE PAPER - SET 1 (Level: Easy - Fundamental Concepts)
SECTION A (1 Mark Each)
1. The process of setting up a business by taking financial risks in the hope of profit is called:
[Case-Based] An enterprise has an investment in plant and machinery of ₹80 Lakhs and an annual turnover of ₹4 Crores.
2. Under the revised MSMED Act, this is classified as a:3. Which of the following Intellectual Property Rights protects original literary, dramatic, musical, and artistic works?
4. Assertion (A): Small businesses help in balanced regional development.
Reason (R): They can be set up anywhere, utilizing local resources and preventing the concentration of industries only in metropolitan cities.
Reason (R): They can be set up anywhere, utilizing local resources and preventing the concentration of industries only in metropolitan cities.
5. Assertion (A): NSIC was established to exploit small businesses.
Reason (R): NSIC supplies indigenous and imported machines on easy hire-purchase terms to foster the growth of small enterprises.
Reason (R): NSIC supplies indigenous and imported machines on easy hire-purchase terms to foster the growth of small enterprises.
SECTION B (3 Marks Each)
6. Define 'Entrepreneurship'. State any two of its characteristics.
[Case-Based] A young innovator invented a new machine that cleans river water at half the usual cost. He wants to ensure no other company can manufacture or sell this machine without his permission.
7. Which specific Intellectual Property Right (IPR) should he apply for? What is the main purpose of this right?
SECTION C (4 Marks Each)
8. Explain any four roles played by small businesses in the socio-economic development of India.
[Case-Based] A group of rural women wants to start a small-scale pickle manufacturing unit but lacks knowledge about credit facilities, raw material sourcing, and licenses required in their district.
9. Which government agency at the district level should they approach? Explain any three functions of this agency.
SECTION D (6 Marks Each)
[Case-Based] Mr. Amit is evaluating his manufacturing business. Currently, his investment in machinery is ₹8 Crores and his annual turnover is ₹40 Crores. He plans a massive expansion next year, where his investment will increase to ₹25 Crores and turnover will touch ₹150 Crores. He wants to know his business classification to avail government subsidies. Concurrently, he relies heavily on his specific brand logo (a flying eagle) to sell his goods, but a rival company recently copied it.
10. Answer the following based on the case:(a) Under the revised MSMED Act, what is the exact classification of Mr. Amit's business **currently**, and what will it be **after the expansion**?
(b) Identify the specific **Intellectual Property Right (IPR)** his rival violated by copying the logo. Explain how this IPR helps a business.
📄 PRACTICE PAPER - SET 2 (Level: Moderate - Application & Analysis)
SECTION A (1 Mark Each)
1. What is the maximum investment limit in plant and machinery or equipment for a 'Small Enterprise' as per the revised MSMED Act?
[Case-Based] A founder uses his own personal savings and borrows from family members to fund his startup without taking any outside institutional money.
2. This method of funding is known as:3. The 'Startup India' scheme was launched by the Government of India primarily to:
4. Assertion (A): Trademarks protect inventions and new technologies.
Reason (R): A Trademark is a visually perceptible sign used to distinguish the goods or services of one enterprise from another, whereas Patents protect inventions.
Reason (R): A Trademark is a visually perceptible sign used to distinguish the goods or services of one enterprise from another, whereas Patents protect inventions.
5. Assertion (A): Small businesses are highly labor-intensive.
Reason (R): Therefore, they generate less employment per unit of capital invested compared to large-scale industries.
Reason (R): Therefore, they generate less employment per unit of capital invested compared to large-scale industries.
SECTION B (3 Marks Each)
6. What is the 'Startup India' Scheme? Mention two of its key benefits/incentives provided to entrepreneurs.
[Case-Based] A famous tea is exclusively grown in Darjeeling, getting its unique flavor from the region's climate. The local farmers want to protect the name "Darjeeling Tea" so no one else can misuse it.
7. Which specific Intellectual Property Right (IPR) is applicable here? Explain it briefly.
SECTION C (4 Marks Each)
8. Differentiate between a 'Micro', 'Small', and 'Medium' enterprise based on the revised composite criteria (Investment and Turnover) under the MSMED Act.
