BEDC Honours Small Businesses On MSME Day
BEDC is celebrating MSME Day by highlighting the vital role of small businesses and ongoing support for their growth across Bermuda.
A spokesperson said, “In celebration of MSME Day, the Bermuda Economic Development Corporation [BEDC] joins the international community in recognizing the critical role Micro, Small, and Medium-Sized Enterprises [MSMEs] play in driving economic growth and job creation worldwide, including opportunities for disadvantaged groups.
“The United Nations General Assembly designated June 27th as MSME Day to highlight the significant contributions these businesses make globally. According to the UN, MSMEs represent 90% of all businesses, generate between 60 to 70% of employment, and account for 50% of the global GDP. These enterprises form the backbone of society, boosting local economies and supporting livelihoods for vulnerable groups, including women, youth, and the working poor.
“Bermuda, like many other places, benefits from MSMEs, which strengthen the island’s economy by creating jobs, fostering innovation, and enhancing the resilience of the local business community. Today, BEDC acknowledges and celebrates these valuable contributions.
“To support MSMEs further, BEDC provides specialized assistance to businesses across Bermuda, particularly those located in Economic Empowerment Zones [EEZs]. EEZs are located in North East Hamilton, South East Hamilton, Somerset, and St. George’s, to address equity gaps by combining economic, social, and community development. Businesses in these zones receive government support such as payroll tax relief, deferred customs duty, and favorable rates for financial services.”
Donte Hunt, Director of BEDC’s MSME Unit, said, “MSME Day reminds us of the essential role micro, small, and medium sized businesses play in our daily lives. When we support local businesses, we contribute to building a more resilient and inclusive economy. I encourage everyone to take time today to recognize and celebrate the businesses that enrich Bermuda’s culture and economic health.”
The spokesperson said, “Celebrate MSMEs by choosing to purchase goods and services from local businesses. You can also support their online presence by leaving positive reviews on platforms like Google, Yelp, and TripAdvisor, and engaging actively with their digital content—liking, commenting, sharing posts, and watching promotional videos.
“BEDC invites everyone to join the global celebration of MSMEs by shopping locally today. Share your support by tagging @bedcbda in your photos and videos and using the hashtag #MSMEDayBDA.”
