The premier global platform in support of Small and Medium-sized Enterprises
The International Council for Small Business (ICSB) is a non-profit organization devoted to continuing management education for entrepreneurs and small business. Founded in 1955, the International Council for Small Business (ICSB) was the first international membership organization to promote the growth and development of small businesses worldwide. The organization brings together educators, researchers, policy-makers and practitioners from around the world to share knowledge and expertise in their respective fields through publications, programs, workshops, training sessions and certifications.
2020 and a dawn of a new decade welcome MSMEs with many exciting opportunities for growth and prosperity, yet it comes with hazards and challenges. Recognized globally for their contributions to innovation and improving economic conditions, MSMEs are the number one job creators across the world.
Last year, ICSB reported that one of the biggest challenges inhibiting the growth of MSMEs was not technology or macro-level issues but with the entrepreneur or small business owner and the power of belief or the lack thereof. Other trends on the 2019’s covered common prevailing topics like the impact that the world’s 1.8 billion youth have on the economy. The population of young people (ages 10 to 24) in the world is at an all-time high.
The other major issue projected in 2019 was that global trade wars will have a major impact on MSMEs. The gloves have come off between the two largest economies in the world, and the imposition of tariffs by each country has plunged the world economy into turmoil.
For 2020, we see major trends continuing yet with three new remarkable changes to the landscape for MSMEs. It is astonishing what a difference a year makes! Here are ICSB’s 2020 Top Ten Trends for MSMEs: Please scroll down to read the Top Ten Trends
The importance of micro-, small, and medium-sized enterprises (MSMEs) in national economies is well known, as well as is their global impact, since, by number, they dominate the world business stage. But notwithstanding the wide acknowledgment of MSMEs’importance to national economies, they still face difficulties that need to be addressed, such as informality, low productivity, and limited access to finance. When Argentina, with the support of the International Council for Small Business (ICSB), decided in 2017 to present a resolution to the General Assembly of the United Nations establishing June 27 as MSMEs Day, the idea behind it was to showcase the importance of these enterprises in the achievement of the 2030 Agenda for Sustainable Development and raise awareness about the difficulties these enterprises face.
Restructuring for Resilience: Europe Post COVID-19Monday, June, 15, 2020 Restructuring for Resilience: Europe Post COVID-19Monday, June, 15, 2020 How can Europe Restructure to overcome COVID-19? As the peak day approaches on April 19th, Europe begins to look past the...
True Equitable Embodiment Monday, June, 8, 2020 True Equitable Embodiment Monday, June, 8, 2020 We are living through a revolution towards cohesion As protesters line the streets of every major city, I can not help but hear the cry for a just and green economy. All...
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.
The International Council for Small Business announces the theme and start of the Celebration of and Action for Micro, Small and Medium-sized Enterprises on 27 June
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.
US Senator Marco Rubio, Addresses MSME DayTuesday, June, 23, 2020
A Tribute to Professor David SmallboneThursday, April 9, 2020 A Tribute to Professor David SmallboneThursday, April 9, 2020 A Tribute to Professor David SmallboneObituary; Professor David SmallboneWe are sad to announce that Professor David Smallbone passed away...
World Business Report: 25% of US small businesses could close Tuesday April, 7, 2020 by BBC World Report World Business Report: 25% of US small businesses could close Tuesday April, 7, 2020 by BBC World Report Blind Optimism for the Unforeseeable FutureThe BBC World...
A Salute to Health Care Providers Friday, April 3, 2020 A Salute to Health Care Providers Friday, April 3, 2020 Dear Health Care Providers,Thank you.Of all the words I could think of to start this letter to you, those had to be the first. Yet those words seem so pale...
The 2030 Agenda for Sustainable Development, adopted by the United Nations in 2015, addresses the most pressing challenges of our time, such as climate change and COVID-19, social injustice, human rights, and economic growth. Incorporating the sustainable development goals (SDGs) into society’s fabric is essential for just and equitable sustainable development for all. The SDGs purpose is to stimulate everyone, from governments, businesses, NGOs, citizens, and other stakeholders, to accelerate actions that benefit the people and the planet, by fostering actions and partnerships at all levels, so no one is left behind. And since MSMEs are the foundation of our economies and society, they are at the critical leading edge of the UN’s sustainable development initiative.