“Micro, small and medium-sized businesses are key to creating the 600 million new jobs needed by 2030 to keep pace with the growth of the world’s working-age population”
Amina J Mohammed
United Natin Deputy Secretary
SME Competitiveness Outlook 2019
The International Council for Small Business(ICSB), that is devoted to the interests and advancement of small businesses globally, ascertained that Micro-, Small and Medium-sized Enterprises (MSMEs) account for over 90% of all businesses and around 70% of jobs worldwide– which is a decisive capacity in stimulating economic growth and providing employment for the pools of people who are desperately in need for help, they are usually women, young entrepreneurs, and poor communities.
Back in 2017, in order to acknowledge the high imperativeness of Micro, Small and Medium-sized
Micro, Small and Medium Enterprises, the First ones to the Rescue
As mentioned earlier, Enterprises in the MSMEs stratum are accountable for major employment and income generation opportunities across the whole world and have been proven to be a prime source dedicated towards the eradication of poverty and stimulation of development.
MSMEs tend to employ people who are inexperienced and aren’t likely to land a job
MSMEs are the first responders to societal needs and provide the safety net for inclusiveness.
MSME Day 2019
It’s 2019, there has never been a greater need for investments into small and mid-sized businesses, most especially in developing countries. The UN General Assembly
The United Nations entity and the International Trade Centre are working in tandem for MSME as one (The UN entity) supports the globalization of Micro, Small and Medium-sized
Being a small organization: Double-edged sword
While it is facile for smaller businesses to
Discerning international opportunities and navigating trade-related procedures can be a massive hassle for small businesses compared to their larger counterparts. The Sustainable Development Goals (SDGs) of the 2030 Agenda realized the importance of MSMEs.
SMEs are an important element in the implementation of SDG 8 (decent work and economic growth) and SDG 9 (industry, innovation and infrastructure). SDG targets 8.3 and 9.3 call for enhancing the access of SMEs to financial services.
It is a nice gesture for the UN to dedicate an entire day all MSMEs. It should be our responsibility, as people, to extend felicitations and express appreciation to MSMEs for what they have done and been doing for people, be it– innovation, taking risks, providing employment on a larger scale[90%] or inspiration to tens of thousands of young aspiring entrepreneurs.
Kudos to you, MSMEs.