Who Is A Street Vendor?
Very often in our daily life, we step out of our home and buy things from vendors on the street. At times we buy meat, fruits, vegetables, flowers or souvenirs as well in case we are out for a trip. Such small stalls are owned by street vendors.
Street vendors usually spread their shops or stores in a relatively small area. And they are more likely to shut them down at the end of the night. Some street vendors use carts to sell their goods as well. They roam from place to place within a particular area and by the end of the day go back home with leftovers and the cart.
What Is The Role Of A Street Vendor?
Street vendors trade items of various categories. Some of them sell merchandise and goods and some sell food supplies such as fruits and vegetables. They are more likely to run their business in the open air than any traditional shop/store.
Like any other worker and seller, street vendors also aim to earn by selling supplies to the people in their locality. The whole selling and buying chain of the street vendors might seem very simple and easy. One might think that there isn’t any cost required for architecture, employees or other bills which makes it very convenient as a small business. But, only a street vendor knows the amount of marketing strategy, patience, capital and other planning is required to scale up their earnings. Besides, they also need a valid license from that particular locality or state.
PM Svanidhi Yojna
The government of India has come up with PM Svanidhi Yojna to help the street vendors. Street vendor loans can be accessed from the PM Svanidhi Yojna scheme. This scheme was launched at the beginning of June 2020 and has helped a lot of sellers get a street vendor loan.
A street vendor needs to get a sales tax permit as well as a tax certificate. They have to get it from the government’s revenue agency. Also, they require a business license from the clerk’s office from the country or city. Besides, they also need to obtain a peddler’s license from the city govt. A street vendor can apply for these anywhere and anytime depending on their locality. Hence, street vendors must make sure to explore and know about the permits in their locality.
While Street vendors usually have a lower earning, to boost their economy PM Svanidhi Yojna can be availed. Street vendor loan of up to Rs 10,000 can be availed in a year. This scheme has been very effective for the small businesspersons. It has helped in scaling up the number of street vendors by helping them with capital and aims to increase the number of sellers in future as well.