- The Economic Times Rise
Four out of 10 MSMEs changed their business models to survive Covid: Report
MUMBAI: Underlining the crushing impact of the pandemic’s second wave earlier this year on small businesses throughout India, over 70% of MSMEs interviewed for a new survey confirmed that their business suffered a debilitating impact in the aftermath of the second wave.
The online survey of 150 MSMEs spread across India was conducted by MSMEx, to study the impact of Covid-19 on the sector.
While 50% of the respondents affirmed that they are yet to fully recover from the ramifications of both waves of the pandemic, nearly 43% MSMEs said they changed their business model to survive the pandemic.