Every year on June 27, the world observes World MSME Day to recognize the vital role played by Micro, Small, and Medium Enterprises (MSMEs) in driving economic growth, innovation, employment, and sustainable development.

Established by the United Nations in 2017, this day brings global attention to the challenges faced by small businesses and emphasizes the need for inclusive support and policy reforms.

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What Are MSMEs?

MSMEs are businesses that maintain revenues, assets, or employee counts below a certain threshold. They are typically classified into:

-  Micro Enterprises: 1–9 employees

-  Small Enterprises: 10–49 employees

-  Medium Enterprises: 50–249 employees

 Across the world, they represent:

-  90% of businesses

-  50%+ of employment

-  A key share of GDP in both developing and developed economies

In India alone, MSMEs contribute to over 30% of the GDP and 48% of total exports.

Why world MSME day matters

1. Supports Local Economies

MSMEs promote grassroots innovation, entrepreneurship, and self-employment.

2. Addresses Unemployment

Small businesses generate millions of jobs globally, especially for youth and women.

3. Highlights Challenges

MSMEs often face limited access to credit, digital tools, infrastructure, and global markets.

4. Drives Global Collaboration

Encourages governments and institutions to improve ease of doing business and policy support.

2025 Theme: “Empowering MSMEs for a Sustainable Future”

This year’s focus is on how digital transformation, green business practices, and innovation can help MSMEs adapt to global changes and build resilient, future-ready enterprises.

What Needs to Be Done

Governments, investors, and institutions must:

-  Simplify regulatory frameworks

-  Provide easier access to finance

-  Support skill development and digital literacy

-  Promote MSMEs in international trade

 

Conclusion

On World MSME Day, let’s recognize that small businesses are not small in impact. They are the backbone of innovation, inclusion, and progress — and they deserve our collective attention, support, and action.

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