family holding up SDG goals posters in small shop
Through resilience and creativity, the Garay family in Peru started a new baked goods business after they closed their minimarket due to the pandemic.
Photo:UNDP Peru/Jasmin Ramirez Romero

2024 Theme: MSMEs and the SDGs

Leveraging the Power and Resilience of Micro-, Small and Medium-sized Enterprises (MSMEs) to Accelerate Sustainable Development and Eradicate Poverty in Times of Multiple Crises

As we commemorate the 2024 International MSME Day, we are just six years away from the 2030 deadline to achieve the Sustainable Development Goals (SDGs), and progress is lagging. Many countries continue to face a range of unique and interconnected development challenges that include a cost-of-living crisis, constrained fiscal space, obstacles to accessing new sources of development and climate financing, and conflicts. Economic, social and environmental challenges are compounding mounting poverty and hunger.

The 2024 MSME Day offers an opportunity to discuss and exchange ideas on how key stakeholders, including policy makers, large companies, financial institutions, and the international community can support micro-, small and medium-sized businesses to advance the 2030 Agenda and contribute to achieving the SDGs, including poverty eradication and decent work for all.

2024 Event in New York

27 June 2024
UNHQ, Conference Room 5
10:00 AM - 12:00 PM EDT

The session will explore ways that MSMEs, a sector that represents over 90 per cent of all businesses globally, can meaningfully contribute innovative solutions to the challenges of our time and drive forward inclusive growth and shared prosperity.

Concept Note for NY event
Programme for NY event
Watch the event on UN WebTV

Human-Centered Impact: Advancing the UN SDGs through MSMEs

As we steer our ship into a new development course in a changing world, the importance of Micro, Small, and Medium Enterprises (MSMEs) and the circular economy is crystal clear. MSMEs, which account for 90% of businesses, more than 70% of employment, and 50% of GDP worldwide, remain the core of the economy for most societies.

A human-centered approach is central to the evolving 'circular economy,' emphasizing the importance of individuals and communities in driving sustainable transformation. Considering people's well-being and prioritizing inclusive participation ensures that new systems align and contextualize local culture and personal/institutional needs.

2024 Event in Geneva

27 June 2024
ILO Governing body room (morning)
Palais des Nations, room XVII (afternoon)
10:00 - 18:00 CEST

Concept Note for Geneva event
Programme for Geneva event
Watch the morning session at the ILO (10:00-13:00 CET)
Watch the afternoon session at the UN (15:00-18:00 CET)

Background

MSMEs account for 90% of businesses, 60 to 70% of employment and 50% of GDP worldwide. As the backbone of societies everywhere they contribute to local and national economies and to sustaining livelihoods, in particular among the working poor, women, youth, and groups in vulnerable situations.

MSMEs hold the potential to transform economies, foster job creation, and promote equitable economic growth if given adequate support. The MSME Day event aims to highlight their pivotal role and explore opportunities for their further advancement.

The United Nations General Assembly designated 27 June as “Micro-, Small, and Medium-sized Enterprises Day” (A/RES/71/279) to raise awareness of the tremendous contributions of MSMEs to the achievement of the United Nations Sustainable Development Goals (SDGs).

Did you know?

  • 600 million jobs will be needed by 2030 to absorb the growing global workforce, which makes SME development a high priority for many governments around the world.
  • In emerging markets, most formal jobs are generated by SMEs, which create 7 out of 10 jobs.
  • Access to finance is disproportionately difficult for smaller firms in the least developed countries (LDCs), with 41 percent of SMEs in LDCs reporting access to finance as a major constraint to their growth and development, by comparison to 30 percent in middle-income countries (MICs) and only 15 percent in high-income countries (HICs).

Source: World Bank

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Goal 8 logo Decent Work and Economic Growth

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.)

an abstract illustration of people engaged in an event

International days and weeks are occasions to educate the public on issues of concern, to mobilize political will and resources to address global problems, and to celebrate and reinforce achievements of humanity. The existence of international days predates the establishment of the United Nations, but the UN has embraced them as a powerful advocacy tool. We also mark other UN observances.