On June 27, at the initiative of the UN General Assembly, it was determined as Day of micro, small and medium enterprises. The holiday has been celebrated annually since 2017. On this day, the UN invites all member states, civil society, international and regional organizations to celebrate this day in order to raise public awareness of the contribution of small businesses to ensuring sustainable development.

The purpose of the Day of Micro, Small and Medium Enterprises

The main purpose of the celebration is to emphasize the important role of micro, small and medium-sized enterprises in the economic development of any country. Recognizing this fact and the importance of principles responsible entrepreneurship, the UN calls on states to encourage entrepreneurs who “bring their businesses out of the shadows” and officially register them. It is proposed to provide them with access to investment projects and lending on preferential terms. The development of international cooperation between micro, small and medium-sized enterprises of different countries is important.

• According to the data of the International Agency for Small Enterprises, about 90% of all enterprises in which 70% of the working population are employed belong to the category of micro, small and medium-sized enterprises. They account for about 50% of world GDP. That is why in most countries the support of small business is the primary task of economic development.