The SDG targets are ambitious and require transformation of public and private activities. This transformation is associated with adapting new business models, bringing in new innovation/ technology and doing business differently – more sustainably and more ethically. This process opens up new business opportunities for the private sector in general and particularly for MSMEs. According to the Business and Sustainable Development Commission, sustainable business models could open economic opportunities worth $12 trillion and create 380 million jobs by 2030, with more than 50 per cent2 being located in developing countries. Such opportunities for MSMEs have been identified under each goal. The discussion also focuses on selected business examples and good practice initiatives that support MSMEs and in turn contribute to the achievement of SDGs.
According to the World Bank, Micro, Small and Medium Enterprises (MSMEs) are defined as follows – micro enterprises: 1–9 employees; small: 10–49 employees; and medium: 50–249 employees.3 However, the local definition of MSMEs vary from country to country, and is based not only on number of employees, but also by inclusion of other variables such as turnaround and assets. MSMEs play an important role in the wider ecosystem of firms. Start-ups and young firms, which are generally small or micro firms, are the primary source of net job creation in many countries and are the driving force of innovation and sustainability in the private sector. There are about 365445 million MSMEs in emerging markets: 25-30 million are formal SMEs, 55-70 million are formal micro, and 285-345 million are informal enterprises.
Valuing Ecosystem Services
The Business & Sustainable Development Commission estimates forest ecosystem services have a potential value of US $140-365 billion a year by 2030. Deforestation and forest degradation account for 17 percent of global emissions -more than transport. Just few commodities like soy, palm oil and paper/pulp, are responsible for driving half of all deforestation. It is expected that a carbon price of US $50 per tonne by 2030 will open up major new opportunities in sustainable forest services, such as climate change mitigation, watershed services and biodiversity conservation, if mechanisms to pay for them develop too. One hundred and fourteen governments have made commitments to ecological restoration as part of their overall plans to tackle a changing climate, pledging to restore 162 million hectares of land. More and more enterprises are seeing the commercial potential in sectors related to ecological restoration, including those whose main value proposition is linked to forest and landscape restoration. This may be a direct link, enterprises that plant trees, for example, or an indirect one, such as companies that offer technology or consulting services for restoration. A restoration enterprise can also include companies whose revenues are not directly linked to restoration, but whose customers are drawn to them because they channel their profits toward restoration. Existing MSMEs and startups need to be supported with capacity building to tap the new business opportunities stemming from contributing to the SDGs.
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Lockdown Lessons: Business Contingency Measures Can Help Get Over the Crisis
The nationwide Tlockdown in the past two years has severely dented business and the economy, and micro, small & medium enterprises (MSMEs) were the worst hit. In April this year, the Confederation of All India Traders estimated that the daily business loss due to lockdown in Delhi is around INR 6 billion. At an all-India level, this translates into around INR 300 billion, considering full and partial lockdowns, night curfews and other forms of restrictions.
Proveda Working to make family of 1 million by 2025 with Turnover of 500 Cr
Started in 2019, Proveda India boasts of one of the most ethical and transparent direct-selling platforms under the parent company Proveda Herbals.
uTrade Solutions Enabling Faster, Safer and Inclusive FinTech Space
Kunal Nandwani Co-Founder & CEO, uTrade Solutions
Grow Communities and Focus on What They Say not What you Deliver
Next Level retail & Marketing
SMERA Aims to be the Most credible Voice for the MSME sector
SMERA Gradings and Rating is a subsidiary of Acuité Ratings & Research Limited and is dedicated to providing SME ratings & grading services to MSMEs. The company launched in 2005 as SME Rating Agency of India Limited, a joint initiative of Small Industries Development Bank of India (SIDBI), Dun & Bradstreet Information Services India Private Limited (D&B) and leading public and private sector banks in India. SMERA is possibly world's first SME-focused rating agency. Intending to facilitate easy access to finance for SMEs, SMERA focuses on promoting transparency and reducing information asymmetry.
