The SME Finance Forum will celebrate the second annual Micro-, Small and Medium-sized Enterprises Day on June 27 and has been listed as an official resource by the United Nations. In this way, the Forum is explicitly associated with helping achieve the implementation of Sustainable Development Goals 8 (decent work and economic growth) and 9 (industry, innovation and infrastructure).

Last year the United Nations’ General Assembly, recognizing the need to improve small business access to microfinance and credit, decided to designate June 27 as Micro-, Small and Medium-sized Enterprises Day through its resolution A/RES/71/279. The goal is to encourage member states to facilitate observance of the day by increasing awareness and actions to support small business.

Although MSMEs generate the most new jobs, they face many challenges in day-to-day operations and to grow. Access to finance is often cited as one of the primary obstacles that affect MSMEs disproportionately. According to the World Bank, there are 200 to 245 million formal and informal enterprises that do not have a loan or overdraft, but are in need of one, or do have a loan but still find access to finance as a constraint. More than 90 percent are MSMEs.

The General Assembly invites all Member States, organizations of the United Nations system and other international and regional organizations, as well as civil society, including non-governmental organizations, academia, individuals and other relevant stakeholders, to observe the Day in an appropriate manner and in accordance with national priorities, in order to raise public awareness of their contribution to sustainable development.

The SME Finance Forum will continue to celebrate the day through its social media pages. Follow @SMEFinanceForum on Twitter, use the hashtag #MSMEDay18 and join our Linkedin group to stay updated.