Updated: Sep 6
✦ For big impact, support your local small business
The United Nations General Assembly designated June 27th as 'Micro-, Small, and Medium-sized Enterprises Day'. Small but mighty is how MSMEs are, and their contributions to the economy is more than meets the eye.
Yes, we can easily roll off names of huge enterprises and giant corporations and yet we pass by so many small businesses in our daily lives and may not even remember the name of the shop or even know much about their story.
These quiet businesses are the ones sustaining the economy.
The United Nations General Assembly is raising awareness of the amazing contributions of MSMEs to the achievements of the United Nations Sustainable Development Goals (SDGs).
The numbers speak for themselves: MSMEs account for 90% of businesses, 60-70% of employment and 50% of GDP worldwide.
MSMEs are essentially the backbone of societies in how they contribute to the local and national economies. They are especially vital for sustaining the livelihoods of the working poor, women, youth and other groups in vulnerable situations. They are essential to helping economies bounce back from the impacts of the COVID-19 pandemic, and the challenging situations the world is facing, from climate issues to conflicts.
MSMEs are in need of support because they are the hardest hit whenever difficult situations arise nationally and globally. Small but mighty is how MSMEs are, and they have learnt to become more adaptable, agile and resilient to future situations. If huge corporations are reeling from the effects of the supply chain crisis, one can only imagine how MSMEs are coping. There are constant changes businesses have to deal with, and while all around COVID-19 may seem to be trailing off, the consequences have just begun. And have we mentioned rising inflation?
MSMEs need our help and support, and they face challenges in their business environment in terms of having access to finance, or to technology.
Amazing facts about MSMEs
These facts may help you take a different view towards MSMEs:
Small businesses employ over 5 million people, which is 42% of Australia´s private sector workforce.
Construction is our largest small business sector, employing 793,000 people.
Small businesses employ 63% or almost 288,000 of Australia's apprentices and trainees.
Small businesses employ 42% of Australia´s private sector workforce.
Top five industries with the highest percentage of people employed by small businesses.
Small businesses contribute $483 billion to the economy, that's roughly 33%!
Small businesses account for 97% of all Australian businesses.
Perhaps after looking at these astounding statistics it'll give you the urge to run out and hug the owners and workers of the small businesses down your street! They are not given special awards or recognition, but it takes very little to make someone's day simply by telling them you appreciate what they do, or just a simple thank you for being there.
That is why Brilliant-Online loves supporting small businesses. We are so proud of what they do, and we are proud of what we do with small businesses! We think they are absolutely Brilliant and their stories drive us to want to deliver a brilliant story that helps people get to really know them.
Helping Brilliant small businesses shine
Here are just a few of the small businesses whose stories we have heard, and whose journey we are supporting. You´ll find them familiar, so why not drop in the next time you pass by to say a friendly hi?
John Clarke makes the world of numbers look perfectly logical and not something to crack our brains over.
John understands what small businesses go through in terms of their financial challenges and concern