Excellencies,
Ladies and Gentlemen,
This event to observe the Micro-, Small and Medium-sized Enterprises Day is very timely. The international community is calling for urgent, targeted action to implement the ambitious 2030 Agenda for Sustainable Development and the Sustainable Development Goals. This will require the full participation of all stakeholders, including small business enterprises.
This year’s observance focuses on the important topic of responding to the COVID-19 pandemic. Particularly, those efforts being implemented by countries to address the economic crisis, avoid a depression, begin a sustained economic recovery and minimize the negative effects on livelihoods.
Across the world, micro-, small and medium-sized enterprises (MSMEs) comprise the major share of business entities. They are a major contributor to economic growth and a source of employment and livelihood opportunities, particularly for vulnerable groups of the population.
They also promote innovation by providing opportunities for up-and-coming entrepreneurs to manufacture new products, boosting business competition and fueling growth.
Hence, protecting and strengthening the resilience of MSMEs – including women-led businesses – has become one of the key action areas of the United Nations Framework for the Immediate Socio-Economic Response to COVID-19.
I am confident that MSMEs can be effective first responders to the unfolding health, economic and social crisis, and in the process contribute to the recovery of the global economy. Small enterprises can also play an important role in combating worsening economic and social inequalities within and between countries.
But for these enterprises to effectively contribute to economic recovery and combat inequality, they need to benefit from fiscal stimulus packages and supportive monetary policies that have been rolled out, including access to credit.
Bailouts and support measures should not only assist big corporations and medium-sized enter¬prises, but also micro- and small businesses, where women and youth entrepreneurs are more represented.
Simply put, we cannot recover together or build more sustainable, peaceful, just, equitable, inclusive and resilient societies where no one is left behind, if we fail to protect and strengthen the resilience of small enterprises.
For these enterprises to contribute to the Decade of Action to Deliver the SDGs, they need improved access to markets and technology. Governments should also improve the ease of doing business by reducing or eliminating cumbersome rules and procedures for establishing new enterprises.
And as the world moves from the emergency response to recovery phase of the Covid-19 pandemic, it is also critical to reflect on solutions that improve MSMEs resilience.
In this regard, the United Nations system plays an important role in strengthening the global ecosystem for strengthening MSME resilience. The establishment of the Response and Recovery Fund by the United Nations Secretary-General to support low- and middle-income countries overcome the economic and health challenges caused by the COVID-19 pandemic – is an important first step.
Going forward, more can be done to unlock the potential of partnerships for an inclusive future where no one will be left behind.
Ladies and gentlemen,
As we celebrate Micro-, Small and Medium-sized Enterprises Day this year, let us continue to highlight the important role of small businesses. Not only as engines for job creation, but also as the source of hope and confidence for a better and more inclusive future.
Thank you.