Economy
UN General Assembly creates International Day for small, medium-sized enterprises

Just Earth News 07 Apr 2017

UN General Assembly creates International Day for small, medium-sized enterprises
New York, Apr 7(Just Earth News): Recognizing the importance of micro-, small- and medium-sized enterprises in achieving the new global development goals, the United Nations General Assembly on Thursday designated 27 June as International Day for those actors.

In a resolution adopted without a vote, the 193-member body also invited all stakeholders, including Member States, UN entities and civil society organizations, to observe the Day and raise public awareness of their contribution to the 2030 Agenda for Sustainable Development, which the Assembly adopted in September 2015.

The resolution was introduced by the delegation of Argentina, with its representative stating that more than 95 per cent of enterprises in the world are micro-, small- and medium-sized and they account for about 70 per cent of private sector employment.

“These enterprises can in fact become the engines that sustain growth for long-term development in developing countries,” the representative said, thanking the contribution made by the International Council for Small Business (ICSB) to the creation of the Day.

ICSB held its 71st Annual World Conference here at United Nations last year, in which authorities from over 55 countries participated. In that occasion, ICSB made a declaration about the urgent need to have a day to recognize the important role of micro, small, and medium enterprises in the development of economies as a whole.