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The challenges of MSMEs that aspiring entrepreneurs could work on solving: 1. Legal and Business Compliances Navigating the maze of legal & business regulations can be a major hurdle for small enterprises, often requiring significant time & effort to stay compliant with changing rules. 2. Access to Credit Securing financing remains a significant challenge for many MSMEs. However, recent innovations like the ULI (Unified Lending Interface) introduced by the government could be a game-changer, offering MSMEs quicker & easier access to credit, much like UPI revolutionized digital payments. 3. Market Access Gaining access to broader markets, whether at the city, state, or national level, remains a key challenge for MSMEs. Many struggle to expand their customer base and reach new markets. 4. Skilled Workforce Attracting and retaining a skilled workforce continues to be a challenge for MSMEs. Although job platforms are available, finding the right talent remains a persistent issue.
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