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18/04/2022 05:33pm

Nearly 70% MSMEs on book keeping app Khatabook expect better business growth this year: Survey

image Nearly 70% MSMEs on book keeping app Khatabook expect better business growth this year: Survey

New Delhi, April 18 (KNN) As much as 68 per cent of 15,942 micro, small and medium enterprises (MSMEs) on the digital book keeping platform Khatabook are optimistic about business growth in 2022, said a Business Sentiment survey conducted by the company to gauge MSMEs’ growth during H2 2021 and expectations in the current year. 

H2 means the second half of the financial year.

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The survey also noted weak demand, financial liquidity, and credit availability among major challenges for 46 per cent of respondents while 36 percent said their business was stagnant and 23 percent reported a decline in their business during the second half of 2021.

However, 41 per cent of MSME owners saw growth in their business and about 54 per cent said they did not face any significant issues during the period. The states where more businesses thrived were Andhra Pradesh, Gujarat, Maharashtra, Rajasthan, and Madhya Pradesh. Additionally, manufacturers and retailers were most impacted during this period while wholesalers prevailed.

SIDBI had also conducted a survey in January this year among a random sample pool of 1,029 MSMEs. 

According to the survey, 67 per cent respondents had reported temporary closure for up to a three-month period during FY21 while around 66 per cent units had claimed a decline in profitability on account of stable fixed costs and a decline in revenue. The survey results were shared by the MSME Minister Narayan Rane in Lok Sabha in February. (KNN Bureau)

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