We are pleased to share the Khatabook MSME Business Sentiment Survey 2021-2022 insights. The Survey sums up the overall sentiment of small and medium business owners in India and their expectations for their business outcomes for the first six months of 2022. We reached out to 15942 MSMEs across every state in the country to understand their growth in Q3-Q4, the last 6 months, 2021, and expected growth in Q1-Q2, the first 6 months, 2022.
Here are some of the Key insights:
- 68% of MSMEs in India Optimistic about Business Growth in Q1-Q2, 2022
- 41% of small and medium business owners in India experienced growth in Q3-Q4, 2021, while 23% experienced a decline in the business.
- 36% Believed that their business had stayed stagnant in Q3-Q4, 2021.
- 54% of the businesses did not face any major issues
- Challenges faced by the MSMEs included weak demand, financial liquidity, and credit availability.
- Healthcare and Pharma were amongst the top scorers in the Sentiment survey.
- Businesses like education, restaurants, fashion lifestyle, and stationery/xerox struggled due to limited contact guidelines.
- The states where more businesses thrived in 2021 Q3-Q4 were Andhra Pradesh, Gujarat, Maharashtra, Rajasthan, and Madhya Pradesh
At Khatabook, we are committed to understanding our merchant users better to provide them with the best digital solutions to make their businesses more efficient and profitable. Business Sentiment Survey is an effort in that direction. We plan to conduct this survey every 6 months to identify the level of confidence for business growth and understand the key challenges for the MSME ecosystem in the country. These findings help us devise a strategy to better equip our users with technological capabilities to ensure their growth is not stinted.
CEO, and Co-founder, Khatabook