ABSTRACT
In the current scenario of business, the micro, small, and medium enterprises have been accepted as the engine of growth for promoting equitable development and sustainable growth. The MSME plays a vital role in the generation of employment opportunities, the dispersal of industries, and the creation of job opportunities. Micro, Small, and Medium Enterprises (MSME) sectors have also been playing an indispensable role in the overall development of the economy of a country. The objective of the study is to study the type of problems faced by MSMEs and the scope of economic growth among people who are unemployed and facing the problems of poverty. This has been considered as the dynamic and vibrant sector of the Indian economy as it provides a wide area of employment opportunities to rural and urban coverage. This is an attempt to highlight the growth of the sector and the various problems or challenges faced by the MSME sector. It plays a dominant role in establishing a wide variety of employment opportunities at a comparatively lower capital cost but also helped in the industrialization of rural and backward areas by reducing regional imbalances and assuring a more equitable distribution of wealth and national Income. It analyzes the definition and challenges faced by MSMEs. This study focused on the collection of data from different sectors and various enterprises. It is suggested that the Government should encourage MSMEs by providing financial as well as technological support. It reviews the progress of the MSME sector and solves its problems in propelling the economic growth.
Keywords: MSMEs, Problems, Economic Growth.
Received : 01st January 2020
Accepted : 15th January 2020
Published : 15 th February 2020