World MSME Day is an initiative of the International Council for Small Business (ICSB) and has been declared by the United Nations as a day to celebrate micro-, small and medium-sized enterprises.
On occasion of World MSME Day 2020, the IPA has called on the community to support their local small businesses.
“The IPA is urging people to support their local small businesses by buying their products or services as a reboot to Australia’s economy during this COVID-19 pandemic,” said IPA chief executive Andrew Conway.
“The COVID-19 pandemic has affected all of us and the way we live. Small business is doing it tough and for those businesses affected by the 2019-20 bushfires, followed by this pandemic, the toll has been devastating.”
ICSB data indicates that MSMEs make up over 90 per cent of all firms and account on average for 70 per cent of total employment and 50 per cent of GDP, on a global basis.
“Please let your local small business know how much they are appreciated for their ongoing contribution to our nation’s economic wellbeing,” said Mr Conway.
