Formal and Informal Micro-, Small and Medium-Sized Enterprises Make Up 90% of All Firms, Account for 70% of Total Employment and 50% of GDP…

26 June 2021 (United Nations)* — The COVID-19 crisis has taught us that the pandemic and containment measures do not impact everyone in the same way.

Among the private sector, Micro-, Small and Medium-sized Enterprises (MSMEs), especially those led by women, youth, ethnic minorities and migrants, suffered the most.

An International Trade Centre survey on COVID-19 impact among businesses in 136 countries has shown that nearly 62% of women-led small businesses have been strongly affected by the crisis, compared to just over half of firms led by men, and women-owned are 27% more likely not to survive the pandemic.

As governments vaccinate their populations, the world continues to deal with several other challenges that include the ongoing effects of climate change, biodiversity lost, and pollution.

If unabated, these three crises are expected to have severe negative implications for economic growth, human health and ecosystems, employment and livelihoods.

What lessons can we capture from COVID-19 response to ensure that MSMEs are resilient to the looming climate crisis, and are drivers of an inclusive transition towards more sustainable economies?

Formal and informal MSMEs make up over 90% of all firms and account, on average, for 70% of total employment and 50% of GDP. As such, they are key actors in achieving a green recovery.

MSME Day 2021: celebrate the day through collaborative ideas that facilitate business push

The General Assembly declared 27 June Micro-, Small and Medium-sized Enterprises Day, to raise public awareness of their contribution to sustainable development and the global economy.

In 2021, the theme is “MSME 2021: key to an inclusive and sustainable recovery.” That is why the UN will be hosting a series of events to explore how MSMEs – the backbone of our economies – can be equipped to ensure an equitable and sustainable post-COVID-19 recovery.

Join the social media campaign using UN digital assets.

2021 UN Events

As micro, small and medium-sized enterprises emerge stronger from the aftermath of COVID-19, the United Nations and its partners celebrate the pivotal role that these resilient entrepreneurs play in strengthening the global economy.

In order to find inspiration in these difficult times, the United Nations hosts three special events:

• International Trade Center
• MSME Week (OECD)
• ILO’s COVID-19 response: Small and Medium Enterprises and SME resilience
• UNIDO’s COVID-19 response
• The World Bank Small and Medium enterprises finance – and COVID-19 response
• International Council for Small Businesses
• United Nations Conference on Trade and Development
• United Nations Development Programme
• United Nations Global Compact
• SME Finance Forum

• Micro-, Small and Medium-sized Enterprises Day, General Assembly resolution
• 2021 SME Competitiveness Outlook report
• Guidance for MSMEs business recovery in the wake of the COVID-19 pandemic
• 2020 Empretec Women in Business Awards
• 2020 Report of the UN Secretary-General: Entrepreneurship for sustainable development
• ICSB 2021 MSMEs Report
• UNDESA – MSME Policy Report
• SME Competitiveness Report COVID-19: The Great Lockdown and its Impact on Small Business
• Small Matters: Global evidence on the contribution to employment by the self-employed, micro-enterprises and SMEs
• A 10-step tool for a safe and healthy return to work in times of COVID-19
• Global Symposium on the Role of Micro-, Small- and Medium- Enterprises (MSMEs) in the achievement of the Sustainable Development Goals (SDGs)

Micro-, small and medium sized enterprises are vital in achieving the Sustainable Development Goals. They are an important element in the implementation of SDG 8 (decent work and economic growth) and SDG 9 (industry, innovation and infrastructure.)

The International Trade Centre, leading agency of this Observance, is closely following how the pandemic is affecting MSMEs, with a particular focus on those small businesses in developing countries. This dedicated section provides insights, guidance and resources for small businesses, and supports organizations and policymakers. Along with it, the ILO, UNIDO, and the World Bank, among others, join the fight to help these enterprises to cope with the coronavirus’ effects.

From export development to sustainability or e-commerce and export processes, the International Trade Center offers a wide range of courses that can help MSMEs in their growth. Take a look at its varied catalog with training in different languages.

*SOURCE: United Nations. Go to ORIGINAL. 2021 Human Wrongs Watch