There is a need for collaboration between small and medium enterprises and financial institutions, according to Sanjaya Baru, Director, International Institute for Strategic Studies.
“It should be a day-to-day interaction to ensure that small businesses are on a firm financial footing,” he said in his address at a bankers’ conclave on the MSME sector organised by Fapcci here on Saturday.
Small and medium enterprises should focus on finance, technology and efficiency to reduce the mortality rate, he said.
The MSMEs should try to stand on their own after a period of time without fear of losing the initial concessions, he added.