Micro-, small-, and medium-sized enterprises (MSMEs) face a multitude of challenges. Among these hurdles are difficulties in accessing affordable financing, the unpredictability of market demand, global economic uncertainties, and commodity price fluctuations, which have rendered the business environment unpredictable.
Supporting local businesses, especially MSMEs, is of utmost importance. Not only do these businesses create jobs and stimulate economic growth within their communities, but they also contribute to the unique character and vitality of their neighbourhoods, making them more attractive places to live and visit.
Strengthening local businesses enhances community resilience in the face of economic downturns and crises, while often promoting sustainable business practices.