THIS SATURDAY, June 27, is World MSME Day (Micro, Small and Medium-sized Enterprises Day), a celebratory day declared by the United Nations and an initiative of the International Council for Small Business (ICSB).
Australia and the UK's Institute of Public Accountants (IPA) is encouraging people to celebrate the importance of small business on Saturday.
“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,” IPA chief executive officer, Andrew Conway said.
“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 percent of all firms and account on average for 70 percent of total employment and 50 percent of GDP, on a global basis," Mr Conway said.
“Please let your local small business know how much they are appreciated for their ongoing contribution to our nation’s economic wellbeing,” he said.
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 37,000 members and students in over 80 countries.
The IPA Group is now 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.