28 Jun 2023
The focus of this 6th edition of MSMEs Day has been on galvanizinng MSMes worldwide by supporting women and youth entrepreneurship and resilient supply chains.
The United Nations General Assembly designated 27 June as "Micro-, Small, and Medium-sized Enterprises Day" to raise awareness of the tremendous contributions of micro-,small and medium-sized enterprises (MSMEs) to the achievement of the United Nations Sustainable Development Goals (SDGs). 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.
The focus of this edition wanted to galvanize MSMEs worlwide by supporting women and youth entrepreneurship. Two specific topics dear to the HEG-FR dean, Rico Baldegger. "As a dean, business angel and board member of venture funds in Switzerland, the role of women entrepreneurs in the society and the related ecosystems is of a professional interest to me," introduced Rico Baldegger.
"What should we do better in the future? Firstly we should invest more in celebrating successful #womenentrepreneurs as role models. Clearly role models are important for entrepreneurs and for the young generation", Rico Baldegger #MSMEsDay pic.twitter.com/CaIQgMzbhb
— HEG-FR / HSW-FR (@HEG_FR) June 28, 2023
Among the most vulnerable, women- and youth-owned enterprises are often at risk of external shocks. This is when the percentage and overall number of business formations by women and youth are increasing worldwide. However, facing limited access to affordable finance, capacity-building support, partnership networks, and global markets, women and young entrepreneurs need help to overcome the numerous challenges that frequently stifle the growth of their businesses, confining many of them to informality or necessity entrepreneurship.
Watch Rico Baldegger's speech at MSME Day in New York
About MSMEs Day
The International MSMEs Day, observed on June 27th every year, provides an opportunity to highlight the crucial role of MSMEs in sustainable development and advocate for policies that support their growth. The United Nations General Assembly designated June 27th as the International Day for MSMEs in recognition of the importance of MSMEs in promoting economic growth and job creation. Argentina proposed the Day with the International Council for Small Business (ICSB).