Question

Identify a micro business within your locality and document it’s sales performance prospects and challenges. Make recommendations to improve the situation for the firm

Answer 1

In my locality, there is a micro business which is involving providing loans to the smaller businesses and it is generally a micro finance business and it is focused at providing all the startups with the lower rate of interest in my locality who cannot afford higher rate Interest from commercial banks.

This microfinance company is called ujjivan small finance and it is trying to provide all the the startups who are eligible and offering them customised rate of interest in order to help them achieve their business objectives.

It is also grooming by higher rate of growth because it can be seen that microfinance business in India is growing due to who growth of credit in its underpenetrated economy.

The sales performance of the company is increasing on the year because the credit growth has been phenomenal and the large amount of growth can be attributed to startup India.

challenges related to this company would be to face the macro challenges arising out of Corona virus and slow down of the demand and slow down of the credit process.