It is not a brainer to infer that small businesses in the country invariably struggle to maintain high quality standards while meeting production demands. It's essential for business owners to realize that upholding quality measures is not just a formality but a vital strategy for growth and sustainability.

My conclusion comes from a recent report from the Mckinsey Global Institute that highlights a productivity gap between Micro, Small and Medium Enterprises (MSMEs) and larger corporations in both emerging and developed economies. In India, MSMEs are only 24% as productive as their larger counterparts with a substantial productivity gap of 76%. Closing this gap could potentially boost output by around 10% of the GDP.

Today's consumers have an abundance of choices in the market and are becoming more discerning about product quality. Small businesses can no longer afford to take shortcuts; every product or service they offer must meet quality standards. Maintaining high quality standards should be ingrained as a principle of the business.