Exploring Challenges Faced by Micro,Small and Medium Enterprises: A Study of Sports Goods Industry of Punjab

Abstract

The present study analyses data based on perception to identify challenges being faced by micro, small and medium enterprises (MSMEs) of the sports goods industry during the post-reforms period. Owing to the glorious history of this industry, it becomes pertinent to identify the major constraints to the growth of this sector. The objective of the present study is to test the hypothesis in order to ascertain the problems that the firms are facing under the present scenario, which affects the enterprises in almost every way. The constraints in the path of the sports goods industry are paramount. Despite exemplary contribution to the gross domestic product (GDP) of the country, this industry is lagging behind many other industries, which is quite questionable. Thus, the critical problems faced by MSMEs have been studied very intensively using exploratory factor analysis (EFA). The focus of the study is on the period with effect from the revision in the definition of the MSME sector and the development of the MSMED Act, 2006. The data were collected from 107 sports goods enterprises in the region of Jalandhar, Punjab. The instrument used for data collection was a structured research schedule and through the interview method. Furthermore, the data were deeply analysed with the help of Statistical Package for the Social Sciences (SPSS) software and the results of the same are presented in the form of a framework.