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- SMEs are the backbone of the Indian economy–They are the largest employment generators and a huge foreign exchange earning sector.
- Presently, not all SMEs are equipped to handle the challenges of liberalization and WTO.
- They are largely, family owned businesses and hence have a narrow focus.
- Small and Medium businesses are more focused on day-to-day problem solving/fire fighting
- No platform to share common problems and successes.
- Greater use of low-level technology in their units providing scope for improving productivity and product quality.
- Little know how of latest technology.
- Little knowledge of latest techniques and benchmarks on productivity and quality.
- Limited access to skilled manpower.
- Limited use of Information Communication Technology.
- High cost of consultants in the field inspite of little knowledge on availability of such consultants.
- Reluctance of consultants to work with SMEs, due to lower returns in comparison to working with large companies who already have well developed infrastructure and well trained manpower.
- Poor capital investment capabilities of SMEs.
- Non-availability of an umbrella body to bring together the SMEs and provide them with handholding support and service.
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