India, May 3 -- The rapidly evolving and increasingly competitive marketplace brings many new challenges to micro, small, and medium enterprises (MSMEs).

The paucity of trained labor is one challenge they battle every day, forcing business owners to either contend with fewer workers or work with untrained staff, resulting in poor deliverables. Rising costs due to inflation across supply chains, energy, and materials squeeze the already thin profit margins.

The whole scenario is further worsened by inherent inefficiencies that most small businesses fail to identify and address, thanks to their limited resources. The same is supported by data that reveals that 76% of manufacturing firms have reported skilled labor shortages impacting thei...