Institutional and Infrastructural Voids as Macro-Determinants of Entrepreneurial Well-being in Assam’s MSME Sector: A Conceptual Review
Author : Rijushmita Goswami
Abstract :
Micro, Small, and Medium Enterprises (MSMEs) in Assam, India, are witnessing a period of hyper-growth, with Udyam registrations increasing significantly between FY 2020-21 and FY 2023-24. However, this rapid expansion, overwhelmingly concentrated in low-resource Micro units, occurs within the high-friction environment of India's North Eastern Region (NER). This conceptual review utilizes Institutional Theory to analyze how systemic institutional failures—termed Institutional Voids (IVs)—translate into chronic, non-financial macro-determinants of Entrepreneurial Well-being (EWB). By synthesizing secondary data from government reports, policy documents, and academic literature, the study identifies three critical IVs: the Financial Void (tightening credit and limited local flow), the Policy Implementation Void (PIV) (administrative delays and opacity regarding incentives), and the Infrastructural Void (severe physical barriers and technical support absence). The core finding is that these IVs create an "exacerbating context" that forces entrepreneurs into an unsustainable cycle of operational damage control, thereby depleting their Psychological Capital (PsyCap) and elevating the risk of chronic stress and burnout. This review establishes EWB as a critical measure of venture sustainability in high-volatility environments and provides a robust foundation for policy development. Suggestions include prioritizing financial inclusion, enhancing policy transparency through digital tracking, and targeted infrastructural investment to mitigate institutional friction, thereby safeguarding entrepreneurial mental health and long-term business sustainability.
Keywords :
MSME, Entrepreneurial Well-being (EWB), Institutional Voids (IVs), Assam, North Eastern Region (NER), Policy Implementation Void, Psychological Capital, Conceptual Review.