[Case-Based] After setting up a small business, Rohan found it extremely difficult to compete with large corporations because he could not afford to buy raw materials in bulk or advertise on national television.
9. Identify the problems faced by small businesses highlighted here. Explain any two other problems faced by small businesses in India.
SECTION D (6 Marks Each)
[Case-Based] Ms. Riya is establishing a small-scale textile business in a rural district. She needs machinery but lacks full funding. She approaches an agency set up by the Central Government that provides indigenous machines on a hire-purchase basis and assists in marketing exports. Later, she needs clearance for electricity and a feasibility report for her project. For this, she goes to the state government's focal point situated in her own district, which provides all services under one roof to small entrepreneurs.
10. Identify the **two different government agencies** approached by Ms. Riya. By quoting lines from the paragraph, explain **two functions** performed by each of these two agencies.
📄 PRACTICE PAPER - SET 3 (Level: Moderate-High - Nuanced Competency)
SECTION A (1 Mark Each)
1. Which of the following is a core characteristic of Entrepreneurship?
[Case-Based] A startup pitches its business idea online to the general public, asking thousands of people to invest a very small amount of money each to reach their funding goal.
2. This funding method is known as:3. Confidential business information that provides an enterprise a competitive edge (like the recipe for Coca-Cola) is protected under:
4. Assertion (A): Small businesses adapt easily to changing market conditions.
Reason (R): Due to their small size and direct contact with customers, small businesses have a highly flexible structure allowing for quick decision-making.
Reason (R): Due to their small size and direct contact with customers, small businesses have a highly flexible structure allowing for quick decision-making.
5. Assertion (A): NSIC operates at the district level under the State Government.
Reason (R): District Industries Centers (DICs) are the central government agencies that supply imported machinery on hire-purchase.
Reason (R): District Industries Centers (DICs) are the central government agencies that supply imported machinery on hire-purchase.
SECTION B (3 Marks Each)
6. Explain the need for 'Entrepreneurship Development' in a developing country like India.
[Case-Based] 'TechNova' is a startup with a high-growth potential idea but no prototype. A wealthy individual, Mr. Sen, provides them with initial seed money in exchange for ownership equity, using his own personal funds to help them get off the ground.
7. Identify the type of startup funding provided by Mr. Sen. How does it differ from 'Venture Capital'?
SECTION C (4 Marks Each)
8. Explain any four Intellectual Property Rights (IPRs) recognized in India.
[Case-Based] The Government of India established the National Small Industries Corporation (NSIC) in 1955.
9. State any four specific functions performed by NSIC to foster the growth of small businesses.
SECTION D (6 Marks Each)
[Case-Based] 'VillageKraft' is a small business producing handcrafted bamboo furniture in a remote village. It employs 50 local artisans. Before VillageKraft, these artisans were migrating to big cities as daily wage laborers. The business uses locally available bamboo, which requires very little capital to process. The furniture is customized according to the direct requests of the buyers. Because they use manual labor instead of heavy machines, the cost of production is optimized for small batches, allowing the wealth to remain within the village community.
10. By quoting lines from the paragraph, identify and explain **four specific roles** played by this small business in the socio-economic development of rural India.
📄 PRACTICE PAPER - SET 4 (Level: Hard - Analytical Competency)
SECTION A (1 Mark Each)
1. Which funding method involves professionally managed funds that invest in high-potential, high-risk startups, usually in later stages of development?
[Case-Based] An enterprise has an investment in equipment of ₹25 Crores and a turnover of ₹100 Crores.
2. Under the MSMED Act, this is a:3. The right to use the symbol ® indicates that the Trademark is:
4. Assertion (A): Small scale industries excel in providing customized products.
Reason (R): Because of their small scale of operations, they can easily adapt their production process to meet the specific, individualized tastes and preferences of customers.
Reason (R): Because of their small scale of operations, they can easily adapt their production process to meet the specific, individualized tastes and preferences of customers.
5. Assertion (A): Copyright protects ideas.
Reason (R): Copyright protects the expression of ideas (like a written book or a recorded song), not the idea itself.
Reason (R): Copyright protects the expression of ideas (like a written book or a recorded song), not the idea itself.
