Suitable Mechanism for Revival of Sick MSMEs
Published: 2017
Author(s) Name: Sadiqua Tabassum, Mohd Fasi |
Author(s) Affiliation: Assistant Professor, The Crescents College of Business Management, Warangal, Telangana, India
Locked
Subscribed
Available for All
Abstract
In pursuit to create a vibrant MSME sector, Ministry of MSME, Government of India has taken multi-pronged strategy. The focus is not only on the issues related to starting and growth of MSMEs but ensuring that they sustain their business. However, due to various reasons, MSMEs are prone to sickness. There has been an increase in MSME sickness. There have been internal causes relating to planning, implementation & production and external causes like infrastructural bottlenecks, finance constraints, marketing constraints, and other extraneous factors. Industrial sickness affects not only the owners, employees and creditors but also causes wastage of national resources and social unrest. There have been a few attempts to address this issue. However, the need to devise more robust mechanism for dealing with sick MSME units was felt so as to make suitable arrangements for detecting symptoms of industrial sickness at an early stage and take corrective actions to prevent sickness.
Keywords: MSMEs, Industrial Sickness, Mechanism
View PDF