Micro-, Small and Medium-sized Enterprises Day

Micro-, Small and Medium-sized Enterprises Day

Micro, Small and Medium-sized Enterprises Day is an annual observance that aims to raise public awareness about the significant contributions these types of businesses make to the global economy. The event showcases their importance in local manufacturing, services, international trade, sustainable development, and employment generation. By acknowledging the value of micro, small, and medium-sized enterprises, this observance also sheds light on the many challenges facing these businesses, underscoring the need for proper support and resources to fuel their long-term growth and success.

Established by the United Nations in 2017, the Micro, Small and Medium-sized Enterprises Day holds particular relevance for New Zealand's economic landscape. These businesses are the backbone of the local economy, with small enterprises alone accounting for 26% of New Zealand's GDP and employing nearly a third of the workforce. These enterprises are reflective of the country's entrepreneurial spirit and are often the ones spearheading innovation and the adoption of new technologies. For these reasons, it is crucial for New Zealanders to celebrate and support such enterprises, as their success directly translates to a stable and prosperous future for the country.

In New Zealand, several events and activities seek to honour and empower these enterprises on this special day. Industry associations, government bodies, and local businesses organise seminars, workshops, and networking events that provide valuable insights, opportunities, and knowledge sharing amongst the various stakeholders. This year, Micro, Small and Medium-sized Enterprises Day falls on the 27th of June, offering a unique platform for businesses to network, collaborate, and celebrate their role in shaping the country's economy.

Facts about Micro-, Small and Medium-sized Enterprises Day

• According to the International Council for Small Business (ICSB), formal and informal micro-, small and medium-sized enterprises make up more than 90% of all firms in the world. They also account for 70% of the total employment and 50% of the global gross domestic product (GDP).
• According to the UN, more than 600 million jobs will be needed by 2030 in order to handle the growing global workforce.
• MSMEs are proving to be more resilient and adaptable to economic shifts and market disruptions, being key drivers in ensuring an economy's sustainability. They have shown their mettle during the economic downturns and the ongoing COVID-19 pandemic.
• A significant part of the MSME landscape in New Zealand is made up of self-employed individuals, accounting for approximately 70% of all businesses.
• Small and medium-sized enterprises account for around 30% of New Zealand's total exports.

In the News and Trending in NZ for Micro-, Small and Medium-sized Enterprises Day

Top things to do in NZ for this observance

• Learn more about the power of micro-, small and medium-sized enterprises .
• Discover 5 things SMEs need to survive.
• Learn more about Maori or Pasifika-owned businesses and support their products and services.
• Attend trade fairs, exhibitions, and expos that showcase small and medium-sized enterprises, such as the New Zealand Gift & Homeware Fairs or the Canterbury Home Show.