91 thoughts on “What about Good Governance in MSMEs”
Pranshu Shrimali
MSME is one sector that provides employment to crores of people here. But the sector remains unorganised and even PF and bonus benefits arent provided to employees. They need training on governance.
Indian companies, large or small, have lack of compliance for corporate governance norms. The rules have to become strict enough so that companies like Sahara do not indulge in unlawful activities.
Small scale enterprises are the pulse of this country and if they start performing better the job crisis we are facing will fade away. Professionalism should be infused in them.
It is all about better education on how to manage company affairs. Many small entrepreneurs never attend higher education institutions hence they cannot be expected to have governance skills.
The government needs to set up short-term courses for MSMEs in corporate governance. Now when we have channels like Youtube and live streaming this should not be a costly scheme to implement.
You may be right in this regard but resources lack for micro level enterprises to introduce corporate governance in their functioning. Even Chinese import is killing their margins.
Board meetings for every company, small or large is a necessity because by this tool they can keep an eye on operations and assess the past results and plan for future.
Its not that simple for all companies to have such governance norms in place since the human resource needed for this has to be skilled. The country needs more skilled workforce for this to happen.
Indian can never become Japan since we lack the kind of working style they have. They are more disciplined and abide by regulations. Our companies look for ways to cut costs.
Listed companies have statutory need to call meetings of board and prepare standalone and consolidated financial statements. Are there adequate financial experts in India that even smaller ones can do this?
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MSME is one sector that provides employment to crores of people here. But the sector remains unorganised and even PF and bonus benefits arent provided to employees. They need training on governance.
Indian companies, large or small, have lack of compliance for corporate governance norms. The rules have to become strict enough so that companies like Sahara do not indulge in unlawful activities.
Small scale enterprises are the pulse of this country and if they start performing better the job crisis we are facing will fade away. Professionalism should be infused in them.
It is all about better education on how to manage company affairs. Many small entrepreneurs never attend higher education institutions hence they cannot be expected to have governance skills.
The government needs to set up short-term courses for MSMEs in corporate governance. Now when we have channels like Youtube and live streaming this should not be a costly scheme to implement.
You may be right in this regard but resources lack for micro level enterprises to introduce corporate governance in their functioning. Even Chinese import is killing their margins.
Board meetings for every company, small or large is a necessity because by this tool they can keep an eye on operations and assess the past results and plan for future.
Its not that simple for all companies to have such governance norms in place since the human resource needed for this has to be skilled. The country needs more skilled workforce for this to happen.
Indian can never become Japan since we lack the kind of working style they have. They are more disciplined and abide by regulations. Our companies look for ways to cut costs.
Listed companies have statutory need to call meetings of board and prepare standalone and consolidated financial statements. Are there adequate financial experts in India that even smaller ones can do this?
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