On their part the banks would need to be pragmatic and sympathetic to the problems that the firms is facing and be willing to provide all possible help. Remember, bankers and borrowers have a symbiotic relationship and one cannot prosper in isolation. Most of the MSMEs are individual-driven enterprises with no succession planning.
In order to sustain an enterprise entity, it is essential even for small to mid-size firms to plan for future by identifying a successor. 11. To sum up, the strategic importance of MSME sector as a prime mover of employment and economic growth in the country can hardly be overemphasized.