Every year on June 27th, Micro-, Small and Medium-Sized Enterprises Day raises awareness for the important role different sized enterprises play in meeting the United Nation’s Sustainable Development Goals.
There are two classes of micro-, small and medium-sized enterprises. These classes include manufacturing enterprises and service enterprises. Businesses are further broken down according to how much money they invest in their manufacturing plant, machinery, and equipment. According to recent estimates, more than 95% of global enterprises are micro-, small and medium-sized. These companies account for 60% of private-sector employment. Additionally, these enterprises make up 50% of GDP.
In 2015, the UN General Assembly developed 17 global goals that they called Sustainable Development Goals. The purpose of the goals is to achieve a better and more sustainable future for all. The UN also hopes to achieve these goals by 2030.
On April 6, 2017, the UN General Assembly adopted a resolution to designate June 27th as Micro-, Small and Medium-sized Enterprises Day. The resolution was co-sponsored by 54 member states, representing over 5 billion people. The UN has appointed the International Trade Centre as the leading agency for this observance.
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.
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