Challenges Faced by sme Research 2022

Running Head: CHALLENGES FACED BY SME
CHALLENGES FACED BY SME
Name of the Student
Name of the University
Author Note

CHALLENGES FACED BY SME1
Introduction
The major topic of this research is to explore the contributions made by the
managerial staff in the progress of an organization. The SME or the Small and Medium
Enterprises face a variety of challenges before the bigger firms. This paper discusses these
issues and looks into the ways in which the managerial staffs, comprising of the human
resource management, the customer service team and the accounts and finance
department who can work together to enhance the company’s market value and revenues
earned.
Discussion
Many a times, the administrative sets challenges for the upper management bodies to
achieve a certain goal or target within the structure of the organization. Achieving these goals
by the upper management heads, require greater help from the managerial staff and the
employees. However, there are challenges to the situation when the management faces
external issues like availability of financial support in the market structure, lack of resources
or assets to support such requirements of capital and lack of advanced technologies.
Financial Challenges:
In one of these situations, an example of bank loans provided by India Banks charges
an interest of about 10-20 percent, which is significantly high. More so, because it rests in a
time when the economy faces huge gaps and fluctuations in these gaps between the supply
and demand (Kumar. 2019). This creates a difficult situation for the SMEs to acquire
credit facilities or financial support. In such situations, the human resource management
team of an organization must incorporate in the inclusion of strategists and by adding not
only a value but also uniqueness in the organization. (Sani &Worlu, 2018). Realization of the
absorptive capacity of the firm by the managers is also essential to put the best foot forward