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The decline in demand and rise in uncooked materials costs because of excessive transportation prices are the foremost issues confronted by micro, small and medium enterprises within the final 27 months, in keeping with a survey.
The report by Bhartiya Yuva Shakti Belief (BYST) additionally mentioned that although markets have stabilised, about 57 per cent of the items that participated within the survey are struggling to get new orders for his or her merchandise.
“Lesser buying energy of shoppers result in decreased demand and elevated uncooked materials price because of greater transportation price with improve in gasoline costs have been cited amongst key issues confronted by entrepreneurs over the past 27 months,” Lakshmi Venkataraman Venkatesan, Founding and Managing Trustee, BYST, mentioned.
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Over 5,600 Micro, small and medium enterprises (MSMEs) participated within the survey.
Whereas the impression of COVID-19 has been slowly receding, the financial state of affairs is but to fully stabilise because of a number of components, in keeping with the report.
About 27 per cent of the entrepreneurs have mentioned that they’re discovering it tough to repay their mortgage instalments on time, it added.
As per the report, 53 per cent of MSMEs acknowledged that they’re doing higher in some elements compared to the pre-pandemic section.
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