Small businesses and freelancers make up 90% of all businesses and 50% of GDP in the world. Not only that, but they also create jobs for 60 to 70% of the workforce.
Micro-, small and medium-sized enterprises (MSMEs) play an essential role in shaping a better future both locally and globally, but their contributions are often overlooked. Despite their small size, these businesses and their entrepreneurial leaders are instrumental in driving innovation, creating employment opportunities, and fostering economic growth in the communities they serve.
Credico takes pride in celebrating MSME Day today as it recognizes the valuable contributions small businesses make to our communities and the world. This day also serves as an opportunity to discover ways to support and enhance these businesses, allowing them to thrive and prosper.
On June 27, 2017, the first MSME Day was celebrated. The United Nations General Assembly established this day based on the belief that these enterprises are crucial in achieving the Sustainable Development Goals (SDGs). Established in 2015, the SDGs comprise 17 connected targeted objectives that serve as a “shared blueprint for peace and prosperity for people and the planet, now and in the future.” MSMEs are particularly important to accomplishing SDG 8, “decent work and economic growth,” and SDG 9, “industry, innovation, and infrastructure.”
Small and medium-sized enterprise (MSME) development is crucial in today’s world. The World Bank predicts that the growing global workforce will require 600 million jobs by 2030, and MSMEs are responsible for creating the most formal jobs in emerging markets. This means that MSMEs supply 7 out of 10 opportunities for individuals to provide for themselves and their families. However, access to financing is often challenging for smaller businesses, particularly in underdeveloped countries. Therefore, MSME Day serves as a call to action for governments to support MSMEs and promote the entrepreneurial spirit through collaboration and empowerment.
Credico, a company founded by a driven Lebanese entrepreneur, is dedicated to improving revenue and streamlining the outsourced sales process for businesses. At the heart of our origin story lies a deep-seated desire to make a positive difference in the lives of our clients, employees, and communities. We firmly believe in the power of entrepreneurship as a tool for empowering individuals from all backgrounds and walks of life, and we strive to embody this philosophy in everything we do.
For more than three decades, we have been and will always be entrepreneurs, collaborators, and doers. Entrepreneurs who stay hungry and strive for results in every project we tackle and are committed to paying it forward in our communities every chance we get. Collaborators who understand that we are always more than the sum of our parts and who are advancing together in true partnership to provide business results for a better tomorrow. Doers who embrace the change in the world and do so by staying agile and innovating around every corner.
Every day, we celebrate MSME Day and show appreciation for the countless entrepreneurs working tirelessly to bring their vision to life. It’s a special day for us because it recognizes the importance of having a strong entrepreneurial spirit and the courage to run a small business. Moreover, it emphasizes the tremendous impact that small and medium-sized enterprises have on the global economy, both in the past, present, and future.