Trade Finance Global partners with Trade4MSMEs
Trade Finance Global (TFG) has partnered with Trade4MSMEs with the aim of providing micro, small and medium-sized enterprises (MSMEs) with relevant resources to help grow their businesses.
TFG Editor-in-Chief Deepesh Patel said: “We are delighted to join the WTO’s Trade4MSMEs initiative, supported by organizations such as the United Nations Commission on International Trade Law (UNCITRAL), the International Chamber of Commerce (ICC), the World Customs Organization (WCO) and UK Aid, to help MSMEs navigate the complex world of trade and trade finance.
Today, 95% of businesses worldwide are MSMEs, which account for 60% of total employment worldwide according to the World Trade Organization (WTO).
Despite their overwhelming global presence, MSMEs face a number of barriers when engaging in international trade.
Deepesh Patel added: “Recent research suggests that MSMEs have been hardest hit by current geopolitical events, the Russian-Ukrainian conflict and COVID-19.
“Due to its countercyclical nature, trade can pave the way for recovery for MSMEs, but more education and information exchange is needed.”
Broader discussions and access to information can also help MSMEs address recent trends in supply chain disruptions such as sourcing, logistics and international sales.
The Trade4MSMEs platform includes a roadmap of steps for potential MSME traders that links to relevant resources to get businesses started. It also includes a section for trade policy makers to learn more about what is happening in the international MSME trade policy space.
Additionally, the MSMEs and Policy Makers sections contain relevant resources that can be searched by topic and region.
A Trade4MSMEs spokesperson said, “International markets present an opportunity for MSMEs.
“Trade4MSMES aims to provide small businesses with the tools and resources that would support their participation in international trade, build their capabilities and promote their growth.”
Start reading Trade4MSMEs MSME Guides for a concise overview of the main aspects of international trade here.