MSME stands for Micro, Small and Medium Enterprises. These industries or enterprises form the backbone of our economy and need assistance and protection from other big companies as they lack resources and technology. To do this the government provides some schemes, rebates or counselling to these enterprises.
The Ministry of Micro, Small and Medium Enterprises is the ministry in the Government of India. It is the apex executive body for the formulation and administration of rules, regulations and laws relating to micro, small and medium enterprises in India. MSMEs have done great traditionally but at the current times, most young MSMEs are failing to drive growth. Let us know why –
10 Reasons Why Most Young MSMEs Fail To Drive Growth
- Ineffective Marketing
- Ineffective PR
- Inexperienced Planning
- Lack of Working Capital
- Insufficient Working Capital
- Too much reliance on outsourcing
- Unable to face the competition
- Failure to track goals and finances
- Lack of USP
- Too much expectations followed by a reality check
Are you a MSME founder or plan to register your business under MSME?
For best marketing and PR in India, mail to digitalgolgappa@gmail.com.
