The United Nations (UN)’s Micro-, Small and Medium-sized Enterprises(MSME) Day is annually observed across the globe on 27th June to create awareness about the contribution of small businesses to job creation, economic growth and thriving communities.The day also aims to highlight the contribution of MSMEs toward the achievement of the UN Sustainable Development Goals (SDGs).
- 2022 also marks the 5th Anniversary of MSME Day.
- The global celebration of MSME day is led by the International Trade Centre (ITC).
- The first ever MSME day was observed on 27th June 2017.
- MSMEs account for 90 per cent of businesses, 60 to 70 per cent of employment and
50 per cent of GDP worldwide.
Background:
The United Nations General Assembly(UNGA) adopted the resolution A/RES/71/279 on 6th April 2017 and proclaimed the 27th June of every year as the Micro-, Small and Medium-sized Enterprises (MSME) Day.
Events 2022:
The Hybrid event of MSME Day 2022 (combining virtual and in-person participation): under the theme “Resilience and Rebuilding: MSMEs for Sustainable Development at the forefront of building back better and stronger from the impacts of the COVID-19 pandemic, Climate crisis and Conflicts” focuses on how purpose-driven MSMEs and social entrepreneurship contributes to inclusive growth.
- It is jointly organized by the Permanent Mission of Argentina to the United Nations, Department of Economic and Social Affairs(DESA), United Nations Conference on Trade and Development (UNCTAD), International Labour Organization(ILO), ITC, United Nations Industrial Development Organization(UNIDO) and the International Council for Small Business (ICSB).
The event aims to strengthen the capacities of policies and MSME entrepreneurs on challenges and approaches to support MSMEs in the face of the COVID-19 pandemic, climate crisis and conflicts.
MSME and SDGs:
MSMEs are a vital element in the implementation of the SDG 8: Decent Work And Economic Growth and SDG 9: Industry, innovation and infrastructure.
Key Points:
i.According to the recent ILO data, MSME accounts for around 70% of employment across the globe.
ii.SMEs contribute more than 50% of GDP, and some global estimates put this figure as high as 70%.
iii.In the service industry, SMEs account for 60% or more of GDP in all Organisation for Economic Co-operation and Development (OECD) countries.
