MSMEs bounce back stronger post-Covid

Kolkata: Fintech lender NeoGrowth on Tuesday said the MSME sector has emerged 'stronger' during the last two years since onset of the Covid-19 pandemic, leveraging the digital payments ecosystem.

In its survey, 'MSME Insight Report 2022', the non-banking finance company said the small and medium enterprises have been able to 'bounce back stronger' with timely support. The report is based on a comprehensive assessment of over 40,000 MSMEs from 25 cities across 88 industries analysed by the company from March 2020 to March 2022.

The survey, covering MSMEs in both discretionary and non-discretionary demand-oriented businesses, examined the "challenges they encountered during the pandemic, the impact of support measures on their recovery, the shift to digital means of doing business, and their resilience in the two years".