09 December 2019

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The Way Forward to MSMEs for Prosperity...

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From the Editor's Desk

G K Pramod ,a first generation entrepreneur, author of 'The Second Gear', and Expert in MSME Oriented Pilot Programmes shares his views with Krishnakumar C K, Editor, Small Enterprise India.com, on the way forward to MSMEs towards a path of more strong and stable mode of sustainability in overall MSME eco system.

“My opinion is that extensive fund allocation should be mobilised towards SME oriented programmes such as Prime Minister's Employment Generation Programme (PMEGP) where SMEs can avail collateral free loan up to 25 lakhs. Also there is a need for more awareness campaigns to make SMEs understand thoroughly the PMEGP”.’Opines GK.

GK also feels that a multi pronged approach is the need of the hour to leverage the SME growth in this country. The government measures to sustain the growth of MSMEs in the country will bear the intended results if only there is a collective effort from the part of the government, MSME governing bodies and the MSME fraternity.

“To create an ecosystem where MSMEs can make use of their fullest potentials, there should be proper planning and understanding of the real problems that MSMEs  face today, and a fool proof solution to address these concerns” adds GK.

 According to GK, to fast track the growth of MSMEs, the following pre requisites are a must:

1. Transparent Finance system: The finance system which includes all aspects of financing to MSMEs should be made transparent with strict and proper guidelines.  Awareness programmes are a must to make financing options to MSMEs easily accessible.

2. MSME Zones: Like SEZs, there should be specific Zones for the MSMEs. In India, large parks (Tech parks, Industrial parks etc) are meant for larger companies with huge capital. MSMEs cannot afford to have operational base in these types of parks due to various reasons.  So if MSME zones can be set up with private public partnerships, with proper infrastructure,         these can be a boon for MSMEs. A provision has to be made, that would help the MSMEs avail these facilities without any financial burden.

3. Marketing Networks: Another major challenge for the MSMEs is marketing. To overcome this a proper marketing eco system has to be set up where in MSMEs can address all their marketing woes.

4. Proper mentoring programmes for the MSMEs: MSMEs need to be properly mentored. There are lots of areas where MSMEs lack clear cut vision. Proper guidance has to be provided to the MSMEs in identifying suitable markets for their business venture.

5. Awareness programmes: The MSMEs have to made aware of various business opportunities available locally. Plenty of business opportunities can be identified locally for the MSMEs. This will help them make use of the resources available locally and also tap the human talent available locally.

6. Courses for Micro Entrepreneurship: Proper courses of short term durations on Micro Entrepreneurship will enable the MSMEs to identify and understand multiple aspects of entrepreneurship, and business strategies.

 

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