A new initiative aims to close digital divides, unlock financing, and support sustainable growth – positioning small and medium-sized businesses as key players in inclusive global development.
In a global first, ministers from more than 60 countries have unveiled a bold roadmap to future-proof small and medium-sized enterprises (SMEs) in an increasingly uncertain economic climate, setting out plans to support these firms’ digital transformation, financial inclusion, and green competitiveness.
The inaugural Global SME Ministerial Meeting brought together more than 700 participants – including policymakers, business leaders, and development experts – for several days of intensive dialogue. The outcome: a ‘call to action’ document, endorsed by consensus, aimed at unlocking the full potential of SMEs as they navigate new business frontiers.
A new International Trade Centre (ITC) report offers a behind-the-scenes look at the July meeting, organized by ITC and hosted by the Republic of South Africa’s Department of Small Business Development.
Future-Proofing Small and Medium-Sized Enterprises: Ministers back bold digital, financial, and green reforms explores why a new political space was created for ministers responsible for small business policy and related areas – and where this work is headed. It provides a play-by-play account of the conversations and country-led innovations that unfolded in Johannesburg, and what to expect in the lead-up to the next Global SME Ministerial Meeting in 2027.
‘SMEs are not just economic participants – they are economic drivers,’ South African Deputy President Paul Mashatile said during the closing session. ‘We must prioritize their development to create jobs, raise incomes, and foster inclusive growth.’
Ministers zero in on SME transformation priorities
Three white papers developed by ITC before the meeting helped shape the discussions in Johannesburg. Each paper explored a core area of SME development – going digital, financial inclusion, and green competitiveness – which became central themes throughout the ministerial conversations.
The resulting call to action sets out how governments hope to work together in helping SMEs navigate these new business frontiers over the coming two years, including by sharing best practices and advocating for actionable solutions. They also requested ITC’s support in putting these plans into motion.
Digital transformation: From mobile payment systems in Africa to artificial intelligence-powered investment tools in Latin America, digital platforms are increasingly helping small businesses leapfrog traditional barriers. But the digital playing field is not yet even for SMEs, and some risk being left behind in today’s digital revolution. Ministers signaled plans to help expand affordable connectivity, support the development of firms’ digital skills, and enable a regulatory environment that better supports SMEs in an ever-changing digital landscape.
Access to finance: Countries showcased innovative models – from Kenya’s Hustler Fund to Brazil’s coaching initiatives for women entrepreneurs – designed to make finance more accessible and tailored to SMEs. The call to action highlights the need for governments to work more closely with financial service providers, international financial institutions, and regulators to ensure SMEs have financing options and a regulatory framework that better reflect their needs and realities – and that SMEs also have the requisite support to build their financial literacy and skills.
Green competitiveness: Sustainability emerged as both a challenge and an opportunity. While many SMEs struggle with the cost and complexity of going green, ministers pointed out that climate-smart practices can open new markets and help firms build resilience. The call to action outlines governments’ goals for improving access to green finance, enabling a more supportive and balanced regulatory environment, and helping ensure SMEs have the knowledge and skills to ‘go green’ and take full part in sustainable value chains.
The meeting also featured a Trade Promotion Organization Leadership Dialogue and a Business and Innovation Space, where more than 50 SMEs showcased real-world applications of digital and green technologies. More than $6 million in commercial leads were generated, with several deals signed within weeks of the event.
‘Tangible and measurable results’
The call to action signals a growing global alignment among countries around the need to strengthen SME competitiveness through sharing best practices and pressing for solutions, together.
‘We have to ensure this call to action has tangible and measurable results for the next two years and establish a roadmap moving forward,’ said ITC Executive Director Pamela Coke-Hamilton. ‘This is not a one-off; we want to set up an advocacy platform. What we’ve started here is a movement.’
As governments advance with its implementation and start preparing for the 2027 Global SME Ministerial Meeting, the message is clear: a more inclusive, sustainable global economy needs SMEs to thrive and to lead. And everyone across the SME ecosystem has a role to play in making that vision possible.
