The Small Business Gazette

The UN Declaration of the Micro and Small Business (MSMEs) Day, spearheaded by the International Council for Small Business (ICSB), has been a critical milestone in the fulfillment of ICSB’s mission to support entrepreneurs and small business is progressing towards inclusive economic growth. The Declaration, while highlighting the complexity and the multidimensionality of the entrepreneurial role, recognizes the role of MSMEs in the achievement of the UN – Sustainable Development Goals (SDGs).

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.