Kathmandu, July 8 -- The number of micro, cottage and small enterprises (MCSEs) registered in Nepal has plunged by nearly 75 percent over the past five years despite a series of government policies and programmes aimed at promoting the sector.

Entrepreneurs say inadequate access to finance, poor market access and government support that often benefits only those with political or bureaucratic connections have discouraged them from registering and operating formally.

According to the Micro, Cottage and Small Industries [enterprises] Statistics published by the Department of Industry, only 21,029 micro, cottage and small enterprises were registered in the last fiscal year, down 74.8 percent from 83,386 registrations in fiscal year 2020-21...