The MSME sector has enormous potential for growth in the coming years while eradicating poverty & unemployment.
While most of the talk is about creating a positive external environment for their growth and facilitating easier financing, there are serious internal issues that need to be addressed as well.
SME MaXX has compiled the top 7 issues, that keep MSMEs small and hamper productivity. What do you think about these? Feel free to comment and add to the list from your experience.
1. Outdated, inefficient methods of operating business
2. Inertia to adopt technology
3. Mindset Issues
4. Lack of proper accounts
5. Dealings in cash
6. Conservative lifestyle
7. Lack of Computer literacy