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Poverty reduction by trade and production capacity building in less privileged economies
| Guest post by: Norbert Knoll von Dornhoff |
Article Overview: SMEs play a decisive role at all Millennium Development Goals targets, but especially as regards Goal 1 (end poverty and hunger). WUSME's approach: Trade and production capacity building in less developed economies, Goal 7 (environmental sustainability) and Goal 8 (global partnership), all of them targets perfectly correlating with WUSME's Declaration of Purpose approved by the Founding Conference on 23rd April 2010 in San Marino.
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Poverty reduction by trade and production capacity building in less privileged economies
To galvanize support for
the Millennium Development Goals, the UN Secretary-General has
established an MDG Advocacy Group of eminent personalities who have
shown outstanding leadership in promoting the implementation of the
Goals. World leading pioneers at innovative SME policy are members of
the MDG Group, e.g. Prof. Muhammad Yunus (Bangladesh), Nobel Peace Prize
Winner, founder of the Grameen Bank for Micro Financing who will focus
on MDG 8 (global partnership for development), Mukesh D. Ambani (India)
Chairman and Managing Director, Reliance Industries. Focus on MDG 8
(global partnership for development), Wangari Maathai (Kenya) Nobel
Peace Prize Winner, environmental and political activist. Focus on MDG 7
(environmental sustainability) and Prof. Jeffrey Sachs (United States)
UN Secretary-General's Special Adviser on the MDGs. ocus on all MDGs.
WUSME will co-operate with these eminent persons in the interest of SMEs
in less privileged countries in the nearer future.
WUSME: World Champion at Global Partnership (MDG Target 8)
Delegates
of SMEs supporting organisations from more than 50 Countries in Africa,
Asia, Europe, Latin America, USA, Russian Federation, among them
Government Agencies, Chambers of Commerce and Industry, Women
Entrepreneurs Organisations and Banks participated in the Conference.
According to recent estimations of the World Bank, we have world wide
approx. 500 million formal and informal entrepreneurs, 99% of them SMEs
including Micro-Entrepreneurs. The number fluctuates with the ups and
downs of the economic cycles. Though since the begin of this year, a
significant rebound of the world economy can be felt, it has not yet
become a recovery. Due to the crisis more than 60 million more people,
among them millions of small- and micro entrepreneurs, primarily in the
less developed countries will be in poverty in this year 2010.Many of
the achievements in recent years made to facilitate business of SMEs in
the world, to reduce poverty in less privileged economies have seriously
been jeopardised by shrinking demand for SMEs export products,
increasing prices for energy and food, falling commodity prices,
significant reductions in foreign investment and a general liquidity
shortage. The strong interdependence among the worlds' economies made
this a literally global economic crisis and human tragedy.
SMEs Crises Prevention and Development
Leading
economists, e.g Jeffrey Sachs predict that SMEs cannot rely alone on
Governments help and financial support in times of crises. Faced with
huge budget deficits and public anger, almost all counties in the world,
including the US and the Countries of the European Union will have to
impose a financial transaction levy soon, based on the proposal of the
Nobel Price laureate James Tobin. The revenue generating potential of a
levy is tremendous. A tiny levy rate of 0.005% would generate proxy. $30
billion per year, of which a substantial amount could be allocated to
promote international economic development and prevent Micro- Small and
Medium Enterprises from bankruptcy in times of financial crises. A pilot
CTL pilot project initiated by WUSME shall now prove the feasibility of
a unilateral CTL on a voluntary basis agreed between Governments and
local Banks.
Micro Finance and Agribusiness
Our WUSME
President Gian Franco Terenzi is convinced: Micro financing has proven a
critical tool in the fight for survival of SMEs in times of a crisis
and for further development. Access to a range of micro finance
services, savings, loans, and money transfers— enables poor families to
invest in enterprise and in better nutrition, improved living
conditions, and the health and education of their children. Further a
commitment to focus on Micro- and Small agribusiness, the existing
approaches being followed by structural transformation, technological
upgrading and economic diversification of economies. Agribusiness is the
key determinant of overall economic growth and poverty reduction in
most developing Countries.
The accelerated development of
agribusiness will benefit a large majority, paricularly of the
population in most countries of Sub-Saharan Africa, and it will enhance
the well-being of both producers and consumers, generate employment,
income and food security and contibute to solve the problem of
increasing immigration and emigration of the local population. Access to
Micro-financing for SMEs in the agro-industry will have priority for
WUSME's Action Plan.
There are indeed strong indications for
being optimistic about WUSME's potential for achieving the Goals as set
in the Mission Statement and in the Declaration of Porpose.. Can it be
done? Yes, we are confident that success is at hand. Together we can
make a difference. The difference will be driven by innovative thoughts,
actions and deeds.
Recommendations for future research - Factors Impeding the Poverty Reduction Capacity of Micro-credit: Some Field Observations from Malawi and Ethiopia
Least Developed Countries Report, 2007
1.19 Building trust: Working Out of Poverty
1.9 Building local development through cooperatives: Working Out of Poverty
Abstract - Factors Impeding the Poverty Reduction Capacity of Micro-credit: Some Field Observations from Malawi and Ethiopia
Micro-finance Policy and Development Framework: Malawi
2.9 Conclusions: Working Out of Poverty
Moving Forward: International Financial Institutions
Introduction - Abstract - Factors Impeding the Poverty Reduction Capacity of Micro-credit: Some Field Observations from Malawi and Ethiopia
3.0 Community action for decent work and social inclusion: Working Out of Poverty
1.17 Building partnerships: Working Out of Poverty
1.15 Building an employment agenda: Working Out of Poverty
Wanted: jobs for Africa’s youth - Policy Reforms
2.8 The foundations of a decent work strategy for poverty reduction: Working Out of Poverty
5.12 Social dialogue: Working Out of Poverty
5.6 A coherent framework for national and local action: Working Out of Poverty
3.10 Conclusions: Organizing to overcome poverty: Working Out of Poverty
1.0 Recent Economic Trends and Prospects for 2007: Economic Report on Africa 2007
Forms of Regional Integration
Marcus Asay - Economic Growth and Development, What it consists?
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About the Author: Norbert Knoll von Dornhoff RSS for Norbert's articles - Visit Norbert's website Click here to visit Norbert's website   The Currency Transaction Levy An innovative source of SMEs financing From Entrepreneurship to Entreprenology New findings of entrepreneurial research The next financial crisis keeps looming Poverty reduction by trade and production capacity building in less privileged economies The economic implications of global remittances for SMEs |
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