Here at Creative Nature, we’re very proud of our small business and have worked hard as a team to sustain it – and at the beginning of Covid 19 we were very scared and worried about how things would pan out for us – and for others.
To date, by working hard and pulling together as a team, we’re still going and have seen a significant growth in online sales – particularly of our popular baking mixes (insert link).
Therefore it seems apt this week to mark on Saturday June 27, the United Nation’s Micro, Small and Medium Enterprises (MSME) Day . When you are caught up in the pandemic it’s easy to just focus on your own business and not reflect on the reality that businesses have been affected globally.
Also it’s important to remind ourselves that while one small business may employ just one person –as a collective we are powerful. According to the UN MSMEs make up over 90% of all firms and account, on average, for 70% of total employment and 50% of GDP. Therefore it’s clear that we make a huge and vital contribution to sustainable development and the global economy.
In fact the UN goes much further. It believes SMEs are critical for the future as around 600 million new jobs will be needed to cope with the predicted global workforce by 2030 – and it will be small and micro sized businesses which will be critical to meeting that need. In emerging markets, it’s this sector which will provide seven out of ten jobs. Also the UN believes increasing annual investments of $1 trillion would bring about disproportionate dividends towards more sustainable development goals.
Small businesses, including those run by women and young entrepreneurs, are being hit hardest by the pandemic and more vulnerable than bigger enterprise with fewer cash reserves. Restrictions have led to supply chain disruptions and a significant or total drop in demand in many sectors.
The UN has declared that small businesses depend on an ‘enabling’ business environment, and need support to access to finance, information, and markets. The organisation has said that companies like Creative Nature are “the backbone of most economies worldwide and play a key role in developing countries”.
In order to find inspiration in these difficult times, the United Nations is hosting two events this week to inspire and raise awareness.
For the first one, the International Trade Centre is holding a WebTV programme on 24 June, to hear from entrepreneurs from across the world, as well as from those who support small-business responses to COVID-19. The event will launch the flagship “SME Competitiveness Report COVID-19: The Great Lockdown and its Impact on Small Business,” a new report with data and analysis.
The second virtual event takes place on June 25 and is called , “First Responders to Societal Needs“, and is organised by the Permanent Mission of Argentina, DESA, and UNCTAD.
*To find out more on these event visit https://www.un.org/en/observances/micro-small-medium-businesses-day