Publication Date: 2024/03/06
Abstract: This study investigates the key barriers hindering the prospects of Micro, Small, and Medium Enterprises (MSMEs) in Andhra Pradesh, with a focus on empirical evidence from East Godavari district. Through a comprehensive analysis of primary data collected from MSMEs in the region, this research identifies and examines the critical challenges faced by small businesses, shedding light on the intricate dynamics of the local entrepreneurial ecosystem. The findings reveal a multitude of barriers constraining MSME growth and development, including limited access to finance, bureaucratic hurdles, infrastructure deficiencies, market access constraints, and skill shortages. These barriers collectively impede MSME competitiveness, innovation, and sustainability, posing significant challenges to the economic vitality and resilience of the region. The study underscores the urgency of targeted policy interventions, institutional reforms, and support mechanisms aimed at addressing these barriers and fostering an enabling environment conducive to MSME growth and prosperity in Andhra Pradesh. By bridging the gap between empirical evidence and policy action, this research contributes valuable insights to the discourse on MSME development and lays the groundwork for evidence-based policy formulation and implementation to unleash the full potential of the MSME sector in the region.
Keywords: Access to Finance, Regulatory Hurdles, Market Access, Skill Shortages, and MSMEs.
DOI: https://doi.org/10.5281/zenodo.10785515
PDF: https://ijirst.demo4.arinfotech.co/assets/upload/files/IJISRT24MAR044.pdf
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