SECTION B (3 Marks Each)
6. Explain 'Bootstrapping' as a way to fund a startup. Why do many founders prefer it initially?
[Case-Based] A musician wrote and composed a new song. He found that another singer released the exact same song on YouTube without his permission and is making money from it.
7. Which IPR is violated? Explain the protection granted by this specific IPR.
SECTION C (4 Marks Each)
8. Explain the role of District Industries Centers (DICs) in the development of small-scale industries.
[Case-Based] The Government of India introduced the 'Startup India' scheme to build a strong ecosystem for nurturing innovation. To qualify, an entity must meet certain specific criteria regarding its age and turnover.
9. Outline the eligibility criteria for an entity to be recognized as a 'Startup' under the Startup India scheme.
SECTION D (6 Marks Each)
[Case-Based] Mr. Dev started an enterprise. Over the years, the business grew. Currently, his investment in plant and machinery is ₹9 Crores, and his annual turnover is ₹45 Crores. However, he is facing multiple severe challenges. First, he cannot get a bank loan because he has no major assets to offer as collateral. Second, he is unable to hire top-tier MBA graduates because he cannot pay massive corporate salaries. Third, his factory still uses 15-year-old manual machines because he cannot afford to buy computerized robotics. Finally, a large MNC entered the market, selling similar goods at a 30% cheaper rate due to economies of scale.
10. Answer the following:(a) Identify the exact classification of Mr. Dev's enterprise under the MSMED Act.
(b) By quoting lines from the paragraph, identify and explain the **three specific problems** faced by Mr. Dev's small business.
📄 PRACTICE PAPER - SET 5 (Level: Advanced - Evaluation Competency)
SECTION A (1 Mark Each)
[Case-Based] To encourage entrepreneurship, the 'Startup India' scheme offers an income tax exemption to eligible startups for a block of:
1.
2. A patent granted in India generally gives the inventor exclusive rights for a period of:
[Case-Based] The practice of funding a project by raising small amounts of money from a large number of people, typically via the internet, is:
3.
4. Assertion (A): Small businesses lack managerial skills.
Reason (R): A single owner or a few partners cannot be experts in all areas like finance, marketing, and production, and they cannot afford to hire specialized professional managers.
Reason (R): A single owner or a few partners cannot be experts in all areas like finance, marketing, and production, and they cannot afford to hire specialized professional managers.
5. Assertion (A): Intellectual Property Rights (IPR) discourage innovation.
Reason (R): IPR grants the creator a temporary monopoly, allowing them to recover their R&D costs and make a profit, thereby incentivizing further innovation.
Reason (R): IPR grants the creator a temporary monopoly, allowing them to recover their R&D costs and make a profit, thereby incentivizing further innovation.
SECTION B (3 Marks Each)
6. Explain the term 'Intellectual Property'. Why is it crucial for a startup to protect its IPR?
[Case-Based] An entrepreneur in a rural district wants an identification number for his small enterprise and needs guidance on buying machinery locally.
7. Which state-level agency should he visit? Mention two other functions of this agency.
SECTION C (4 Marks Each)
8. Explain 'Venture Capital' and 'Angel Investors' as sources of funding for startups. Highlight one key difference.
[Case-Based] 'Innovate India' is recognized as an eligible startup by DPIIT. They want to know what benefits they can claim under the 'Startup India' scheme.
9. Describe any four benefits/exemptions provided by the Government under the Startup India Action Plan.
SECTION D (6 Marks Each)
[Case-Based] Ms. Anjali is an entrepreneur who invented a new drone technology for delivering medicines in rural areas. She successfully acquired a legal right that prohibits anyone else from making, using, or selling her drone invention for 20 years. She named her product 'MediFly' and registered the logo so competitors couldn't use a confusingly similar name. However, to produce these drones, she needed massive funding. Initially, she used her own savings to build the first prototype. Then, she pitched the idea to a professionally managed fund that invests millions in high-risk, high-reward tech startups, giving them 20% equity in return.
10. Answer the following based on the case:(a) Identify and explain the **two different types of Intellectual Property Rights (IPR)** Ms. Anjali secured for her invention and her brand name.
(b) Identify and explain the **two different stages/methods of funding** she utilized (using personal savings vs. professional high-risk funds).
