There are a number of family businesses in India that are MSMEs. However, many are unable to have a proper succession plan or aren't 'professional' enough to ensure business growth. Among the reasons for lack of professionalism in family businesses is the absence of a 'family constitution' tells Surinder Singh Bhogal, Managing Partner at Bhogal Sales Corporation. A veteran in the bicycle industry for over 40 years, Bhogal has his own brand and is also an OEM supplier to several international bicycle brands in many countries.
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