Businesses Severely Hit by Demonetization

Small Businesses are facing the brunt of Demonetization even since the historic decision is announced and there is no respite to the woes even as we have completed 40 days. The festival season for the businesses will begin a week prior to Christmas and will go on till Sankranthi.

[m9ad]

The colourful stars and the garments sale for Christmas are severely hit and even the purchases in the shopping malls and shops largely decreased. Small Business owners accept their payments only in cash and due to the cash crunch, public are reluctant to make the purchases.

Wholesale traders are hit due to the lack of demand from the small business owners. They are hoping that bringing more currency into circulation and increasing the withdrawal limit on the occasion of festival season will bring liveliness in the markets.