Micro-, small, and medium-size enterprises (MSMEs) are the backbone of the global economy and make outsized contributions to employment and corporate value added. Yet their productivity is only half that of large companies in advanced economies and even less in emerging economies. Narrowing these gaps can create substantial value and boost national competitiveness in a time of shifting global production. To explore the barriers and opportunities to boost MSME productivity, MGI hosted a virtual event on the themes of a new report, A microscope on small businesses: Spotting opportunities to boost productivity.
The webcast featured a presentation on the research findings by report author Anu Madgavkar followed by a fireside chat between Olivia White and Sukhinder Singh Cassidy, CEO of Xero who were then joined by Greta Bull, Director, Women’s Economic Empowerment, Gender Equality, Gates Foundation and John Denton, Secretary General, International Chamber of Commerce for a panel discussion.
Themes of their conversation included:
- The MSME productivity gap with large companies and what causes it.
- Ways to bridge that gap through digital technologies, access to global markets, skills development, and innovative financing—and the role large companies can play.
- The role of trade for small and medium businesses today.
- How to create the right economic fabric for MSMEs to flourish in an era of shifting production.
For more on this topic, please watch the virtual event recording and read our report, A microscope on small businesses: Spotting opportunities to boost productivity.