MSME Day 2019 – the day we celebrate micro, small and medium-sized enterprises

Micro, small and medium-sized enterprises – which account for more than 90% of all businesses and around 70% of jobs worldwide – play a pivotal role in stimulating economic growth and providing employment for vulnerable groups such as women, young entrepreneurs, and poor communities.

In 2017, to recognize the importance of micro, small and medium-sized enterprises in promoting innovation, creativity and decent work for all – and achieving the goals of the 2030 Agenda for Sustainable Development – the United Nations General Assembly declared 27 June to be MSME Day by adopting resolution 71/279.

Smaller businesses can be agile in response to a changing world but their size also makes them vulnerable. Access to finance is a primary obstacle. Identifying international market opportunities and navigating trade-related procedures can be harder for small businesses than for their larger competitors. The Sustainable Development Goals (SDGs) of the 2030 Agenda recognized the importance of MSMEs and call for action to improve their access to finance, value chains and markets.

MSME Day 2019 is dedicated to raising awareness of the need for greater investment into small and mid-sized businesses in developing countries but it is also a celebration of the gigantic contribution smaller companies make to the global economy, often away from the spotlight.

As the United Nations entity supporting the internationalization of micro, small and medium-sized enterprises, the International Trade Centre works with partners on a series of events marking MSME Day across the world.

This includes the launch of ITC’s flagship report, the SME Competitiveness Outlook 2019, which this year explores financing for MSMEs under the heading Big Money for Small Business.

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