ShodhPatra: International Journal of Science and Humanities

The Concept of MSMEs: Elements influencing Entrepreneurial Activity in Himachal Pradesh

India's rising population and limited resources put pressure on the economic system. To fulfill the ever-increasing demand and alleviate pressure on the ecosystem, it is critical to understand the entrepreneurial activities and resource base that drive Micro, Small, Medium Enterprises commencement. Purpose: The author has attempted to investigate the multiple entrepreneurial activities and resource roots that influence entrepreneurs' overall perceptions. Furthermore, it is strived to determine the greatest feasible combination of the aforementioned characteristics while keeping in mind the limits of resource availability, cultural & customs, and traditions prevalent in the study area. Further, an analysis of these elements governing the enterprises' financial and marketing approach led to the necessity for a thorough and accurate grasp of its determinants. Methodology: The present study is both descriptive and exploratory. To meet the goals of the current research project, both primary and secondary data were gathered. Finding: The analysis and interpretation based on the methodology utilised led to the conclusion that the financial and marketing components serve as an important resource base for entrepreneurial activity to conceptualize Micro, Small, Medium Enterprises. Practical Implications: The study focused on entrepreneurs operating in Himachal Pradesh. As a result, appropriate strategies should be developed for the most appealing elements for entrepreneurs, serving as resource bases for conceptualize that affect for the establishment of Micro, Small, Medium Enterprises. These elements governing the firms' financial and marketing approaches reveals the necessity for a thorough and accurate understanding of their determinants, how they relate to one another, and the ramifications for the enterprises. Key Word: Micro, Small, Medium Enterprises, Financial aspects, Marketing aspects. JEL Classification: M1, M3, P43