- Financial Express
Nearly 1 lakh micro enterprises grew into small businesses post pandemic | In pictures
The biggest jump in terms of t he number of companies scaling in size was recorded in the micro segment itself despite Covid disruption.93,048 micro enterprises in the country’s 6.3 crore-strong MSME sector have grown in size to become small enterprises post-pandemic between July 2020 and July 2022, as per data shared by MoS MSME Bhanu Pratap Singh Verma in Parliament. The biggest jump in terms of the number of companies scaling in size was recorded in the micro segment itself despite Covid disruption in comparison to 10,141 small enterprises moving to the medium business category and 1,602 micro enterprises growing to the small business category during the said period. In the current FY, as of July 20, 2022, the number of micro enterprises growing into small businesses more than doubled to 64,319 while small to medium transition during the period was also higher at 6,460 and likewise for micro to medium segment with 946 enterprises scaling up.