SME key reforms: Streamlining of taxes, ease of regulation, skilled labour can really benefits small businesses - Here is how

SME business: Streamlining of the taxes, ease of regulatory policies, adequate financial options and skilled labour is required for betterment of small businesses. The industry insiders say 'Skill India' and other majors have helped SMEs alot but now it needs expanding the government programmes along with some policy initiatives that can help the SME business to scale new highs.

Sampad Swain, CEO and Co-Founder at Instamojo said, "We look forward to the next phase of growth and economic development. Across the last 5 years, we have witnessed the implementation of some impactful initiatives including that of Digital India and Make in India which continue to benefit the growth of the economy. For the years ahead, we hope that the government introduces measures to streamline taxes and ease regulatory policies for the MSMEs of the country, which would further the impetus of the sector and ease of doing business. Also, we believe that the government should address the major challenges faced by MSMEs, primarily the absence of adequate financial options and skilled labor which is a significant deterrent to the progress of the sector.”

Elaborating upon the need for expanding the Skill India programme for little bigger organisations Rajeev Chawla, Chairman, IamSMEofIndia said, "SMEs in India are facing an acute skilled labour shortage. The Skill India programme was a good initiative and now it needs to reach out to more number of units and for that, it requires some aggressive approach from the government side because getting skilled labour means half the war won by the emerging entrepreneurs."