How Industrial Parks are Boosting MSMEs
In recent years, industrial parks have emerged as catalysts for economic growth, especially for Micro, Small, and Medium Enterprises (MSMEs). These specialised zones dedicated to industrial and commercial activities have proven to be instrumental in boosting the growth and development of MSMEs. In this blog, we will learn how industrial parks are playing a pivotal role in uplifting MSMEs and driving economic progress. What are MSMEs? Micro, Small, and Medium Enterprises (MSMEs) are businesses that fall within a certain range of annual revenue, investment, or employment numbers, depending on the country's classification. Micro Enterprises These are the smallest businesses, often consisting of only a few employees. They typically have limited capital, revenue, and resources. Micro-enterprises are the backbone of many local economies, especially in rural areas. Small Enterprises Small businesses are slightly larger than micro-enterprises and may have a larger workf...