
SMEs and SDGs: challenges and opportunities

By Dr Teodorina Lessidrenska, Consultant, World Bank
Recent studies show that small and medium enterprises (SMEs) account for an overwhelming majority of private sector business and economic activity in both developed and developing countries. Given the role of micro-, small- and medium-sized enterprises (MSMEs)1 in the global economy, it is essential to understand their importance and potential contribution to the Sustainable Development Goals (SDGs)2.
According to the World Bank3 and the OECD4, multiple reasons explain why MSME development is critical for achieving the SDGs:
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