PROBLEMS AND PROSPECTS OF MICRO, SMALL, AND MEDIUM ENTERPRISES (MSME’S) IN ANDHRA PRADESH: AN EMPIRICAL STUDY OF VIZIANAGARAM, EAST GODAVARI AND CHITTOR DISTRICTS.

Abstract

The Micro, Small, and Medium Enterprises (MSMEs) sector plays a vital role in the economic development of Andhra Pradesh. This paper provides an overview of the key challenges and opportunities MSMEs face in select districts of Andhra Pradesh. It highlights the current state of the sector, the hurdles that hinder its growth, and the potential avenues for future development. The problems encountered by MSMEs in Andhra Pradesh are multifaceted. Challenges range from inadequate access to credit and financial resources to bureaucratic red tape, infrastructure deficits, and technology limitations. These factors often impede the sector's growth, inhibiting its ability to create jobs, contribute to GDP, and foster innovation. Despite these challenges, there are promising prospects for the MSME sector in Andhra Pradesh. Government initiatives such as "Ease of Doing Business" reforms, Make in India, and Digital India can potentially improve the business environment for MSMEs. Furthermore, the state's strategic geographical location and the availability of a skilled workforce offer unique opportunities for growth and expansion. Partnerships with established industries, clusters, and technology hubs can aid in addressing some of the sector's technology and infrastructure constraints. The researcher employed descriptive statistics like mean, SD and for hypothesis testing t-test, ANOVA and chi square test to find the statistical significance of the study.

Keywords: MSMEs, Growth, Finance Related Problems, and Marketing Problems.