📄 PRACTICE PAPER - SET 6 (Level: Expert - Complex Case Studies)
SECTION A (1 Mark Each)
[Case-Based] A business has an investment of ₹45 Crores in equipment and an annual turnover of ₹200 Crores.
1. This enterprise falls under the category of:2. The Geographical Indications (GI) tag is primarily given to:
3. Assertion (A): Small businesses face the problem of delayed payments.
Reason (R): Large corporations and government buyers often take 3 to 6 months to pay the bills of small businesses, severely disrupting their working capital cycle.
Reason (R): Large corporations and government buyers often take 3 to 6 months to pay the bills of small businesses, severely disrupting their working capital cycle.
4. Assertion (A): Trademarks have a perpetual (lifetime) validity without renewal.
Reason (R): A trademark is registered for 10 years and must be renewed periodically to keep it legally protected.
Reason (R): A trademark is registered for 10 years and must be renewed periodically to keep it legally protected.
5. Which of the following is NOT a function of the National Small Industries Corporation (NSIC)?
SECTION B (3 Marks Each)
6. Differentiate between a 'Patent' and a 'Copyright'.
[Case-Based] The artisans of Kanchipuram weave silk sarees that have a unique quality found nowhere else in the world. They want legal protection to stop fake weavers from other cities selling regular sarees as "Kanchipuram Silk".
7. Which IPR should they use? Explain its significance.
SECTION C (4 Marks Each)
8. Describe the role of small businesses in generating employment and achieving balanced regional development.
[Case-Based] An entrepreneur has a brilliant tech idea but absolutely zero money. He creates a campaign video explaining his idea and posts it on 'Kickstarter' (an online platform). Thousands of regular internet users donate ₹500 each to help him reach his ₹10 Lakh goal.
9. Identify the funding method used. Explain this method and state two of its advantages.
SECTION D (6 Marks Each)
[Case-Based] 'RuralAgri' is a small enterprise located in a backward district. It produces organic jams. It relies heavily on local fruits and local uneducated laborers, training them to work. The District Industries Centre (DIC) helped the owner get the initial registration and a subsidy on electricity. To package the jam, they needed an imported capping machine which was too expensive. The National Small Industries Corporation (NSIC) stepped in and provided the machine on a hire-purchase scheme, allowing them to pay in monthly installments. Due to this support, 'RuralAgri' survived and now stops hundreds of villagers from migrating to cities in search of work.
10. By quoting lines from the paragraph, identify and explain: (a) **One function of DIC** and **One function of NSIC** highlighted.
(b) **Two roles played by the small business** ('RuralAgri') in the socio-economic development of the country.
📄 PRACTICE PAPER - SET 7 (Level: Expert - Integrated Concepts)
SECTION A (1 Mark Each)
[Case-Based] An enterprise is classified based on two composite criteria under the MSMED Act 2020. What are they?
1.
2. In entrepreneurship, the term "Unicorn" generally refers to:
3. Assertion (A): Trade secrets do not require formal government registration.
Reason (R): Trade secrets are protected by keeping the information confidential (like the Coca-Cola formula); registering them would make the information public.
Reason (R): Trade secrets are protected by keeping the information confidential (like the Coca-Cola formula); registering them would make the information public.
4. Assertion (A): Small businesses have an advantage in highly personalized services.
Reason (R): Large corporations focus on mass-standardized production, whereas a small boutique can offer customized tailoring according to individual tastes.
Reason (R): Large corporations focus on mass-standardized production, whereas a small boutique can offer customized tailoring according to individual tastes.
5. Which initiative aims to simplify compliance for startups by allowing them to self-certify compliance with labor and environmental laws?
SECTION B (3 Marks Each)
6. Explain the concept of a 'Trade Secret' with a real-world example. Why is it different from a Patent?
[Case-Based] A software developer writes a unique source code for a new video game. He wants to prevent others from copying or selling his game.
7. Which IPR should he use? What is the general duration of this right?
SECTION C (4 Marks Each)
8. Discuss the process of Entrepreneurship Development. What are the key stages an entrepreneur goes through?
[Case-Based] 'Elite Bakers' started with ₹50 Lakhs investment and ₹2 Crores turnover (Micro). Within two years, their investment rose to ₹5 Crores and turnover to ₹25 Crores.
