On June 27-28, OECD hosted Ministers from countries across the globe for a conference which centered around future proofing SMEs and entrepreneurs for greater resilience facing long term challenges.
The survival of SMEs and entrepreneurs has been threatened by unprecedented challenges since the last SME Ministerial Conference in 2018, including the global pandemic of Covid-19, Russia’s invasion of Ukraine, trade and supply chain problems, inflation and more. This meeting was attended by SME representatives, financial institutions, and other stakeholders in the improvement of SME and entrepreneurship policies, as they set out to boost productivity, innovation, and sustainability in their economies. Digital and Green Transformations were at the top of priorities for this reformation, with policy makers taking a “people centered” approach to give entrepreneurs and SMEs the flexibility to approach digital and green transformations in a way that works for their business.
The conference “Managing Shocks and Transitions – Future Proofing SME and Entrepreneurship Policies” covered a wide array of issues as countries split into workshops focusing on topics like “Improving access to finance,” “Rebooting startup and scale up policies to exploit and create new opportunities,” and “Upskilling and reskilling SMEs and Entrepreneurship” The OECD had a focus on net zero policies, inclusive entrepreneurship, and reducing regulatory burdens for this upcoming conference, all in order to adopt a more forward-looking agenda to strengthen SMEs and entrepreneurs for the unknown future. The day before, BIAC (Business at the OECD) organized a Stakeholder Dialogue session in Paris where INSME’s VP Markus Jerger from BVMW actively took part in the discussion. Panels from the event included discussions on “Mobilizing SMEs and entrepreneurs in the green and digital transformations” and “Navigating the rapidly changing business climate and building the resilience of SMEs and entrepreneurs” as well as a third panel on the physical and psychological well-being of SMEs and entrepreneurs.
This Ministerial Meeting was a success for SMEs and entrepreneurs as countries compared policy and identified best practices to enhance the competitiveness and resilience of these businesses. We look forward to seeing how this proactive approach will transform SMEs and how they withstand future challenges.
Source: INSME Secretariat
