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Legal Problems of the Small and Medium Enterprises Sector

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Legal Problems of the Small and Medium Enterprises Sector
A STUDY ON “LICIT SECT TYCOONS IN SMALL AND MEDIUM ENTERPRISES”
AT
“IPDOME STRATEGY.PVT.LTD”
By

ABSTRACT

The study deals with “A STUDY ON LICT SECT TYCOONS IN SMALL AND MEDIUM ENTERPRISES AT IPDOME STRATEGY” The main objective of this study is to know about the legal problems faced by the small and medium enterprises and to enhance their growth.
The Small and Medium Scale Enterprises/Industries (SMEs) are functioning as a lifeline in industrial sector in tamilnadu due to their significant contribution to overall economy in terms of employment, exports, tax income, innovation, equitable income distribution, social stability, domestic resources usage and regional development. Despite of various interventions aimed at improving the business environment in Tamilnadu, the legal and regulatory framework is bureaucratic, costly and centralised.These characteristics of the legal and regulatory environment affect all sizes of businesses adversely. However, SMEs are further constrained in this environment in comparison to larger businesses due to the disproportionately heavy costs of compliance arising from their size. As a result most of informal enterprises have failed to formalise and micro enterprises have been unable to grow and graduate into Small and medium enterprises. The main obstacle to understand the various legal issues related to the growth and development of SMEs. The main data sources for this study are the latest Industrial Census in tamilnadu. The main objective of this paper is identification of issues and legal problems related to the SMEs with special emphasis on definitional and future research direction aspects and assisting the existing industrial base to consolidate its gains and promote its efficient growth in the highly competitive domestic and export markets. The final outcome of this paper is to show the legal measures to follow by the small entrepreneurs to improve their business efficiency and to give some suggestion for the
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