Challenges and Issues of Setting Up New Small and Medium Scale Business in Pakistan

Abstract

The purpose of this project is to discuss about the shortcoming, challenges and pitfalls of Small and Medium Enterprises (SME) in Pakistan and discuss regarding better ways and directions of run enterprises. The main objective of this paper is to highlight the issues and challenges faced by SME and new entrepreneurs and provide those solutions and suggestion by following the Small and Medium Enterprises Development Authority of Pakistan (SMEDA). This project is prepared based on secondary data mostly from previous relevant articles and research papers on SMEs. This project also discusses the todays scenario about the small businesses in Pakistan specially alarming issues like COVID19 and why new entrepreneur is too much confused to implement his/her idea. Because in current days how COVID19 has affected the multinational and Pakistani businesses. The project tells us how entrepreneur survive in this pandemic situation. Although provided suggestion in this project are not enough to support SMEs but these will help them to weather the storm.