GLOBAL SUSTAINABLE DEVELOPMENT SUMMIT 2022/

Sustainable development is a guiding principle for achieving human development goals while preserving natural systems’ capacity to provide the natural resources and ecosystem services that the economy and society rely on.

While micro, small, and medium-sized businesses (MSMEs) may appear small in comparison to large corporations, they have a significant impact on employment, economic growth, and sustainability. In general, SMEs outnumber large corporations while contributing significantly to global economic growth and job creation, particularly in developing countries.

According to World Bank data, SMEs account for approximately 90% of businesses and 50% of global Gross Domestic Product. Additional calculations by the World Bank indicate that SMEs have the potential to generate the 600 million jobs required to absorb the global workforce by 2030.