Micro, Small and Medium-sized Enterprises Day: Know history, significance
This year, the UN and its partners celebrate the important role that the entrepreneurs play in strengthening the global economy.
Micro, Small and Medium-sized Enterprises (MSMEs) Day is celebrated every year on June 27 to recognise the contribution of these industries in the implementation of the Sustainable Development Goals (SDGs). According to the United Nations (UN), as many as 90 per cent of businesses are generated from MSMEs and these businesses provide 60 to 70 per cent of employment. The contribution of MSME to Gross Domestic Product (GDP) worldwide is 50%.
This year, the UN and its partners celebrate the important role that the entrepreneurs play in strengthening the global economy.
History of Micro, Small and Medium-sized Enterprises Day
The UN designated June 27 as Micro, Small and Medium-sized Enterprises Day through a resolution passed in the UN General Assembly in April 2017. In May 2017, a program titled 'Enhancing National Capacities for Unleashing Full Potentials of MSMEs in Achieving the SDGs in Developing Countries' was launched. It has been funded by the 2030 Agenda for Sustainable Development Sub-Fund of the United Nations Peace and Development Fund.
Significance of Micro, Small and Medium-sized Enterprises Day
The UN wants countries to recognise sustainable development goals and create awareness about them.
Theme of Micro, Small and Medium-sized Enterprises Day
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.