What are the advantages of cottage industry?

Answer 1

Eventhough in the present fully industrialized and globalized world, mostly charecterised by the competition of marketing, one may wonder regarding any advantage of a cottage industry. But in short, i shall brief some merits and advantages of such cottage industries:

1. The reason for the growth of cottage industries in the 18th Century before the industrial revolution still remains - people having no farm or agricultural land. Such people can involve in cottage industries even now and find their livelihood in an easily manner if the authorities take care of the supply of raw materials and the marketing of finished products.

2. The cottage industries do not require large capitals to start and the maintainance of such system is also low cost. Most of the works are done by the family members by hand and the production cost also would be less; but the volume of production would be very less.

3. The manual skills of elder generations can be utilized; there by reducing the idle manhours of the society.

4. General self sufficiency of the microsocieties can be guaranteed, especially for countries based on village life. For a country like India where most majority of village people cant take part in the result and the merits of Industrial revolution, the small scale cottage industries can be an alternative for big industries and assuring wealth production.

5. The self pride of the village people can be raised and thereby increasing their role in the empowerment of the whole nation.

Answer 2

Eventhough in the present fully industrialized and globalized world, mostly charecterised by the competition of marketing, one may wonder regarding any advantage of a cottage industry. But in short, i shall brief some merits and advantages of such cottage industries:

1. The reason for the growth of cottage industries in the 18th Century before the industrial revolution still remains - people having no farm or agricultural land. Such people can involve in cottage industries even now and find their livelihood in an easily manner if the authorities take care of the supply of raw materials and the marketing of finished products.

2. The cottage industries do not require large capitals to start and the maintainance of such system is also low cost. Most of the works are done by the family members by hand and the production cost also would be less; but the volume of production would be very less.

3. The manual skills of elder generations can be utilized; there by reducing the idle manhours of the society.

4. General self sufficiency of the microsocieties can be guaranteed, especially for countries based on village life. For a country like India where most majority of village people cant take part in the result and the merits of Industrial revolution, the small scale cottage industries can be an alternative for big industries and assuring wealth production.

5. The self pride of the village people can be raised and thereby increasing their role in the empowerment of the whole nation.