Modest in size, but mighty in impact, micro, small and medium-sized enterprises (MSME) account for around two-thirds of global employment.
To promote the growth of MSMEs and to bring awareness to their valuable contribution to sustainable development goals (think ending poverty, promoting education and clean water), the United Nations’ General Assembly has declared June 27th as Global Micro, Small and Medium-sized Enterprises Day.
How big are MSMEs?
These enterprises employ between 10 to 250 employees.
Enterprises of 10 or fewer employees are referred to as “micro”, and these make up 93% of all enterprises in the non-financial business sector—talk about a large-scale impact!
Why do we at SumUp care about them?
Empowering merchants with our affordable payment platform has led to MSMEs comprising the largest majority of our merchants.
MSMEs are the backbone of our economy as they make up 99% of all enterprises in any given country.
MSMEs offer a safe space for creativity and innovation.
SumUp was once an MSME, so we have an idea about all of the daily hard work required.
What does Global Micro, Small and Medium-sized Enterprises Day do to promote MSMEs?
Greater participation and growth within the international, regional and national markets.
Access to affordable microfinance and credit services.
Research, policy discussions and relevant workshops for MSMEs’ advancement.
Once policymakers and those in the private sector begin to grant MSMEs greater access to financial services and offer them support within public policies, MSMEs will be empowered to grow, and therefore, will fortify the local economy and further sustainable development on a larger scale.
This is why SumUp would like to honour our MSMEs and recognize the significant role you play in making our world a better place. Thank you!
If you’re an MSME SumUp merchant, give us a shout out by dropping an email to firstname.lastname@example.org. We’d love to hear from you. We’re currently collecting stories like this one about SumUp merchants who dare to make their business dreams a reality.