Photo Credit: Washington State Department Of Financial Institutions

SMEs & Self Employment Generate Most Jobs, Says ILO

According to a new data collected from 99 countries by International Labour Organization (ILO), small enterprises and self employment is said to have generated 70 percent of the total jobs in the market.

The ILO report that was published under the name, ‘ Small Matters: Global evidence on the contribution to employment by the self employed, micro-enterprises and SMEs’ have found that not only the working conditions are inferior for many countries but poorer countries also accounted for higher percentage for generation employment in the informal sector.

ILO have called for the attention of policy makers toward small businesses and self employed population in developing strategies so that inferior working conditions be tackled and optimum productivity be achieved.

The report also emphasized on creating a feasible environment for small scale business and entrepreneurship by providing access to markets and availability of finance as well as support women’s entrepreneurship. It also called to create an environment for the smooth and flawless transition to a formal sector.

The firms that were studied had employees between zero to below 300 employees and came under different headings such as self employed for those who don’t employ anyone under them, micro business for those who employ less than 10 people, small businesses for those who employ between 10 to 49 people and medium sized business for those who have 50 to less than 300 employees.

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