Excerpt
According to the International Labour Organization (ILO), micro, small, and medium enterprises (MSMEs) make up the vast majority of all enterprises around the world – 90 percent. In developing countries, the International Finance Corporation (IFC) and consulting firm McKinsey & Company estimate that there are between 365 and 445 million such enterprises.
Technical definitions of “micro,” “small,” and “medium” vary significantly from country to
country; in this report, we will use the term “small business” to refer to this diverse group. Most are very small indeed: IFC and McKinsey classify between 340 and 415 million businesses, approximately 93 percent, as micro.
Citations
Jenkins, Beth. "Empowering Small Businesses in Corporate Value Chains: The Case of SABMiller’s 4e Camino al Progreso Program." Research Report No. 61. CSR Initiative at the Harvard Kennedy School and Business Fights Poverty, 2015.