What are the main challenges faced by small and medium enterprises in Kerala? Why does the MSME sector here lag behind that of other states despite the implementation of many business-friendly policies?
Kerala is a land with many peculiarities. Because of their high education and literacy, people with great talent come here to work. But it goes without saying that their migration to other countries is a big problem that Kerala is facing today.
Another fact that sets Kerala apart from other states in India is its unique consumer culture. Malayalis are familiar with the best quality products in the world, due to their ties with the Gulf countries. People here expect the best products at the lowest cost. This is a major challenge for businesses in Kerala as they have to come up with different ideas to meet the expectations of consumers and ensure that they get the best value. It is through this that success in the market and customer loyalty can be achieved. This is both the challenge and the opportunity for enterprises here.
Major problems faced by MSMEs
Although Kerala has some business-friendly policies, more effective changes are needed here to create a supportive environment for small enterprises. The policies implemented by Karnataka and Telangana to ensure the growth and development of businesses have received much attention. Kerala is far behind them. The methods adopted by these states would be beneficial if modified to suit the unique economic conditions of Kerala. With a strong and capable administrative leadership, Kerala can definitely improve the MSME sector.
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