Micro-, Small and Medium-sized Enterprises (MSMEs) are the backbone of the economy across the globe and one of the major drives for innovation and development. The outbreak of the Covid-19 pandemic has dramatically affected global economy and severely disturbed the financial stability, operations and other aspects of business, among which the MSME sector is hit the hardest. In this situation, access to finance is of paramount importance for the survival of firms. However, MSMEs are less likely to be able to access finance than large firms. One of the reasons is the lack of financial literacy in the MSME sector. Therefore, it is essential to build capacities and improve technical expertise of entrepreneurs and employees in the MSME sector. Based on its Accounting and Financial Reporting Guidelines for Small and Medium-sized Enterprises (SMEGA Level 3), UNCTAD has developed the Accounting Training Manual for MSMEs focusing on micro and small companies.
Objectives
The initiative aims to improve financial literacy in the MSMEs and to facilitate their access to finance and financial inclusion, including to financial aid in the post COVID-19 resurgence. Pilot Training of Trainers (TOT) workshop targeting accounting and reporting trainers in English-speaking developing countries is planned to help participants learn how to use the training manual, and master the didactical knowledge and skills to deliver such training to entrepreneurs and small companies. UNCTAD will further adapt the training materials for Francophone and Spanish-speaking developing countries and deliver two corresponding TOTs for these countries in January and February 2021.
Target audience
The event is open to qualified experts in accounting and reporting.
