Major Challenges Faced by MSMEs
India is an economy that has an equal contribution from the organized and unorganized sectors of the country. The growth of our country relies on the micro, small, and medium businesses that have a significant role in the GDP. These businesses are generating employment and giving an opportunity to the youth of the nation. However, the COVID-19 pandemic has deteriorated the economic conditions of MSMEs. Lack of liquidity in the system has caused a lot of distress in these businesses. Let us see the top challenges that are the face of reality for the MSME sector: Ease of Doing Business Most start-ups in India face a lot of difficulty in getting approval and clearing their legal papers. Several loopholes are preventing young minds from taking the leap of faith and starting their own business. Many entrepreneurs are demotivated to start their businesses due to the difficulty of getting small business loans . From enforcing contracts to getting financial support, Indian start-ups are not