Journal Press India^®

Author Details ( * ) denotes Corresponding author

Purpose: The present study focuses on identifying the challenges in the growth of Micro, Small, and Medium enterprises (MSMEs) in Thimphu dzongkhag, Bhutan. For studying the challenges to MSMEs, five major variables have been identified i.e., legal and regulation, human resource capabilities, access to external finance, managerial capabilities, and technological challenges.

Design/Methodology/Approach: The study has used a quantitative and descriptive methodology and data have been collected by using a structured questionnaire from 350 respondents scattered all over in Thimphu. Descriptive statistics like mean and standard deviation have been used to describe the challenges.

Findings: Among the five factors, accessing finance was considered as the major factor that hinders the growth of MSME in Bhutan followed by marketing challenges.

Research Limitations: The number of business enterprises in Bhutan is less. The respondents were very reluctant to give their opinion.

Practical Implications: The major challenges are access to external finance, marketing challenges, managerial challenges, human resource capabilities, legal and regulatory, and technological challenges which need to be taken care by policy maker for the growth and survival of MSMEs in Bhutan.

Originality/Value: The Government and business entrepreneurs would be able to adopt the required steps in order to minimize the challenges faced by MSMEs in the future for the young entrepreneurs of Bhutan.

Keywords

MSMEs; Legal and regulation; Human Resource capabilities; External Finance; Managerial Capabilities; Technological Challenges.

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