Small Business, Big Impact: Celebrating MSME Day with Building Markets
Small Business, Big Impact: Celebrating MSME Day with Building Markets
June 27, 2024 | Elizabeth Brown
Every year on June 27th, the world comes together to celebrate Micro, Small, and Medium-sized Enterprises (MSMEs) Day. This day is a testament to the vital role that MSMEs play in fostering sustainable development, driving innovation, and creating jobs. At Building Markets, we understand that small businesses are not just engines of economic growth—they are also catalysts for social change. Our work with MSMEs has shown us that these enterprises, despite their size, have a colossal impact on communities and economies.
The Power of MSMEs
MSMEs make up 90% of businesses and more than 70% of employment worldwide. MSMEs are the backbone of the global economy, providing essential goods and services, creating jobs, and contributing to the GDP. They are often the first to innovate, bringing new products and services to market. Yet, despite their importance, MSMEs often face significant challenges, including limited access to finance, markets, and support services.
Building Markets: Empowering Entrepreneurs
At Building Markets, we have a front-row seat to the incredible stories of resilience and innovation that define MSMEs. Our mission is to support these businesses by providing the resources they need to thrive. We connect local entrepreneurs with new opportunities, help them access finance, and offer training and mentorship programs. Our goal is to ensure that these small businesses can grow, compete, and create lasting change in their communities.
One of our key initiatives is our online platform, which connects MSMEs directly with buyers. This platform has helped hundreds of businesses expand their reach and increase their sales. We also provide tailored training programs that equip entrepreneurs with the skills they need to manage and grow their businesses effectively.
A Success Story: Meet Vanessa
Vanessa’s story is a perfect example of the transformative power of MSMEs. Vanessa a is the co-owner of a small business in Colombia called La Gran Pimienta that manufactures spices. Despite the challenges of running a business in a region affected by violence and conflict, Vanessa and her partner are determined to succeed and create quality employment opportunities for others. She joined Building Markets’ network and took advantage of the matchmaking program.
With our support, Vanessa has been able to secure a contract to export pepper products to the United States. This is just the beginning of international expansion plans for La Gran Pimienta and looking ahead, she hopes to hire additional staff and start exporting even more products to neighboring countries. Vanessa’s success is having a ripple effect on her community, providing much-needed jobs and boosting the local economy.
The Ripple Effect of Small Businesses
Stories like Vanessa’s are a testament to the profound impact that small businesses can have. When we support MSMEs, we are not just helping individual entrepreneurs; we are fostering economic growth, creating jobs, and driving social change. Small businesses have the power to transform communities, and their success benefits us all.
Join Us in Making a Big Impact
As we celebrate MSME Day, we invite you to join us in our mission to support small businesses. Here are a few ways you can get involved:
1. Support Local Businesses: Make a conscious effort to shop from small businesses in your community. Your support can make a significant difference.
2. Invest in MSMEs: Consider investing in small businesses through organizations like Building Markets. Your investment can help these businesses grow and create more jobs.
3. Advocate for MSMEs: Use your voice to advocate for policies that support small businesses. Encourage your local government to create an enabling environment for MSMEs.
4. Volunteer Your Skills: If you have expertise in areas such as finance, marketing, or business management, consider volunteering your time to mentor small business owners. If you are interested in lending your expertise, please reach out to us.
On this MSME Day, let’s remember that small businesses make a big impact. By supporting MSMEs, we are investing in a brighter future for our communities and our world. At Building Markets, we are committed to empowering small businesses and helping them achieve their full potential. Join us in making a difference—because when small businesses succeed, we all succeed.
Visit our website to learn more about how you can support MSMEs and be part of the change. Together, we can make a big impact, one small business at a time.
