If India is to sustain its onward march of 7 percent-8 percent of annual economic growth, the 50-million strong Small and Medium Enterprises (SME) sector has a vital role to play. However, in their quest for growth, SMEs find working capital and timely access to it as serious concerns.
A survey that covered over 500 SMEs across India found that ‘lack of easy finance and credit instruments’ was their most critical challenge. This survey by the Firstbiz and Greyhound Knowledge Group further found that seven out of 10 SMEs were facing major hurdles in accessing credit/capital when they needed it the most.
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Sanchit Vir Gogia: Sanchit is the Chief Futurist, Founder & CEO of Greyhound Knowledge Group, a Global Strategy & Transformation Research, Advisory & Consulting Group. He also serves as Chief Analyst & CEO of Greyhound Research, a Global, Award-Winning, Independent Technology & Innovation Research, Advisory & Consulting firm. To read more about him, click here.
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