MSMEs in Bengaluru, Pune confident to make profits this year, Mumbai least optimistic: Report
Small enterprises big on new firm registrations Additionally, 75% of Wholesale and Trader segment MSMEs remained bullish on consumer demand in the current calendar year. Among the Indian cities, Delhi appeared most optimistic where 87% of the surveyed MSMEs anticipated a surge in consumer spending. The survey analysed responses from nearly 3,000 MSMEs from more than 25 cities in India.
Capital allocation that reaches deserving MSMEs will result in inclusive growth Over 40% of MSMEs across India experienced a major boost in 2023. Three in five MSMEs mentioned that they have met their 2023 business targets. Interestingly, 80% of women-led MSMEs achieved their business targets set for 2023, the survey revealed.
How price wars hurt account aggregators "Similar to 2023, MSMEs have continued to radiate optimism in India’s business environment. From steady growth in profits to expansion plans, their confidence portrays a vibrant picture of prospects for the country’s economic growth in 2024," Arun Nayyar, Managing Director and CEO of NeoGrowth said. The MSMEs have also anticipated strong credit growth this year.
NeoGrowth survey showed that nearly 60% of businesses across all sectors expected the need for credit in 2024. The Wholesale/Trading and Services sectors anticipate the highest demand, with 64% of businesses seeking credit to boost their operations. Notably, the appetite for loans was strongest in metropolitan hubs such as Bangalore (88%), Pune (87%), and Delhi (84%).
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