MSMEs in trouble as Covid waves hit them hard
Surveys say more than half of the existing start-ups/small companies may be shut down or sell off their units by the year-end
The Medium, Small and Micro Enterprises (MSME) sector has been going through a tough phase in view of the Covid19 pandemic’s repeated assaults on them.
According to a local survey, more than half of the existing start-ups/small companies may be shut down or sold off by the year-end due to the harsh ground situations. The situation is grim across Andhra Pradesh and more so in Chittoor district, where nearly half of the registered and unregistered start-ups and MSMEs are in a mood to scale down production, shut down their units or sell them away.