In less than two months, we will be hosting – with the Department of Small Business Development under the leadership of Minister Stella Tembisa Ndabeni – the first-ever Global SME Ministerial Meeting.  

There isn’t a better time to host such a meeting.  

The Ministerial, taking on the theme of “Navigating New Business Frontiers”, comes at a time of major changes in global trade, from tariff-related policy shifts to the rise of digital technologies changing the way we do business, to climate emergencies forcing businesses to rethink operations. 

In this context, what we can say is this: When the winds shift, anchor your ship. 

In times of uncertainty, double down on what works.  

What works, and what has been proven to work as we’ve experienced firsthand over six decades, is equipping small businesses to navigate major changes. That means increasing their access to affordable finance, improving their ability to use digital services for business, and supporting them to make the transition to a greener economy. These are key topics ministers will discuss during the Ministerial. 

Investing in small businesses makes economic sense. Small-scale producers and manufacturers make up 90% of businesses worldwide and account for two-thirds of all jobs. For example, the cotton shirt you’re wearing, the coffee you had this morning, the phone in your hand – it’s very likely a small business played a role in making that possible. 

Small businesses including those led by women and youth make up a significant portion of suppliers along global value chains, in developing and developed countries, so their action matters not only for individual countries’ economic development, but for the global economy. Small businesses form the foundation of trade. So their ability to navigate and benefit from this changing landscape is key. 

For change to happen at that level, the small business agenda also has to be a political one. That’s why we’re partnering with the Government of South Africa, through the Department of Small Business Development, to raise the political importance of the SME agenda at the global level, through this Ministerial. As I said earlier, there isn’t a better time to host this Ministerial, as South Africa holds the G20 presidency this year, prioritizing themes like inclusive economic growth, financial stability and climate change. These are areas that we can – and will – build on together. 

As I wrap, I want to share this: The Ministerial is not just a conference; it is a call to action. Nearly 50 countries are expected to join us in Johannesburg in July, including many from across Africa. Ministers will work to develop and endorse a call to action, agreeing to reflect the voice of small business in national policies, to support more sustainable and inclusive trade-led development. 

Thank you.