MSME refers to Micro, Small, and Medium Enterprises, which were introduced by the Government of India by the Micro, Small, and Medium Enterprises Development Act, 2006. MSME is initiated and managed under the Ministry of MSME (MoMSME) and is an entity engaged in the production, manufacture, processing, and preservation of goods and commodities.
How can lawyers help MSMEs?
Lawyers should go the extra mile to assist MSMEs not only in their field of expertise but also in other areas such as technical and operational challenges. These enterprises face the urgency and complexity of reopening their businesses and lawyers can help them to turn whopping challenges into meaningful change. With the help from lawyers, the MSMEs’ can freely drive their business and that can help business owners navigate the challenge they were facing in the operation. Lawyers can guide them to follow the standard procedures according to the law and ensure compliance with the government. Lawyers should also help the MSMEs’ to overcome the challenges in the restoration of their business.
The advice and support of a lawyer will help MSMEs entrepreneurs to take critical decisions that will influence the lives of millions of people and shape society for the future. Lawyers have the power and potential that can create a mechanism that may help businesses and enterprises to make conceivable growth and move forward as they are the support system for business and enterprise.