✅ Last week the world celebrated the World MSME Day. A day dedicated to all the Micro, Small and Medium-sized Enterprises around the world.
✅ One attitude I have seen among so many people is how little they care to support small businesses. They do this in different ways such as:
🔴 Asking small business owners for ‘freebies’ or “pro bono” services.
🔴 Making it difficult for small businesses to do business with their companies, especially if they are in position of authority.
🔴 Delaying payment owed to SME vendors and being bogged down by the beuracracy can significantly disrupt SMEs cashflow.
🔴 Not offering a small gesture of support to small businesses such as referring their services, giving them a shoutout or even checking with them if they need any help (Ofcourse you don’t have to do so if you’re not happy with the services they offer)
✅ The role MSMEs have had during the pandemic has been crucial to society.
✅ In Dubai, they employ more than 52% of the workforce and contribute to around 50% of the GDP.
✅ I share in this video on my Instagram one other reason why supporting this segment should matter to us.
✅ I also shot a longer video of what I believe personally are 5 challenges facing MSMEs in the UAE. You can watch it here:
🔴 Question: Besides what i mentioned in my video what are other challenges you feel MSMEs are confronted with? please share in the comment section
The impact the SME segment in the market had during the pandemic has been crucial to society. Driving innovation, incubating future multinationals and creating jobs where many multinationals were busy laying off large number of employees.