Problems Faced by Micro, Small, and Medium Enterprises: A Review.

Mahender; Gora, Kapil; Dahiya, Jagdeep

Micro, Small, and Medium Enterprises (MSMEs) are the backbone of both advanced and emerging countries due to their vast contributions to employment creation, trade facilitation, production and development, sales expansion, and elimination of regional imbalances. MSMEs account for the great majority of enterprises in almost all major countries worldwide. They are not able to contribute well to economic growth due to several challenges that impede their performance, including financial problems, lack of knowledge, and poor financial management. The main objective of this study is to explore the problems faced by entrepreneurs and examine their impact on the performance of MSMEs. The findings show that one of the significant issues MSMEs face is financial constraint.

JOB creation; BUSINESS enterprises; SMALL business; FINANCIAL management; ECONOMIC expansion

IUP Journal of Entrepreneurship Development, 2022, Vol 19, Issue 1, p39

Academic Journal