Waterloo, ON, June 27, 2019 – Today, MEDA is proud to commemorate the United Nations’ Micro-, Small and Medium-sized Enterprises Day. This day was chosen by the United Nations General Assembly to recognize the importance of micro, small and medium enterprises (MSME) to local and global economies in addition to their contribution to sustainable economic development.
“According to the data provided by the International Council for Small Business (ICSB), formal and informal MSMEs make up over 90% of all firms and account on average for 60 – 70% of total employment and 50% of GDP” (UN, 2019).
MEDA understands that MSMEs are catalysts for local development and provide the foundation for local and national economies. While their size affords flexibility in response to an unstable world, many MSMEs have limited access to markets, are vulnerable to climate change and operate in volatile economies. Equipped with expertise and resources, MEDA partners with MSMEs around the world to forge market linkages and provide training, technical support, financial services and more.
Since 1953, MEDA has recognized the vital role MSMEs play in local and global economies. MEDA is proud to facilitate long-term impact through investment and advisory services for clients to help their businesses become sustainable and scalable. MEDA recognizes the importance of MSMEs around and is honoured to participate in the celebration of these businesses and their contribution to international development and sustainable livelihoods.