Mumbai, April 27 2020: Leading data, insights and consulting company, Kantar, has launched a report on the impact of COVID-19 on the Micro and Small businesses in India.
The study reveals the economic outlook of the MSEs, challenges that threaten their existence and the opportunities that they seek to remain relevant in the current times. Key findings from the report:
Overall COVID-19 impact on business
Key business areas impacted
Despite the overall low sentiments, at least 55% businesses are looking at leveraging opportunities to better their businesses in the current scenario.
35% are turning to leverage Technology and digital solutions. These include rehashing their business models, adopting digital channel for sales and customer communication strategies, adopting technology products and solutions, etc.
The report surveyed 420 players in 12 cities across Manufacturing, BFSI, IT/ ITES/ Telecom, Travel, Transport, Logistics, Retail and Outlets, Education and related areas, and Other professional services sectors.