Goa to Launch New Business Hubs to Boost MSME Growth

The Directorate of Industries, Trade, and Commerce (DITC) in Goa has announced plans to set up two Business Facilitation Centers (BFCs) and a Women Entrepreneurship Facilitation Center (WEFC) as part of the World Bank-funded Raising and Accelerating MSME Performance (RAMP) program.

These centers, expected to be operational by April, will be strategically located in Margao and Panaji, with the WEFC exclusively based in Panaji.

This initiative aligns with Goa’s strategic investment plan to boost MSME sector performance, which has received funding approval from the Ministry of MSME.

According to DITC officials, the program aims to enhance market access, improve credit availability, strengthen institutional governance, and address delayed payment issues affecting MSMEs.

Each Business Facilitation Center will have a structured leadership team, including a project head and experts in banking and compliance, marketing, business development, technology, and supply chain management.

The DITC will provide office space for these centers, positioning them as district-level support hubs for MSME development.

Over a three-year period, these centers will offer hands-on guidance to MSMEs, focusing on market linkages, financial services, and procurement processes. Additionally, the BFCs will collaborate with MSME clusters and industry associations to conduct sector performance analysis and identify operational challenges through stakeholder consultations.

The Women Entrepreneurship Facilitation Center will specifically address the challenges faced by women entrepreneurs. A dedicated team will analyze barriers preventing women from entering the business sector and work towards creating more inclusive entrepreneurial opportunities in Goa.