Empower MSMEs
An initiative by Kartik Lakhotia to empower entrepreneurs by enhancing their awareness of the schemes, incentives, and support available for launching Micro, Small, and Medium Enterprises (MSMEs), while also suggesting strategies to foster their growth and success.
They contribute 35% of GDP in developing countries and 50% in developed nations
Project Outcome
Interviews of MSMEs
Insights and Stories from the Heart of Small and Medium Enterprises
MSME Survey Results
Key Insights, Emerging Trends, and In-Depth Analysis Revealed
Community Engagement
Building Connections and Strengthening Local Ties
Recommendations for Existing MSMEs
Enhancing Local Engagement and Driving Sustainable Growth
Recommendations for New MSMEs
Building Strong Foundations and Connecting with Local Communities
Suggested Methodologies for Government
Advancing Policy and Public Services for a Stronger, More Inclusive Future
About the Founder
Kartik Lakhotia, a high school student at Step by Step School, Noida, has been passionate about Economics and Entrepreneurship since Grade 11.
Inspired by his school club activities and summer internships, he launched this project to engage with MSMEs, educate youth on finance, and recommend strategies to the Indian government.
What is MSME?
Micro, Small, Medium Enterprises (MSMEs) are entities that are involved in the production, manufacturing and processing of goods and commodities. The concept of MSME was first introduced by the government of India through the Micro, Small & Medium Enterprises Development (MSMED) Act, 2006.
In India, MSMEs are classified on basis of investment in plant and machinery for Manufacturing Enterprises or investment in equipment for Service Enterprises, reflecting the country’s capital scarcity and labour abundance.
MSMEs: Catalysts for Entrepreneurial Growth
MSMEs offer a fertile ground for aspiring entrepreneurs by lowering entry barriers compared to large corporations. This fosters economic growth, a culture of entrepreneurship, and a competitive business landscape.
Governments and financial institutions support this by implementing policies and programs that bolster MSMEs and encourage grassroots ventures.
