Challenges And Innovations In Small Scale Sector Post Covid-19

Covid-19 and resultant lockdown to contain the spread of virus has blown a millions of small business organizations in the country. Without proper assistance and support, they find it difficult to survive. During this situation, Small scale sector is too small to survive. The small scale sector is the most vulnerable one due to its scale of operation, size, limited managerial and financial resources. They are unable to cope up with the challenges which are forced on them. During the normal times, it is difficult for them to survive and they have limited capacity to deal with unexpected situations. Due to the fragmented nature of SMEs, the larger companies are interested to acquire smaller one due to talent level which is seen in the latter. Innovations happen in small scale industries. Due to their limited capabilities, they are unable to elevate things to logical conclusion. Indian ecosystem for start-ups has occupied third place as they think differently. For their sustenance, more support is required. To attain better possibilities of future success, there is a need to provide significance to technological inputs and consider environmental aspects for small scale sector that would help to build up to go forward. As the future world is relied on environmental issues, it is important for new business organizations to focus on these areas and work with other business organizations. Thus environmental issues have to be the mainstream of the business. In the present article, the challenges faced by small scale sector during pandemic, their self assessment and innovations required were discussed.