SMEs Need to Adopt Technologies that Future-Proof them against Unanticipated Disruptions: Arun Meena
RHA Technologies is the brainchild of IIT Kanpur graduate, Arun Meena. The organisation for the first time in India enables the unique trust dependent outsourced tech co-founder offering for Start-ups and SMEs. In addition, the organisation also offers the traditional model of outsourced product development to MNCs and startups. It also provides an empathetic and synergistic technology consulting, digital transformation, and technology services and solutions to the founders of start-ups and SMEs worldwide. Thus, enabling the client organisations to realise and strengthen their innovation, differentiation, valuation and market offering.
Integrating Dental Health Services with Technology to Spread Awareness
My Dental Plan Healthcare is an IT-enabled healthcare company, Mproactively streamlining dental experience in India by bringing them at par with the dental services around the globe. The company has ushered in the era of IT-enabled healthcare in the dental space and is known to offer standardised, quality services in a completely hygienic environment at reasonable costs.
Tavaga : Making Use of Technology in Fintech Space
Tavaga provides an innovative technology interface for investors via a mobile application. It empowers retail investors by providing them with access to the same advice, processes, investment products, and technology as professional investment funds hired by HNI. Tavaga's mission is to assist the investors in saving more and achieving user-defined goals at a reasonable cost, i.e. democratizing advisory.
Role of MSMEs in Ecosystem Restoration
According to the Business and Sustainable Development Commission, sustainable business models could open economic opportunities worth $12 trillion and create 380 million jobs by 2030, with more than 50 per cent2 being located in developing countries.
In a Remote World, the Cloud Enables Business Continuity
In the first half of 2020, the global pandemic forced companies around the globe into a sudden and unexpected shift to remote work. Many companies immediately turned to cloud computing for continuity of service. Those that didn't are heading that way now because, while the current crisis will eventually subside, it has permanently changed the business landscape and how companies operate. For many businesses, a percentage of employees and roles will become permanently remote. Fortunately, for those that need to adapt, the cloud can ease this transition. From enabling large scale remote work to enhancing business operations and saving cost, cloud computing is now an essential business practice for companies around the world.
The Filipino entrepreneurs' most significant role
This sounds cliché, but the most significant role of Filipino entrepreneurs, come hell or high water or COVID-19, has remained the same: Entrepreneurship is geared toward nation-building.
Ford India exit: Minister assures aid for MSMEs
WITH an aim to assess the impact of Ford India’s exit on MSMEs, who have been supplying auto parts for more than two decades now, a meeting was chaired by Rural Industries Minister T M Anbarasan on Wednesday.
“In An Exclusive Conversation With Mr. Shachindra Nath, Executive Chairman & Managing Director, U Gro Capital
HOW CAN BANKS ASSIST SMEs IN THESE CHALLENGING TIMES POST- COVID?
With the current pandemic affecting the global economy, financial institutions and banks have started navigating to the post-COVID- 19 strategy.
HELPING SMES ACHIEVE RECURRING GROWTH AMIDST CHALLENGING TIMES
When the pandemic hit countries worldwide, livelihood and business operations were at stake. Disruption took place at every level and businesses had to respond on multiple fronts in order to safeguard their operational viability, which came under strain from the shock that affected supply chains.
‘Govt's stimulus package for economic revival inadequate'
Parliamentary panel said that a detailed study needs to be conducted to assess actual losses suffered by MSMEs to chalk out an effective revival plan
SMALL BUSINESS, BIG STRESS
Government relief measures for MSMEs have benefited only a few players. A large number may be unable to survive the pandemic
How e-commerce has been a gamechanger for Indian MSMEs
INTERNET WAS ONCE THE WEAKNESS OF MSMES IN INDIA. BUT, WITH THE PASSAGE OF TIME, THE WEAKNESS HAS TURNED INTO A SOURCE OF STRENGTH, AND EVENTUALLY E-COMMERCE HAS PROVED TO BE A GAMECHANGER FOR INDIAN MSMES.
Relieving the Pain
With the second wave of Covid-19 putting further stress on the economy, the Reserve Bank of India has launched measures to enhance fund flow for the healthcare sector and inject more liquidity into the system. Will they help?