Literature review: Financial problems of micro, small and medium enterprises

Finance is the crucial for the survival and growth of micro, small and medium enterprises of developing and developed countries. It helps in promoting and expanding the business which helps in national economic and social growth. MSMEs are different from large enterprises in terms of finance decision and behaviour. The research paper is based on secondary data, literature review has been done on financial problems faced by MSMEs. Enterprises are mostly closed due to insufficient finance. MSME sector has huge contribution but it also faces tremendous problems. Inadequate access to financial service, incomplete knowledge of financial market and MSMEs are considered as less creditworthy by financial institutions are some of the most common problems faced by micro, small and medium enterprises. With the government efforts entrepreneurial activities are promoted but entrepreneurs are not aware of schemes which can benefit the enterprises and hence they are facing the financial problems.