Problems and Issues of Micro Small & Medium Enterprises (MSMEs) in Krishna District of Andhra Pradesh

Abstract

Small and medium-sized enterprises are recognized as the engine and barometer of economic growth, accounting for more than 90% of the total in most economies and a large proportion of industrial production and exports. From an Indian perspective, they also act as a catalyst for growth, a pillar of economic prosperity, an innovation incubator, a nursery for entrepreneurs, and a barometer of economic success and prosperity.

The problems of SMEs includes i) Financing Issues, ii) Availability of Raw material, iii) Lack or inadequate infrastructure, iv) Outdated Technology, v) Underutilized capacity, vi) Unskilled labour, vii) Location problems, viii) Issues related to sales and marketing ix) Poor in Project Planning (PPP) and x) Problems with ancillary industries. The thunders like De-monetisation, Implementation of GST, Changes in government policies, Continuous changes in Technology, increased competition locally and globally, amidst COVID 19, rippled performance of SMEs around the globe and in India also. Hence, an attempt has been made to address problems and issues of SMEs in all dimensions and tried to assign ranks to all of those based on their impact and intricacy on performance of SMEs.