It’s a good time to be an entrepreneur. The best entrepreneurs are just phenomenal problem solvers and in emerging markets there are several problems that creates immense opportunities. But access to that abundance of opportunities has various obstacles.
If you work as an entrepreneur you are aware of the frustration of not having capital to scale your business. Entrepreneurs continues to face day-to-day struggles in their operational business that are related to the ecosystem meant to support them to flourish.
The reality is that the entrepreneurship/SME (small and medium-sized enterprises) support ecosystem is broken, yet the world is filled with people wanting to lend a hand to them.
Now, a group of business people – who are passionate about making a measurable impact in the lives of entrepreneurs and SMEs everywhere – are establishing a Global SME Movement to tackle this challenge.
The aim of the Global SME Movement is to building an entrepreneurship ecosystem that support SMEs, which are responsible for significant employment and income generation opportunities across the world.
These business people have started the #JoinTheMovement campaign, which is calling on everyone to think differently about the problem with #AccessToMarkets.
Access to finance is often cited as one of the primary obstacles that affect SMEs disproportionately.
According to the World Bank, there are 200 to 245 million formal and informal enterprises that do not have a loan or overdraft, but are in need of one, or do have a loan but still find access to finance as a constraint. More than 90% are SMEs.
A developed financial sector helps mobilize and allocate resources, and manage risks, contributing to private sector development.
Furthermore, finance helps economic growth, and in turn, job creation.
“We believe that through making it easier for businesses to find each other around business opportunities we will increase the trade between businesses and reduce the friction associated with traditional marketing efforts (think about the money you don’t have to waste on Facebook or Google campaign),” a note on the Global SME Movement’s website reads.
The note goes on to say that there is a better way to support the entrepreneurship ecosystem. “That there is a model to help businesses grow without having to betray the users’ trust.”
“We hope you will join us, because together we can raise the tide for everyone,” it reads.
United Nations World SME Day
York Zucchi, a major proponent for #AccessToMarkets for SMEs, has expressed his support for the Global SME Movement.
“Innovation is the virus of a modern economy, often resisted, often ridiculed and suppressed or downright ignored… But in the end it strengthens the body of society,” he tweeted.
Innovation is the virus of a modern economy, often resisted, often ridiculed and suppressed or downright ignored… But in the end it strengthens the body of society
— York Zucchi (@YZP) May 27, 2018
“Take the “Support an SME” pledge on http://www.SMEmovement.org today and make a difference.”
Did you know that 70% of all jobs in the world and 50% of global GDP are created by SMEs?
Join us as we celebrate the United Nations World SME day on the 27th of June 2018.
Take the “Support an SME” pledge on https://t.co/Ag8MowgsDo today and make a difference
— York Zucchi (@YZP) May 27, 2018
The Global SME Movement was created in anticipation of the United Nations World SME Day on the 27th of June.
The General Assembly, recognizing the importance of these enterprises, decided to declare 27 June the Micro-, Small and Medium-sized Enterprises Day to raise public awareness of their contribution to sustainable development.
The aim is to encourage member states to facilitate observance of the day by increasing awareness and actions to support small business.
The Global SME Movement is a practical way for everyone, from corporates, those employed, entrepreneurs, incubators, universities, mentors, SMEs, supranationals and governments to support SMEs.
Some of the organisations who have pledged their support for the Global SME Movement include Nedbank, Hippo Roller, Mantis, Tourism Tattler, 2020Insight, Cofesa, IPC Ireland, Talk IoT, TechFinancials, Entrepreneur, The Innovation Hub, Code For Change, Wits Enterprise, etc.
Who Are The People Behind The Movement?
The people behind this initiative have been around the block. They worked for big banks (Goldman Sachs, Standard Bank, etc.), big pharma (Roche, etc.) and governments. Collectively they have worked in over 24 countries.
“They are passionate about making a measurable impact in the lives of entrepreneurs and SMEs everywhere,” a note on the movement’s website explains.
“Who they actually are is irrelevant: this is not about our ego. This is about all of us rolling up our sleeves and making a difference.”
Go to the Global SME Movement website to pledge your support for SMEs.
“Welcome to a new world. Welcome to the SME movement.”