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MSME Day 2024: Established by the UN General Assembly, World MSME Day is observed on June 27 every year with the goal of honoring the significant contribution made by MSMEs to the advancement of equitable and sustainable economic growth both domestically and internationally.
MSME Day 2024: MSMEs, or micro, small, and medium-sized enterprises, are essential to the development and expansion of economies globally. Every year on June 27, MSME Day is observed to honor small businesses, underline their significance, celebrate their contributions, and encourage their expansion and sustainability.
The past of MSME Day in 2024
According to data from the UN, MSMEs constitute the foundation of many economies. They serve as a national and local network for entrepreneurs. They also give young people, those from the working class, women, and others a chance to make money.
These small and medium-sized companies have the ability to stabilize the economy, produce jobs, and eventually completely change economies. In order to encourage and support MSMEs worldwide, the UN established this day.
MSME Day 2024 Theme
Leveraging the strength and resilience of micro, small, and medium-sized enterprises (MSMEs) to advance sustainable development and alleviate poverty in times of multiple crises is the topic of this year's event One of the Sustainable Development Goals (SDGs) that this theme was developed with in mind is the eradication of poverty by 2030.
Numerous nations are facing challenges such constrained budgetary resources, living standards issues, obstacles to obtaining new development and climate finance sources, and conflicts. On this day, individuals can gather together to exchange and discuss various ideas that may eventually lead to the solution of these issues.
Value of the 2024 MSME Day
MSMEs have the power to revolutionize economies, increase employment creation, and foster fair economic growth if they receive the right kind of assistance.
MSMEs are giving our society's most disadvantaged groups financial freedom. According to the information that is currently available, women are employed at a rate of about 24% in MSMEs that are registered, compared to 13.02% in unregistered businesses. Gender equality can be greatly advanced by financial inclusion; data indicates that 80% of women-owned enterprises that must obtain credit are either underfunded or not funded at all, creating a $1.7 trillion funding gap.
Supporting robust supply chains to provide benefits for employees and the environment is another focus of MSME Day. Global trade and industry depend heavily on supply chains, which can be severely impacted by pandemics, natural catastrophes, and conflicts. This raises costs and makes transactions more challenging.
MSME Day 2024: Established by the UN General Assembly, World MSME Day is observed on June 27 every year with the goal of honoring the significant contribution made by MSME
— 🤝Oysis Digital Shop 🪴 (@horo_oysis) June 27, 2024
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