In 2022, the International Council for Small Business (ICSB) held its World Congress in Washington, D.C., with a theme that resonated around the globe: the Entrepreneurial Revolution. This theme was both groundbreaking and shocking, as ICSB declared a revolution was indeed happening in the entrepreneurship domain.

Catalysts of Change
The Entrepreneurial Revolution, as defined by ICSB, has been fueled by a confluence of global challenges in recent years. Among these are the lingering and devastating effects of the war in Ukraine, the relentless battle with Covid-19, and the escalating challenges related to climate change.

These pressing issues have shaped the global landscape and galvanized a new era of entrepreneurial spirit that requires innovation, frugality, resilience, and a collaborative mindset.

Entrepreneurship for Humanity & Peace: The 2023 ICSB World Congress

The 2023 World Congress centered on “Entrepreneurship for Humanity & Peace.” The rationale behind this theme was the urgent need to counter the global challenges faced in 2022 with a proactive and united plan.

ICSB emphasized a multi-faceted approach, focusing on all aspects of this strategy. One of the critical elements highlighted was the role of Women and Youth entrepreneurship, especially in alignment with the UN Micro, Small, and Medium-sized Enterprises (MSMEs) Day. This perspective stems from an understanding that empowering these demographic groups can lead to a more inclusive and robust global economy.

Progress and the Path Forward Based on a Human-Centered Approach

While there is a sense of progress and a growing global dialogue surrounding these issues, the ICSB recognizes that a significant spark is needed to propel this movement further. The focus is now shifting to what is believed to be the solution: harnessing the ideas of the youth and leveraging technology as a driver.

The power of young minds, fueled by technological innovation, can catalyze positive change, bridging gaps and creating opportunities. It’s a path that acknowledges the interdependence of various sectors and the need for a cohesive strategy to tackle global challenges.

Upcoming: The 2024 ICSB World Congress in Berlin, Germany

As the world continues to grapple with the complexities of the current global landscape, the ICSB is actively planning for the future. A new theme for the 2024 World Congress is on the horizon, with the promise of further building on the momentum created.

There’s a palpable sense of anticipation as the ICSB continues championing the cause of the Entrepreneurial Revolution. With a clear vision and a collaborative approach, they are making strides towards a future where entrepreneurship is not merely a business concept but a tool for building peace, humanity, and a more harmonious world.

Stay tuned as the journey continues and a new chapter unfolds in the exciting and ever-evolving world of entrepreneurship. The ICSB’s unwavering commitment to innovation and social responsibility promises to guide us towards new horizons, as they declare, “We have a plan.”

by: Ayman ElTarabishy
President & CEO, ICSB

The International Council for Small Business (ICSB) Pre-Conference, held recently in Jinju City, South Korea, was a remarkable event that unfolded numerous insights and perspectives into the interconnections of history, nature, and culture. With the primary focus on exploring the beauty of South Korea and its unique entrepreneurial landscape, the pre-conference allowed participants to delve into unexplored facets of Korean entrepreneurship.

This groundbreaking forum successfully highlighted how deeply intertwined the concepts of history, nature, and culture are when understanding a region’s entrepreneurial ecosystem. South Korea, with its rich history, diverse nature, and vibrant culture, provided the perfect backdrop to the discussions.

A significant highlight of the pre-conference was the keynote address by Dr. Ayman El Tarabishy. Dr. Tarabishy’s words offered a thought-provoking perspective on the current shift observed in entrepreneurial attitudes. He noted that the concepts Western society has been exploring in recent years, such as social entrepreneurship, the circular economy, and the Sustainable Development Goals (SDGs), are deeply rooted in Eastern cultural norms.

“The Western entrepreneurship landscape seems to be moving towards Eastern entrepreneurship,” he said, emphasizing the underlying values of humanity, society, and environmental stewardship that have been core to the East. Though represented in contemporary terms, these concepts reflect ancient Eastern cultural principles. He elaborated on this notion by drawing parallels to the basic elements of earth, wind, fire, and water.

“We may be using newer words, but at its root, we are all connected to the same elements of earth, wind, fire, and water,” Dr. Tarabishy articulated. This profound statement echoed the sentiments of the pre-conference, connecting our global entrepreneurial ventures to the fundamental aspects of our existence.

These elements symbolize a cyclical relationship between humans and nature, much like the tenets of a circular economy, where waste is minimized and resources are continuously reused. They also embody the symbiotic relationship between society and entrepreneurs, reflecting the core tenets of social entrepreneurship.

At its core, the ICSB Forum in Jinju City was an enlightening exploration of Korean entrepreneurship’s uniqueness, set against the country’s rich cultural and natural heritage. The event helped delegates appreciate the inherent linkages between Eastern and Western concepts of entrepreneurship. Through exploring South Korea’s history, culture, and natural beauty, the conference successfully highlighted the interconnectedness of entrepreneurship with wider societal and environmental values.

