Enhancing Competitiveness And Addressing Urban Challenges: An Exploratory Study On The Integration Of Sustainable Development Goals (Sdgs) Among Msmes In Bengaluru

Abstract

Micro, Small, and Medium Enterprises (MSMEs) are crucial in stimulating economic growth and entrepreneurship development. Even with an escalated inquisitiveness from entrepreneurs regarding business sustainability, awareness remains considerably limited, reducing their competitiveness among the socio-economic factors. The study aims to analyze the factors that influence MSMEs to adopt the Sustainable Development Goals. It also examines the urban business challenges of MSMEs and the need for utilizing SDGs as a tool to tackle those challenges. An inductive qualitative approach is utilized. The data is collected through semi-structured interviews and surveys with 10 MSME owners from KR Road (Bamboo basket Weavers) and Pottery Town (Potters) as case studies from Bengaluru’s urban district, who observe SDGs in their businesses. The data is analyzed using the Gioia Method. The findings reveal that the first approach, sustainability as a means to cognizance, ensures the importance of the inevitable inclusion of sustainable business practices in MSMEs through the help of Government initiatives. The second approach, sustainability as a competitive advantage, identified the uniqueness of MSME businesses for their innovation. The third approach, sustainability as an Eco-efficiency approach, considers sustainability as an important tool to deal with the environmental, social, and financial concerns of the nation. The study offers insights for future researchers and MSME businesses to facilitate the transition of MSMEs toward sustainability.