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Kochi-based development institute to extend advisory services to MSMEs

Updated: May 28, 2020 09:23:01am

Kochi-based development institute to extend advisory services to MSMEs

Kochi, May 28 (KNN) In bid to suggests better measures to the COVID-19 hit Micro Small and Medium Enterprises (MSMEs) in the state, the Institute of Small Enterprises and Development (ISED) has come out with a unique platform called 'business clinic' for extending advisory services.

The state-based ISED's experts will offer free guidance to entrepreneurs to make a self-evaluation for improving their performance.

The institute will guide MSMEs and entrepreneurial aspirants on issues like returning migrants, start-ups, educated unemployed, and women entrepreneurs.

While speaking about the pandemic, ISED director, P M Mathew asserted that COVID-19 pandemic has affected the capital and operations of most SMEs, globally.

"Post-lockdown, the operational problems are likely to get aggravated. Beyond the broad macro level projections and debates, it is now time to act at the grassroots level. Many entrepreneurs need appropriate clinical assessment, and moral and psychological support, said Mathew.

The unprecedent lockdown has created havoc across India and has brought businesses to a standstill, especially MSMEs who are almost on the verge of closure, if COVID-19 pandemic lasts longer.

Putting MSMEs at halt through lockdown will impact India’s GDP growth for FY21 and is expected to sharply decline than what was estimated earlier.

In the last month April, Dun & Bradstreet's latest report had claimed that MSMEs would be severely impacted and could take over 12 months to recover due the disruptions caused by the pandemic.

The D&B in its report had also said that the impact on MSMEs will be severe and will accompany small business for a longer time.


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