The event underscored the truth that while languages, terms, and practices may evolve with time, the fundamental essence of entrepreneurship remains connected to the core elements that define us as humans and our relationship with the planet we inhabit. This insightful journey was a vivid reminder that in our pursuit of progress, we should never lose sight of our roots and the principles that bind us together as a global society.

A special thanks to Mayor Cho Kyu-il of Jinju and the City of Jinju for their amazing hospitality. We will always cherish and remember Jinju, the birthplace of K-Entrepreneurship.

We are delighted to announce the release of the 6th edition of our Global Micro, Small, and Medium Enterprises (MSMEs) Report, a signature publication by the International Council for Small Business (ICSB). This year’s report highlights the transformative power of youth and women entrepreneurship and their pivotal role in bolstering supply chain enhancement.

Download Here:  (Click Here).

At the onset, we express our profound gratitude to the Mission of Argentina for their unwavering dedication and collaboration in establishing the Micro, Small, and Medium-sized Enterprises Day. Born out of their remarkable commitment, this global celebration serves as a lighthouse to acknowledge and amplify the impact of MSMEs worldwide. Argentina’s steadfast support for this cause strengthens its recognition of MSMEs as strong economic growth, innovation, and social empowerment drivers.

This year’s report aligns with the United Nations’ Sustainable Development Goals (SDGs). It unravels the complex world of MSMEs and their deep-rooted impact on sustainable development. The report illuminates how youth and women entrepreneurs’ innovative spirit, creativity, and resilience are reshaping industries, encouraging inclusive growth, and fostering equitable opportunities for all.

In addition, this edition emphasizes the crucial need to nurture supply chains that adhere to responsible practices, advocate for fair trade, and contribute towards a more sustainable future. We hope our findings will inspire you, foster meaningful dialogues, and ignite actions to support these vital sectors of our global economy.

In closing, this report represents more than just data and insights; it is a collective testament to the best practices, experiences, and success stories of numerous partners and contributors. This comprehensive approach is what makes our report unique and enriching.

This inclusive collaboration is fundamental in capturing the diverse strategies and techniques employed worldwide. By learning from each other’s successes and challenges, we are better equipped to drive impactful change and scale effective solutions.

The value of this collective intelligence cannot be overstated. It underpins our commitment to fostering a global community of innovators and change-makers, all working towards the shared goal of empowering MSMEs and, by extension, our global economy.

We encourage you to delve into the findings of this report, draw inspiration from the innovative practices it highlights, and join us in our mission to leverage the full potential of MSMEs. Together, we can pave the way for a more inclusive and sustainable future through shared knowledge and concerted action.

Thank you for your continued support and dedication to this cause.

This year’s MSME Day unfolded as a truly spectacular event, captivating the attention of global audiences with its timely discussions. Convened at the United Nations, subject matter experts from around the world gathered both in person and virtually to address crucial topics ranging from global ecosystem development for MSMEs to the challenges faced by women and youth entrepreneurs, as well as the transformative power of innovation. Against a backdrop of urgency, unity, and hope, the event emphasized a human approach and the allocation of vital resources such as funds, toolkits, and other support services. Recognizing that MSMEs constitute over 90% of global businesses and serve as the backbone of economies worldwide, speakers shed light on how to overcome the multiple shocks and crises that have disrupted the global working environment for these micro-, small-, and medium-sized enterprises.

Throughout the event, representatives stressed the importance of offering comprehensive support portfolios to MSMEs, both to strengthen businesses in developing economies but also to reduce the risk of pursuing entrepreneurship in developed countries. The significance of innovation as a lifeblood for successful entrepreneurship was underscored, so was the need for high-touch, high-meaning solutions. Notable speakers shared their insights including approaches such as “learning by feeling” to empower women entrepreneurs. Furthermore, participants emphasized the role of MSMEs in shaping national policies and highlighted the strategic plans required to galvanize them, ensuring responsible entrepreneurship and knowledge transfer alongside new public support.

Amidst the exchange of ideas and experiences, a shared sense of excitement permeated the discussions, as participants recognized the promising path ahead. The event served as a call to action, urging all stakeholders to embrace the opportunities and challenges that lie ahead. With perspectives shared from diverse economies such as Germany, South Africa, Switzerland, Italy, Saudi Arabia, and others, the discussions echoed the global nature of MSMEs and the collective responsibility to foster their growth and sustainability. MSME Day set the stage for a future where MSMEs thrive and contribute to a more inclusive and prosperous world. As the echoes of the discussions linger, it is our collective duty to heed the call and embark on the journey towards empowering MSMEs, shaping policies, and creating an environment conducive to their success.

As we venture into the forthcoming year, take a moment to reflect on the role you can play in supporting MSMEs. Let us ask ourselves: How can we contribute to their success? Whether it entails making a conscious effort to buy local, enthusiastically spreading the word about their offerings, forging partnerships with MSME associations, or advocating for the simplification of regulations and procedures, each and every one of us has the power to make a tangible difference. By embracing these actions, we can collectively play an instrumental part in fostering an environment where MSMEs thrive and flourish.

Written by: Emmanuel Moges – Analyst at FedTech