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International MSMEs Day 2021: Theme, significance and all you need to know

The theme of Micro-, Small and Medium-sized Enterprises Day theme of 2021 is “MSME 2021: key to an inclusive and sustainable recovery."

 

The United Nations observes Micro, Small, and Medium Enterprises (MSME) day on June 27, every year since 2017 to recognise the contribution of these industries in the implementation of the Sustainable Development Goals (SDGs).

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The General Assembly declared 27 June Micro-, Small and Medium-sized Enterprises Day, to raise public awareness of their contribution to sustainable development and the global economy. The COVID-19 crisis has taught us that the pandemic and containment measures do not impact everyone in the same way. Among the private sector, Micro-, Small and Medium-sized Enterprises (MSMEs), especially those led by women, youth, ethnic minorities, and migrants, suffered the most.

International MSMEs Day 2021: Theme

The theme of the Micro-, Small and Medium-sized Enterprises Day theme of 2021 is "MSME 2021: the 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.

International MSMEs Day 2021: Significance

An International Trade Centre survey on COVID-19 impact among businesses in 136 countries has shown that nearly 62% of women-led small businesses have been strongly affected by the crisis, compared to just over half of firms led by men, and women-owned are 27% more likely not to survive the pandemic.

Formal and informal MSMEs make up over 90% of all firms and account, on average, for 70% of total employment and 50% of GDP. As such, they are key actors in achieving a green recovery.