The ICSB 2018 Annual Report: What was said and what it means for SMEs

The ICSB published their Annual Global Micro-,Small and Medium-Sized Enterprises Report on June 27th, a date designated as MSME Day by the UN General Assembly just last year.

The ICSB worked diligently to convince the UN to take this action, and has put in just as much effort to honor the new holiday’s first anniversary, publishing a report combining the input of political figures, entrepreneurial academics, and small business advocates who all convened to discuss the best course of action for MSMEs country by country and around the world as a whole in the face of this upcoming fourth Industrial Revolution.

Every expert had their own opinion and analysis to present, each one carefully crafted from the research on MSMEs in their own country or field, but they all came to a consensus on certain topics.

Governments should invest greater care into supporting SMEs as an efficient way to alleviate the worldwide unemployment issue.

Diversification of the workplace, in terms of gender and age, will offer a wide variety of solutions to longstanding problems brought about from corporate stagnation.

And of course, the importance of SMEs adapting the latest technology.

“Combining SMEs and technology should be recognized as the key to strengthen productivity and transformation of the economy.” The report specified, adding that “Technological innovations should be embraced as part of the solution for MSMEs to increase productivity and focus on job creation.”

The world is changing quicker every day, and in order for SMEs to survive, let alone compete with the massive corporations gripping the world, it is paramount that they master the tools this Industry 4.0 is built from. Export Portal couldn’t agree more, that is the very reason we have devoted ourselves to refining our personal Blockchain Network, so that the work we do and the businesses we conduct it with are as efficient as can be.

There is too much at stake to settle for anything less, an opinion shared by several of the experts in the report.

Regis Labeaume, Mayor of Quebec, Canada, knew just how difficult it is for startups and small companies to build a wide presence without exporting their wares, and has developed a long-term investment plan to assist local SMEs with innovate their systems and advance to new heights previously out of reach.

Ricardo Veiga, Secretary of Small & Medium Enterprises in Brazil, stated that in order for SMEs to grow and function to their full potential, then much of the stifling bureaucracy impeding the export process will need to be eliminated. He was firm on SMEs being able to integrate into outside markets, and suggested steps to facilitate the training and tools small business owners will need access to in order for this to occur.

The United Nations Industrial Development Organization (UNIDO) itself outlined the modernization of SME manufacturing and management systems in their list of services, further listing the assessment and resolution of conformity risks between trading countries to ensure the best results for the best matched parties.

The outlining of this analysis is a blessing for MSMEs the world over, but it is all just talk until we start putting it into practice. This application of this information is sure to yield even greater data in the years to come, perfecting techniques and better preparing us for what this fourth Industrial Revolution has in store, and Export Portal is looking forward to exploring it with all of you.