Celebrating Small Business: For communities around the world, small business entrepreneurs are a big deal
Small Business Saturday was brought to life by American Express in 2010 and is all about encouraging people to support small businesses and benefit local communities. With the impact of the COVID-19 pandemic hitting hard and the 10th anniversary of the day rolling around, there is no better time to celebrate small business entrepreneurs around the world.
2020 has been a hard year for business as governments all over the world enacted harsh restrictions to curb the spread of the COVID-19 pandemic.
Small and medium enterprises (SMEs) are among the hardest hit. The International Monetary Fund estimates that the failure rate among SMEs increased by nearly 9% under COVID-19.
The long-term impact of an increasing number of SMEs shutting down could be devastating: SMEs represent around 90% of all businesses and 50% of employment globally. They are the heart and soul of the business world and the communities they operate in.
- Bright Jaja from Nigeria, an entrepreneur himself, encourages youth to acquire new skills that could help them start a business themselves.
- Maliha Quadir from Bangladesh helps to develop her country by filling the gaps in the transportation infrastructure with her ticketing and car-sharing apps.
- Zak Johnson from the U.K. fights one of the most pressing issues in the world – plastic pollution – with a flair for fashion, demonstrating that it is possible to step up and find ways to improve the environment in a profitable way.
— Krisjanis Polans
Published: November 2020