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Let's celebrate World MSME Day
THURSDAY June 27, is World MSME DAY celebrating the existence of millions of micro and small to medium enterprises around the world and the Institute of Public Accountants (IPA) says we should all celebrate.
According to the data provided by the International Council for Small Business (ICSB), formal and informal micro, small and medium-sized enterprises (MSMEs) make up over 90 percent of all firms and account on average for 60-70 percent of total employment and 50 percent of GDP.
The General Assembly of the United Nations, in recognition of the importance of the sector, declared June 27 the Micro, Small and Medium-sized Enterprises Day to raise public awareness of their contribution to the global economy and sustainable development.
“We all know of the critical role that small business plays not just in Australia but across the globe,” said IPA chief executive officer, Andrew Conway.
“With some 75 percent of our members servicing small business or being small businesses in their own right, it is certainly worthy of celebration.
“Our Australian Small Business White Paper aims to create better policy outcomes to strengthen small business productivity which is essential for our economic prosperity and protection of the living standards we currently enjoy,” Mr Conway said.
About the Institute of Public Accountants
The IPA, formed in 1923, is one of Australia’s three legally recognised professional accounting bodies. In late 2014, the IPA acquired the Institute of Financial Accountants in the UK and formed the IPA Group, with more than 36,000 members and students in over 80 countries. The IPA Group is the largest SME focused accountancy organisation in the world. The IPA is a member of the International Federation of Accountants, the Accounting Professional and Ethical Standards Board and the Confederation of Asian and Pacific Accountants.
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