9. What is their new classification under the MSMED Act? State any three problems they might face as they transition into a larger scale.
SECTION D (6 Marks Each)
[Case-Based] Miss Kavya launched an app that uses AI to detect crop diseases. Being a 'Startup', she utilized the 'Startup India' scheme. The government allowed her an 80% rebate on filing the patent for her AI algorithm, greatly reducing her initial costs. Furthermore, she received an exemption from paying income tax for the first 3 consecutive years, allowing her to plough back profits into the business. When she needed massive funding to scale globally, she approached a Venture Capital firm. The firm rigorously scrutinized her business plan and invested ₹50 Crores, taking a seat on her Board of Directors to guide her strategically.
10. Identify and explain the **two specific benefits of the Startup India Scheme** Kavya utilized. Also, explain **Venture Capital** as a funding method and state **two characteristics** of Venture Capital highlighted or implied in the case.
📄 PRACTICE PAPER - SET 8 (Level: Advanced Board Mock 1)
SECTION A (1 Mark Each)
1. Which characteristic of entrepreneurship emphasizes the ability to perceive a business opportunity and take action to exploit it?
[Case-Based] A small business uses locally available raw materials and traditional skills to manufacture handicrafts, keeping the cost extremely low.
2. This highlights that small businesses:3. Assertion (A): Small scale industries are better suited for products requiring mass production.
Reason (R): Mass production requires heavy, automated machinery which is the hallmark of large scale industries, not small businesses.
Reason (R): Mass production requires heavy, automated machinery which is the hallmark of large scale industries, not small businesses.
4. Assertion (A): Angel investors generally invest their own personal money.
Reason (R): Unlike Venture Capital firms that pool money from other institutions, Angel investors are affluent individuals providing capital from their own net worth.
Reason (R): Unlike Venture Capital firms that pool money from other institutions, Angel investors are affluent individuals providing capital from their own net worth.
5. The agency established at the district level to promote rural and cottage industries is:
SECTION B (3 Marks Each)
6. Explain the term 'Angel Investors'. How do they differ from Crowdfunding?
[Case-Based] A business enterprise has an investment of ₹12 Crores in plant and machinery and a turnover of ₹45 Crores.
7. Determine its classification under the MSMED Act. What are the limits for this specific classification?
SECTION C (4 Marks Each)
8. Briefly explain the 'Process of Entrepreneurship Development' (Discovery of an idea, evaluating it, business plan, resourcing).
9. Discuss any four problems faced by Small Scale Industries in India (e.g., Finance, Raw materials, Marketing, Technology).
SECTION D (6 Marks Each)
[Case-Based] Mr. X and Mr. Y are innovators. Mr. X discovers a new chemical formula to increase battery life by 500%. He files an application with the government, successfully proving his invention is novel, non-obvious, and has industrial application. He gets a 20-year monopoly. Mr. Y writes a highly successful novel. He automatically gets the exclusive right to print, publish, and sell the book for his entire lifetime plus 60 years. Meanwhile, a rival company tries to sell fake batteries using Mr. X's registered brand logo "X-Power", confusing customers.
10. Identify and thoroughly explain the **three different Intellectual Property Rights (IPRs)** involved in the scenarios of Mr. X, Mr. Y, and the rival company.
📄 PRACTICE PAPER - SET 9 (Level: Advanced Board Mock 2)
SECTION A (1 Mark Each)
[Case-Based] A government agency supplies indigenous and imported machines on an easy hire-purchase basis to small entrepreneurs.
1. This agency is:2. A patent is an exclusive right granted for an invention, which is a product or a process that provides a:
3. Assertion (A): Small scale industries are a major source of exports for India.
Reason (R): They produce a vast variety of goods like readymade garments, gems, jewelry, and handicrafts which have a massive demand in international markets.
Reason (R): They produce a vast variety of goods like readymade garments, gems, jewelry, and handicrafts which have a massive demand in international markets.
4. Assertion (A): The Startup India scheme provides a 'Fast Track' mechanism for patent applications.
Reason (R): Startups rely heavily on new innovations. Expediting the patent process ensures they can quickly protect their IPR and launch their products safely.
Reason (R): Startups rely heavily on new innovations. Expediting the patent process ensures they can quickly protect their IPR and launch their products safely.
