An Empirical Study of Factors which Affect the Growth and Development of MSMEs in India
Keywords:
Entrepreneurship, skills, Technology up-gradation, Product diversification, Quality control, Competitive MarketingAbstract
Micro, Small and Medium Enterprises (MSMEs) are recognized to be the backbone of any growing economy. It is not exceptional to India; it has the necessity to consider MSMEs for its growth and development. The main objective of this study is to find out the factor influencing the growth and development of MSMEs in India. Hence this paper used the survey (questionnaire) method for the purpose of obtaining extensive industrial and geographical coverage. The questionnaire was developed and sent to 300 participants. The sample was chosen through simple random technique from probability sampling technique. Later, descriptive and inferential statistics were carried out. The findings of the study revealed that entrepreneurship skills, technology up-gradation, product diversification, quality control, and competitive marketing are the major factors that affect the growth and development of the MSMEs.
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