Upon spending time considering and analyzing the pre-existing conditions, especially those that have been exploited due to the stress of COVID-19, at our MSMEs Day Celebration today, we feel prepared to continue the conversation.

To dive deeper into the individual facets of MSME realities, we must create platforms that uplift and highlight MSMEs. We are beyond excited to announce that we will have released our 2020 ICSB Global MSMEs Report. This compilation not only expands our discussion, but it also provides us with a physical representation of our community. Within the pages of the Global MSMEs Report, our community’s members share their stories, be that in the form of their research or their experience. This report represents the true diversity and uniqueness in entrepreneurial activity and small business perspectives dependent on location.

Micro, small and medium size enterprises (MSMEs) represent around
70 per cent of global employment and provide essential opportunities, often for
the most vulnerable, including women and youth. They also make up nearly half of the GDP in developing countries, playing a critical role in advancing shared prosperity.

Celebration of and Action for Micro, Small and Medium-Sized Enterprises

Micro, Small, and Medium-Sized Enterprises (MSMEs) Day are a United Nations Name Day, which was established in 2017. The day, June 27th is meant to demonstrate global support of MSMEs. MSMEs are the most significant contributors to local and global economies. However, they are often much forgotten and oppressed by restrictive policies and unsupported responses in times of need. MSMEs Day seeks to be both a moment of applause for the work that MSMEs do and a moment to gather for future planning to better promote the smaller economic units in the world.

We need to ensure that the entrepreneurial base grows and that the jobs become more diverse

In acknowledging the global changes due to the unforeseen events over the past few months, Prince Constantijn van Oranje spoke about the societal and economic shifts that have taken place resulting from the COVID-19 pandemic. Having been personally and professionally affected, Prince Constantijn holds the unique perspective in seeing both the positive outcomes and painful truths that these past few months have revealed. In responding to the onset of the lockdown and the COVID-19 pandemic, Prince Constantijn and his team immediately saw the need to “pivot” their strategy. Upon the crisis’ onset, they surveyed the startup ecosystem to be able to see clearly and more fully understand the ecosystem’s needs and its views of the perceived economic and financial impact that the pandemic and shut down would likely produce. (Read More)

Challenging us to “re-think” everything, Norris Krueger spent time with us on Thursday afternoon instead of his usual time spent generating the next best entrepreneurial theory. Sitting in the “hot seat,” Krueger is considered the Nikola Tesla of entrepreneurship research today. His presentation demanded that we re-think our mindsets, ecosystems, and methods, in addition to re-thinking why we are necessitating this re-think.

As protesters line the streets of every major city, I can not help but hear the cry for a just and green economy. All over the world, people are looking at the old and stagnant economic system of the past and recognizing the absence of its place in this new normal. This new normal, instead, invites an economy generated by and for the people, and I see humane entrepreneurs as the leaders of this movement.

The past few months of working from dining tables, couches and beds have taken their toll on novice telecommuters. With many of us settling in for the long haul — told to stay home until at least Labor Day or, like some Facebook and Twitter workers, permanently — the makeshift office hacks of the coronavirus shutdown are getting old. America’s backs and necks are suffering.

The WTO Secretariat has published an information note looking at how micro, small and medium-sized enterprises (MSMEs) are being affected by the COVID-19 pandemic. It notes the impact of supply chain disruptions on MSMEs and the extent to which smaller businesses are represented in the economic sectors hardest hit by the crisis.