Business big1/8/2024 ![]() ![]() Excellencies, In the just concluded Ocean Conference, many commitments were made in support of small-scale artisanal fishers, who often operate as MSMEs. DESA staff is ready to provide additional details. In this regard, we hope to work with government entities and business associations to enhance training and capacity building support, including through South-South cooperation. As part of these efforts, we intend to organise regional workshops to facilitate exchange of experiences, case studies and capacity building. ![]() We thank the Chinese government for providing funding for this initiative, which is well timed to follow up on the General Assembly resolution on MSME Day.In addition, there will be forthcoming collaboration between DESA and other agencies on enhancing access to finance for MSMEs. Indeed, DESA is proud to support the MSME Day by launching a multi-year project on “enhancing national capacities for unleashing full potentials of micro-, small- and medium-sized enterprises in achieving sustainable development goals in developing countries”. We all have a role to play in this collective enterprise. It is set to galvanize local, national, regional and global actions to support MSMEs. It promises to usher in a new era for MSMEs. ![]() Given these challenges, the decision by the General Assembly to designate 27 June as Micro-, Small and Medium-sized Enterprises Day is of historic significance. Finally, in our desire to encourage enterprises and entrepreneurship, we must not lose sight of the need for companies to adopt sustainable practices. For instance, there are significant gender differences in MSME access to finance, in particular in developing countries. Inadequate support for MSMEs often affects youth and women disproportionately, making it more difficult for them to become successful entrepreneurs. MSMEs also need compliance support and management resources to compete globally, to be part of global supply chains, and to grow into stronger enterprises. Initiatives to enhance access to finance for MSMEs need to go hand in hand with efforts to enhance skills and know-how across enterprises, to promote research and development and to put in place enabling infrastructure such as telecommunications, roads, power and ports. Access to adequate capital is an important condition for promoting entrepreneurship, enterprise formation, sustained economic growth, job creation and productive investment. More than 200 million MSMEs in developing countries lack adequate financing, with the financing gap particularly wide in LDCs. Yet, despite these remarkable contributions, the lack of adequate finance for MSMEs often prevents them from reaching their full potential. They are key allies in implementing the 2030 Agenda and achieving the SDGs. Indeed, in developing and developed countries alike, MSMEs are among the most effective tools to empower youth and women. MSMEs can contribute to nearly all SDGs in one way or another, especially to SDGs on poverty, hunger, health, education, empowerment of women, reducing inequalities, sustainable consumption, institution building and partnerships. Sustainable Development Goal 8, through target 3, calls for efforts to promote development-oriented policies that support productive activities, decent job creation, entrepreneurship, creativity and innovation, and encourage the formalization and growth of micro-, small- and medium-sized enterprises, including through access to financial services. Indeed, the 2030 Agenda for Sustainable Development and the Addis Ababa Action Agenda recognise the important role of MSMEs. While estimates vary, there is converging evidence that highlights the enormous contributions of MSMEs to job creation, income generation, trade and inclusive growth. For many years, I have taken a keen interest in MSMEs. I am delighted to see representatives from Member States, multilateral institutions, civil society, academia and the private sector assembled here to raise awareness of the contribution of MSMEs to sustainable development. I am also grateful that ITC is co-organising this event today and we look forward to closer collaboration with ITC and other organisations in advancing MSMEs. I also want to thank all the co-sponsors for their strong support and the business stakeholder groups for the professional advice they offered on this initiative. Distinguished Delegates,Colleagues,Ladies and Gentlemen, I am honoured and pleased to join you at this first MSME Day Event, very fittingly characterised as “Small Business Big Impact.” I want to start by commending Argentina for its visionary leadership in facilitating the consultations that culminated in the adoption of the General Assembly resolution designating 27 June as Micro-, Small and Medium-sized Enterprises Day. ![]()
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