Problem and Prospects in Micro, Small and Medium Enterprises (MSME) - A Study in Salem District, Tamil Nadu

Abstract

It is a well-known fact that the core engine for boosting the Nation's Economy is revenue through micro, small and medium enterprises (MSME), but this is not consistent in all areas of the nation, and the reason is due to the problem being faced through various channels like labour, raw material and the marketing. Of all, financial assistance is found to be the core problem for the MSME's. This study aimed to study the challenges in MSME, particularly in the Salem District, Tamil Nadu, and the various features of overcoming these challenges. For this purpose, 450 owners of the organizations working under the Ministry of Micro, Small and Medium Enterprises were selected through a simple random sampling technique. The outcome emphasized that there is a significant association existed among the challenges with the growth of the MSME organization except the Human resource challenges, and it is also seen that the challenges in the raw material and general problem were highlighted as significant predictors for the MSME growth in Salem District, Tamil Nadu. It is also suggested that MSME entrepreneurs adequately utilize government training programmes to enhance their knowledge and skills and overcome challenges in the sector.