Issues and Problems in the Growth of Micro, Small and Medium Enterprises in Goa: An Empirical Study

The MSMEs are considered the engine of economic growth and development as it generates large employment at low capital cost. Major issues concerning MSMEs in Goa is that it generally abstain from filing Entrepreneurs Memorandum PartII/PMT Registration on the simple pretext that the registration under the MSMED Act is not mandatory and moreover on the grounds that some of the authorizing does not demand for the same except for availing incentives under the schemes. The general estimation is that this ratio could be around 5: 1 which could be derived on the basis of 3237 E. M PartI issued and 251 units have only filed Entrepreneurs Memorandum PartII under MSMED Act, 2006. It is also noted that many of the registered units shutdown their business on varied grounds. As the owners do not seek de-registration, the circumstances of closure remains unspecified in the records of DITC and the figures of permanent registered units continues unaltered in the register.