4 min read.Updated: 22 Jun 2021, 05:35 AM ISTV. Anantha Nageswaran,Ramesh Dharmaji
Much can be done on several fronts to relieve small businesses of their problem of payment delays
The world over, micro, small and medium (MSME) enterprises are the backbone of a healthily balanced economy. They supply an innumerable number of components, intermediate goods and services at competitive prices to large original equipment manufacturers and industry majors. Yet, delayed payments for their goods and services result in large portions of working capital being blocked, which, coupled with often-inadequate credit at reasonable cost, leaves many financially unviable and unable to plan for growth. The second wave of covid and its associated lockdowns have again aggravated their situation. The government has announced emergency credit support measures and temporarily relaxed several compliance requirements. But, this may also be a good time to fundamentally alter the availability of funds for MSMEs and their access to the same.
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