MSMEs make the economic world go round
business in some way?
There are 500 million micro, small and medium-sized enterprises (MSMEs) in the world. That means nine out of every 10 companies are privately owned MSMEs. From the toothbrush you use in the morning to the rice you cook at night, a small business was almost certainly involved in its production or distribution.
‘When you buy from a small business, an actual person does a happy dance’ is a funny, yet very accurate statement. Behind every product is an actual person who has spent time and energy to produce it and deliver it to you.
The International Trade Centre (ITC) works to help small businesses in developing countries and economies in transition become more competitive and connect to international markets. This creates job opportunities and raises incomes, especially for youth, women and poor communities.
‘ITC helped me to take my business
global,’ says Shana from Indonesia. ‘I met
new international partners and clients and
I have been able to introduce the magical
Komodo National Park to the world.’
She and many other MSME owners in developing countries have benefited from ITC support, which aims to make trade more inclusive and sustainable.