Abstract
Access to finance for Micro, Small and Medium Enterprises (MSMEs) continues to be an obstacle in India, impacting their growth and sustainability. This study examines the landscape of MSME financing, focusing on the various funding sources available and the key barriers entrepreneurs face at different stages of their business life cycle. The findings reveal that MSMEs predominantly rely on informal sources, such as personal and family wealth, rather than formal institutions like banks. The major obstacles to accessing formal finance include inadequate collateral and limited financial literacy among entrepreneurs. The study aims to fill a gap in existing literature by analyzing the financial needs of MSMEs at various stages of their life cycle, specifically investigating the sources of finance utilized and the challenges encountered in accessing these funds.
KEYWORDS
MSME, GDP Growth, Key Barriers.
Dimple Saharan1*, Rashi Meena2
1,2Research Scholar, Department of E.A.F.M., Pandit Deendayal Upadhyaya Shekhawati University, Sikar-332024, Rajasthan, India