WHY MSME FAILS OR NOT GROWING [ Why SMALL Businesses Fail]

 Hello friends, welcome to our blog website, in today's article, we are going to talk about Why SMALL Businesses Fail and why these small entrepreneurs are not able to grow their business, in today's post we are going to tell you 7 such areas from which Instead of growing the business goes to ruin, let's start

Micro and small medium enterprises are the backbone of any country's economic growth . In India MSME sector is nursery of start ups and entrepreneurship. It contribute 8% in GDP, 40% in exports, 40%+ share in manufacturing and 2nd largest in employment generation etc. Govt understood well that to achieve 5 trillion economy goal MSME growth is must.

To ensure MSME Growth, it is important to understand Why MSME fails or not growing?

 Why Small Businesses Fail Some Of The Reasons Could Be:

1.Inadequate capital support.

2. Most of the government schemes are announced for organised MSME while 95% of MSMEs are unorganised and hence they are not eligible for those schemes or the scheme benefits could not reach them due to lack of awareness.

3. Poor knowledge of risk management & business planning

4. Casual behaviour towards financial discipline and inadequate or non maintenance of books of accounts .

5. Still believes in buying cheap or refurbished technology.

6. Averse to hire professionals and delegation of powers.

7. Poor or No proper data availability.

To accelerate the MSME growth, India needs to bring Informal micro enterprises into formal segment at a fast pace.

Conclusion

Friends, in this post, we told you about Why SMALL Businesses Fail, if you like this post, then definitely share it and if you have any questions or suggestion, definitely tell us by commenting.

Due to business failure, share this post with your friends on the social site and also tell the business people so that they do not let such mistakes happen in the future.