Nine out of 10 MSMEs expect
to make profits this year, says report
Nine out of 10 micro, small and medium
enterprises (MSMEs) expect to book profits during the ongoing calendar year on
the back of strong consumer demand and ease of doing business, according to a
report by NeoGrowth.
MSMEs also said they have benefited from
government schemes.
The report added that 60 per cent of the
MSMEs met their business targets last year.
Across all the sectors, six out of ten
businesses anticipate the need for credit in 2024. The wholesale or trading
services sector expects the highest demand for loans.
Meanwhile, the report noted that 44 per
cent of MSMEs may hire more employees, while 18 per cent may cut
headcount.
NeoGrowth surveyed 3,000 business owners
across 25 cities.
India's small businesses will continue
to take centre-stage, and we are thrilled to be part of their journey, said
Arun Nayyar, MD and CEO, NeoGrowth.
www.business-standard.com
dt. 24.04.2024