Why digital accounting is important for MSMEs post-Covid era

MSMEs form the backbone of the economy, contributing over 40% to the country’s GDP. India is home to nearly 56 million MSME entrepreneurs and so the industry creates significant employment opportunities. MSMEs thus are considered to be engines of economic growth that promote equitable development. Yet, several of these enterprises are struggling to make ends meet on account of the outbreak of the global pandemic and facing a lack of liquidity. This has made it necessary to restructure the ways by which micro, small and medium-sized companies can more easily rebuild and relaunch their businesses. Digital transformation can play a defining role here.

from IndiaTV Business: Google News Feed https://ift.tt/2RRJ5Ey