Micro Small and Medium Sized Enterprises Day 2024

Table of content

Micro Small and Medium Sized Enterprises Day 2024

Micro, Small, and Medium-Sized Enterprise (MSME) Day, observed on 27 June, is a special day to appreciate small businesses that employ 250 people or fewer. These businesses are super important because they make up more than 90% of all businesses globally and provide jobs for about 70% of people. Surprisingly, they also contribute half of the world’s total economic output.

Download August 2024 BOLT PDF (Current Affairs)

The United Nations Initiative

The United Nations General Assembly started MSME Day to help people understand how crucial these small businesses are for our communities and the world economy. The day also aims to make sure these businesses can survive tough times.

History of Micro Small and Medium Sized Enterprises Day

Small businesses are not just about making money; they are vital for creating jobs, reducing poverty, and encouraging new ideas. The World Bank and the U.N. call them SMEs. In 2006, special rules were made to support these businesses, dividing them into two types — those that make things and those that provide services.

UN Events in 2021

In 2021, the United Nations organized three events to show how important these small businesses are for making the world economy stronger. One event, called ‘Empowering the Green Recovery,’ talked about how small businesses can survive tough times. Entrepreneurs from different countries like Argentina, Ghana, Indonesia, Kenya, and Senegal joined in.

The Future of SMEs

By the year 2030, we will need 600 million more jobs because more people will be working. This makes small businesses a big focus for governments worldwide. They are the ones creating most of the jobs, with seven out of ten coming from them. In the U.S., almost all the things we sell to other countries (98%) are made by small businesses.

Why Micro Small and Medium Sized Enterprises Day Matters

Supporting Local Business

Small businesses help our neighborhoods by creating a demand for local services, making our communities better.

Opportunities for Growth

These businesses not only give people jobs but also help them make money, reducing poverty and making our economies stronger.

Creating Awareness

On MSME Day, we want everyone to know how awesome these small businesses are and how much they’ve achieved in the market.

In summary, Micro, Small, and Medium-Sized Enterprise Day is a special time to recognize and celebrate the small businesses that do so much for our world. As we celebrate them, let’s remember to support and take care of these businesses for a brighter and more successful future.

27th June 2024 Special Day

Micro, Small, and Medium-Sized Enterprise (MSME) Day on June 27 is a chance to celebrate small businesses. This special day honors the hard work of companies with less than 250 employees. Even though they are small, these businesses give jobs to most people. They also help local economies around the world. MSME Day shows how important small companies are. It gives hope that new ideas can grow into successful businesses. This day inspires entrepreneurs to keep reaching for their dreams. By supporting small businesses on June 27, we look forward to a future where everyone has the chance to prosper.

Priti Palit

Priti Palit, an accomplished edtech writer, boasts a wealth of experience in preparing candidates for multiple government exams. With a passion for education and a keen eye for detail, she has contributed significantly to the field of online learning. Priti’s expertise and dedication continue to empower aspiring individuals in their pursuit of success in government examinations.

Oliveboard Live Courses & Mock Test Series