Small and medium enterprises (SMEs) have been the backbone of the Indian economy. According to the reports by the SMB Chamber of Commerce and the Ministry of MSMEs, India had more than 48 million SMEs in mid-2014. The ratio is growing at a stable pace of 4.5% in the last 5 years. As much is the escalation in the number of new businesses, there is a rise in the number of people exiting from their businesses. On an average every 3 years people shift businesses.
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