5. Which of the following limits qualifies an enterprise as a 'Medium Enterprise' under the MSMED Act?
SECTION B (3 Marks Each)
6. What is a 'Trademark'? Distinguish it from a 'Copyright'.
[Case-Based] An entrepreneur in a backward region complains that he is forced to sell his goods to local middlemen at throwaway prices because he has no direct access to urban markets.
7. Identify the problem of small business. State two ways the government assists small businesses in marketing.
SECTION C (4 Marks Each)
8. Explain the role of the 'National Small Industries Corporation' (NSIC) by stating any four of its major functions.
9. Explain how 'Entrepreneurship' contributes to the economic development of a country.
SECTION D (6 Marks Each)
[Case-Based] 'EcoTech' is an entity incorporated in India 4 years ago. Its annual turnover has never exceeded ₹25 Crores. They are working on developing a highly innovative, scalable AI technology for waste management. To fund the final launch, they bypass banks and approach a group of wealthy individuals who agree to invest their personal funds in exchange for a 15% stake in the company. Because their technology is unique, they want to ensure no one copies it, so they apply for a specific IPR for their AI algorithm.
10. Answer the following:(a) Does 'EcoTech' legally qualify as a 'Startup' under the Startup India scheme? Give three reasons matching the criteria.
(b) Identify and explain the **Funding Method** (wealthy individuals) used by EcoTech.
(c) Identify the specific **Intellectual Property Right (IPR)** they applied for to protect their AI algorithm.
📄 PRACTICE PAPER - SET 10 (Level: Ultimate Board Challenger)
SECTION A (1 Mark Each)
1. The MSMED Act was fundamentally revised in the year 2020. What was the major change in the classification criteria?
[Case-Based] A person discovers a cheaper way to produce solar panels, writes a detailed business plan, takes the financial risk of building a prototype, and starts a company.
2. This individual is exhibiting the characteristics of:3. Assertion (A): Small businesses suffer from technological obsolescence.
Reason (R): Because of poor financial capacity, small businesses cannot afford to upgrade their machinery or invest in R&D, forcing them to use outdated methods of production.
Reason (R): Because of poor financial capacity, small businesses cannot afford to upgrade their machinery or invest in R&D, forcing them to use outdated methods of production.
4. Assertion (A): Bootstrapping allows the founder to retain 100% control of the startup.
Reason (R): Since the founder relies entirely on personal savings and early revenues, they do not have to give away equity (ownership shares) to external investors.
Reason (R): Since the founder relies entirely on personal savings and early revenues, they do not have to give away equity (ownership shares) to external investors.
5. Which of the following protects products like 'Kashmiri Saffron' or 'Mysore Silk'?
SECTION B (3 Marks Each)
6. "Small businesses act as a seedbed for large industries." Explain this statement.
[Case-Based] A rural entrepreneur wants to set up a small matchbox factory. He needs an administrative clearance, a feasibility report, and guidance on local bank credit.
7. Which government agency provides all these services under one roof at the district level? State two more of its functions.
SECTION C (4 Marks Each)
8. Define 'Micro', 'Small', and 'Medium' enterprises under the MSMED Act criteria.
9. "A Patent has three basic criteria: Novelty, Non-obviousness, and Industrial Application." Explain these three criteria briefly.
SECTION D (6 Marks Each)
[Case-Based] Mr. Das had an innovative idea for a biodegradable plastic alternative. Being an entrepreneur, he knew he had to follow a process. First, he evaluated the idea to see if it was scientifically possible and commercially viable. Second, he drafted a comprehensive 'Business Plan'. Third, to fund the project initially, he didn't go to investors; he used his own savings and convinced his family to lend him money (Funding Stage 1). As the business grew (Investment: ₹8 Crores, Turnover: ₹40 Crores), he registered his unique logo "BioPlast" legally so no one could misuse it. Finally, he approached the NSIC to lease heavy machinery because commercial banks demanded heavy collateral.
10. By quoting lines from the paragraph, answer the following:(a) Identify the **first two steps** of the Entrepreneurship Development process performed by Mr. Das.
(b) Identify the **Initial Funding Method** and the **specific IPR** secured by him.
(c) Classify his enterprise strictly according to the **MSMED Act limits**.
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