Friday, September 14, 2012

Abridged White Paper by SME WORLD Powering the “ENGINE” of Growth

Executive Summary
The micro, small and medium enterprises sector in India is dominant in employment generation due to its sheer number of units and establishments though suffering from lower productivity and sometimes insolvency owing to unfriendly business environment.

Globally, this sector has strong dominance in creating internal resilience of an economy and its growth. In developed countries, it is the SMEs which are more competitive and versatile. Due to their size and scale of operations, it is easier for them to react to subtle changes in the environment but everywhere there are pressing challenges. One might attribute it to opening of the economies and free trade and movement of goods and services amongst nations.

Indian MSMEs suffer from specific key issues that can be broadly classified as finance, human resource, infrastructure, legal and regulatory compliance, customers and rehabilitation or exit in times of collapse or crumbling under hostile situations either created internally or pressed upon externally. But problems are everywhere and cannot be the reason for non-performance or decline of the sector. SME WORLD shares few suggestions to enhance the force of this sector.

Click here to read the complete article SMEWORLD Sep 2012

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