MSMEs saw 11% dip in business due to lockdowns in 2021, says report

Interestingly, MSMEs going digital have increased. Use of in-app features per user has risen 72% over last year in a sign that MSMEs have started utilising full functionality of digital solutions

Micro, Small and Medium Enterprises (MSMEs) in India have seen an average 11 per cent decline in business volume due to lockdowns in 2021, compared to 46 per cent during the 2020 nationwide lockdown, said a survey conducted by fintech start-up Khatabook.

Interestingly, MSMEs preferring digital platforms have increased during the year. The usage of in-app features per user has increased by 72 per cent over the last year, indicating that MSMEs have started utilizing the full functionality of digital solutions. The steady increase in in-app feature utilization shows that small businesses are not just adopting digital but also becoming more