Barriers and potential solutions for MSMEs in developing economies: Evidence from India

Micro, small and medium enterprises (MSMEs) have emerged as an accelerator of economic growth with a sizeable contribution in job creation, innovation development, and reduction of regional disparities in most world economies. This paper investigates the influence of external and internal factors af...

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Autores principales:	Bishwajeet Prakash, Indrajit Kumar, Jainendra Kumar Verma
Formato:	article
Lenguaje:	EN
Publicado:	LLC "CPC "Business Perspectives" 2021
Materias:	barriers approach Bihar effective solutions entrepreneurship external and internal factors infrastructure Business HF5001-6182
Acceso en línea:	https://doaj.org/article/08e43df4e619402a981d195dfeb4f9e7
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id	oai:doaj.org-article:08e43df4e619402a981d195dfeb4f9e7
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spelling	oai:doaj.org-article:08e43df4e619402a981d195dfeb4f9e72021-12-02T08:40:53ZBarriers and potential solutions for MSMEs in developing economies: Evidence from India10.21511/ppm.19(4).2021.261727-70511810-5467https://doaj.org/article/08e43df4e619402a981d195dfeb4f9e72021-12-01T00:00:00Zhttps://www.businessperspectives.org/images/pdf/applications/publishing/templates/article/assets/15875/PPM_2021_04_Prakash.pdfhttps://doaj.org/toc/1727-7051https://doaj.org/toc/1810-5467Micro, small and medium enterprises (MSMEs) have emerged as an accelerator of economic growth with a sizeable contribution in job creation, innovation development, and reduction of regional disparities in most world economies. This paper investigates the influence of external and internal factors affecting the growth of MSMEs in poor-performing Bihar state, India. The objective of the study is to identify the major deep-rooted causes for the inability of MSMEs to compete in developing states and identify potential solutions. The study is based on an empirical database; it tested various dimensions of MSMEs barriers in their potential growth. The target group included MSMEs of Bihar state, India, using a sample of 450 entrepreneurs. The paper adopted a multistage stage sampling and multivariate analysis technique. The results showed that there are twelve major potential barriers, both endogenous and exogenous, faced by MSMEs, such as availability of raw materials, financial issues, labor force challenges, technology inefficiency, power/electricity scarcity, poor marketing, competition, knowledge-related challenges, government and administration problems, infrastructure inefficiency, etc. The findings show that these barriers affect the promotion and growth of MSMEs in developing regions. In future, it is suggested to focus on the implementation of good governance that helps to remove effectively the major barriers of MSMEs in underdeveloped states, such as Bihar, India.Bishwajeet PrakashIndrajit KumarJainendra Kumar VermaLLC "CPC "Business Perspectives"articlebarriers approachBihareffective solutionsentrepreneurshipexternal and internal factorsinfrastructureBusinessHF5001-6182ENProblems and Perspectives in Management, Vol 19, Iss 4, Pp 325-337 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	barriers approach Bihar effective solutions entrepreneurship external and internal factors infrastructure Business HF5001-6182
spellingShingle	barriers approach Bihar effective solutions entrepreneurship external and internal factors infrastructure Business HF5001-6182 Bishwajeet Prakash Indrajit Kumar Jainendra Kumar Verma Barriers and potential solutions for MSMEs in developing economies: Evidence from India
description	Micro, small and medium enterprises (MSMEs) have emerged as an accelerator of economic growth with a sizeable contribution in job creation, innovation development, and reduction of regional disparities in most world economies. This paper investigates the influence of external and internal factors affecting the growth of MSMEs in poor-performing Bihar state, India. The objective of the study is to identify the major deep-rooted causes for the inability of MSMEs to compete in developing states and identify potential solutions. The study is based on an empirical database; it tested various dimensions of MSMEs barriers in their potential growth. The target group included MSMEs of Bihar state, India, using a sample of 450 entrepreneurs. The paper adopted a multistage stage sampling and multivariate analysis technique. The results showed that there are twelve major potential barriers, both endogenous and exogenous, faced by MSMEs, such as availability of raw materials, financial issues, labor force challenges, technology inefficiency, power/electricity scarcity, poor marketing, competition, knowledge-related challenges, government and administration problems, infrastructure inefficiency, etc. The findings show that these barriers affect the promotion and growth of MSMEs in developing regions. In future, it is suggested to focus on the implementation of good governance that helps to remove effectively the major barriers of MSMEs in underdeveloped states, such as Bihar, India.
format	article
author	Bishwajeet Prakash Indrajit Kumar Jainendra Kumar Verma
author_facet	Bishwajeet Prakash Indrajit Kumar Jainendra Kumar Verma
author_sort	Bishwajeet Prakash
title	Barriers and potential solutions for MSMEs in developing economies: Evidence from India
title_short	Barriers and potential solutions for MSMEs in developing economies: Evidence from India
title_full	Barriers and potential solutions for MSMEs in developing economies: Evidence from India
title_fullStr	Barriers and potential solutions for MSMEs in developing economies: Evidence from India
title_full_unstemmed	Barriers and potential solutions for MSMEs in developing economies: Evidence from India
title_sort	barriers and potential solutions for msmes in developing economies: evidence from india
publisher	LLC "CPC "Business Perspectives"
publishDate	2021
url	https://doaj.org/article/08e43df4e619402a981d195dfeb4f9e7
work_keys_str_mv	AT bishwajeetprakash barriersandpotentialsolutionsformsmesindevelopingeconomiesevidencefromindia AT indrajitkumar barriersandpotentialsolutionsformsmesindevelopingeconomiesevidencefromindia AT jainendrakumarverma barriersandpotentialsolutionsformsmesindevelopingeconomiesevidencefromindia
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Barriers and potential solutions for MSMEs in developing economies: Evidence from India

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