United Nations(UN) Micro-, Small and Medium – Sized Enterprises(MSME) Day is observed annually on 27th June to recognise the contributions of these enterprises to the global economy and sustainable development and their focus on promoting innovation and creativity.
Background:
The United Nations General Assembly(UNGA), designate June 27th as the Micro-, Small and Medium-sized Enterprises Day in the resolution A/RES/71/279 on 6th April 2017.to recognise the need of sustainable business practices and to focus on the importance of micro-, small and medium sized enterprises in achieving the Sustainable Development Goals(SDG) through the implementation of SDG 8 – decent work and economic growth and SDG 9 – industry, innovation and infrastructure.
Events of 2020:
In this pandemic situation due to COVID-19 situation, United Nations hosts three events
- To hear from entrepreneurs across the world the International Trade Center held a WebTV programme on 24th June 2020 and launched the flagship “SME Competitiveness Report COVID-19: The Great Lockdown and its Impact on Small Business”
- “First Responders to Societal Needs”, organized by the United Nations Conference on Trade and Development(UNCTAD), UN’s Department of Economic and Social Affairs(DESA), United Nations Industrial Development Organization (UNIDO), the Permanent Mission of Argentina, and ICSB on 25th June 2020.
- UNCTAD organised a session on MSMEs as Drivers of Post COVID-19 Economic Recovery in Africa on 25th June 2020.
UN Response:
i.The International Trade Centre observes the effects on the pandemic on the MSMEs with a focus on the small businesses in the developing countries.
ii.The International Labour Organization, UNIDO, and the World Bank among the other institutes supports these enterprises to cope with the effects of COVID-19 pandemic.
Note:
According to the International Council for Small Business(ICSB) the formal and informal MSME makes up over 90% of the firms and accounts for about 70% of total employment and 50% of GDP.
About UNCTAD:
Secretary-General- Mukhisa Kituyi
Headquarters– Geneva, Switzerland
