Industrial sickness in Micro Small and Medium Enterprises in Bihar India

Abstract

The research entitled Industrial sickness in Micro, Small and Medium newlineEnterprises (MSMEs) in Bihar, Indiaand#8223; is an empirical study for various dimensions of newlineindustrial sickness in the state Bihar. The study investigates the magnitude of the newlinefinancial distress among the MSMEs in the state, as well find out the major causes for newlinethe industrial sickness in MSMEs. The study has also included the significant remedial newlinemeasure as revival for the sick enterprises in the state. MSMEs played a significant role newlinein creation of new jobs, help in increasing Gross Domestic Product (GDP), newlineentrepreneurship, and innovation; this sector emerged as vibrant key drivers for the newlineIndian economy. In India, MSMEs contribute 40% in total GDP and provide second newlinelargest employment after agriculture. MSMEs faces huge number of challenges and newlineproblems, which lead to a business, became sick or failure in due course. newlineIndustrial sickness is universal phenomena and spread in all type of industries all newlineover the world. It adversely affects the health of industrial sector as well economy. This newlinestudy covers the problems, causes, and prediction of industrial sickness among the newlinevarious Micro small and medium industries in Bihar. The study is based on the newlineperception of entrepreneurs and financial statement of the enterprises. Major objectives newlineof this research are to study the growth and performance of MSMEs in Bihar, problems newlinefaced by entrepreneurs at all the stages of units, source of funding, causes of industrial newlinesickness include internal and external factors responsible for sickness, predict the newlinev newlineindustrial sickness in industries, remedial measure to fostering entrepreneurs, and newlinesuggest suitable policies to reduce the effect of industrial sickness in the economy. newlineThe study is based on primary and secondary database. In primary data of 450 newlineenterprises has been collected from 9 representative districts of Bihar, with including of newlineall types of forms (Sole Proprietorship, Partnership, Private Limited Companies etc) and newlinekinds (Services, Manufacturing) of bus