The Recommendation on SME and Entrepreneurship policy was adopted by the OECD Council at Ministerial level on 10 June 2022 on the proposal of the Committee on SMEs and Entrepreneurship (CSMEE).
As part of a broader OECD SME and Entrepreneurship Strategy, the Recommendation aims to provide an evidence-based and holistic framework to support Adherents in developing coherent, effective and efficient SME and entrepreneurship policies, to foster their contribution to inclusive and sustainable growth and for the benefit of all.
The Recommendation responds to long-standing demand by countries for frameworks and tools to improve the effectiveness of SME and entrepreneurship policies, ensuring coherence and synergy across varied policy areas and actors and accounting for the diversity of the SME and entrepreneurship population. This has taken a new urgency in the aftermath of the COVID-19 crisis and acceleration of mega trends, as governments strive to support SMEs and entrepreneurs in the recovery and to adapt to the digital and green transitions.
The Recommendation offers a coherent and strategic approach to SME and entrepreneurship policies, encompassing a mix of targeted and horizontal policy dimensions and placing emphasis on effective governance mechanisms.
While aiming to be widely applicable, it recognises the different circumstances, institutional contexts and stages of development across jurisdictions, and that countries use a variety of policy frameworks to support their SMEs and entrepreneurs.
To celebrate this momentous occasion a special launch event took place on UN Micro-, Small and Medium-sized Enterprises Day (27th June). As turbulent times unfold for SMEs and entrepreneurs around the world, this event provided an opportunity for policy makers and stakeholders to discuss the future of SME and entrepreneurship policy, share views on the relevance of the Recommendation to foster recovery and develop future-proof policy strategies, and comment on priorities, challenges and opportunities towards effective implementation.