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Based on a survey conducted in-house with ~ 3K MSMEs to understand their business expectations for the new year, NeoGrowth MSME Business Confidence Study 2023 revealed that MSMEs are confident about their business and consumer demand as they step into 2023 with optimism. 96% of the studied MSME owners expect their profits to increase in 2023 and smaller cities are expected to drive credit demand as per the study.
The MSME Business Confidence Study was conducted nationwide with responses from close to 3,000 MSME owners. The study covered the expectations of India’s MSME owners across 25+ cities and 70+ business segments, as they step into 2023 amidst global volatility.
