UN Adopts Resolution Designating Micro-, Small and Medium-sized Enterprises International Day

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ICSB supports UN initiative to boost recognition and finance for small business as key engine for job creation and sustainable growth.

Dr. Ayman El Tarabishy, ICSB Executive Director; Guido Crilchuk, Second Secretary, Second Committee; and Dr. Winslow –Sargeant, ICSB VP Development ICSB

Dr. El Tarabishy reported that, "It is estimated that 600 million more jobs will be needed in the next 15 years, especially in Africa and Asia, and small business will absorb this growing workforce."

The United Nations General Assembly today adopted a resolution recognizing the crucial role Micro-, Small, and Medium Enterprises (MSMEs) play in achieving the 2030 Agenda for Sustainable Development.

Today’s resolution (A/71/L.60) designates June 27 as “Micro-, Small and Medium-sized Enterprises Day.”

Following the International Council for Small Business (ICSB) 2016 World Conference Declaration on the urgent need to recognize MSMEs’ role in global development, the Permanent Mission of Argentina to the United Nations, with support from ICSB, authored the resolution that was presented to and negotiated with all UN member states. The resolution was co-sponsored by 45 member states, representing over 5 billion people.

Since the adoption of the 2030 Agenda, all countries have been working for its implementation, aiming to ensure that every actor can contribute in the best possible way. Micro-, Small and Medium-sized Enterprises have the potential to make a long-lasting positive impact on global development needs, since they are the engine for economic growth and job creation, accounting for two out of three net new jobs created worldwide.

ICSB Executive Director, Dr. Ayman El Tarabishy, warmly welcomed the adoption of the resolution noting that, “It is estimated that 600 million more jobs will be needed in the next 15 years, especially in Africa and Asia, and small business will absorb this growing workforce. ICSB is glad to see the organization’s mission of empowering small business reach worldwide distinction. This action reaffirms that member states in every region of the world recognize the vital role MSMEs play in driving sustainable livelihoods and creating a vibrant global economy.”

The resolution recognizes the need to improve small business access to microfinance and credit, and also encourages member states to facilitate observance of the day by increasing awareness and actions to support small business.

Following the adoption of the small business resolution, ICSB will also host an official knowledge summit and launch event at UN headquarters on May 11th. ICSB has established a fund to support research and community projects that maximize the economic contributions of small businesses, and provide seed funding for projects designed to promote development worldwide.

Founded in 1955, the International Council for Small Business (ICSB) was the first international membership organization to promote the growth and development of small businesses worldwide. The organization brings together educators, researchers, policy-makers and practitioners from around the world to share knowledge and expertise in their respective fields. The ICSB is a non-profit organization, for more information visit https://www.icsb.org.

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