Journal of Applied Management and Business (JAMB)
Vol. 5 No. 2 (2024): Vol.5 No.2, December 2024

Role of Msmes in Stirring The Social Economy at Bengaluru

Balakrishnan, Adhinarayanan (Unknown)
A R Gowda, Ashok (Unknown)



Article Info

Publish Date
27 Dec 2024

Abstract

Micro, Small and Medium Enterprises (MSMEs) in Bangaluru is a critical contributor to the economic escalation and employment generation. This study aims to explore the issues regarding the performance and progress of MSMEs. The study is descriptive in nature, both primary and secondary data collected and appropriate statistical tools employed to draw the inherent facts about MSMEs performance. The study divulged that the MSME sector in Bengaluru faces challenges, such as access to finance, infrastructure constraints, and regulatory compliance. MSMEs rely on traditional banking channels for financing, while few look for NBFIs because of their flexible lending criteria. The future growth and prospects of MSMEs in the services industry are promising, By embracing innovation, collaboration, sustainability, talent development, market differentiation, customer-centricity, agility, resilience, continuous improvement, adoption of emerging technologies, focus on data analytics, expansion into niche markets, and adoption of flexible business models, MSMEs can unlock their full potential and grow. With the right support, resources, and strategies, MSMEs can take advantage of the growing demand for services and emerging opportunities in the digital economy.

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Journal Info

Abbrev

jamb

Publisher

Subject

Humanities Computer Science & IT Economics, Econometrics & Finance Social Sciences Other

Description

Journal of Applied Management and Business (JAMB) is a peer review journal published by Universitas Dinamika. This journal is published in June and December. Journal of Applied Management and Business (JAMB) is a learned journal in the management and marketing for a knowledge society, international ...