In a significant move towards bolstering global efforts for social justice, the International Council for Small Business (ICSB) has officially joined The Global Coalition for Social Justice. This groundbreaking initiative aims to amplify collective endeavors in urgently addressing social justice deficits and accelerating the implementation of key global agendas, including the 2030 Agenda for Sustainable Development, the Sustainable Development Goals, and the Decent Work Agenda.

Expressing admiration for the International Labour Organization’s (ILO) pivotal role in advancing social justice, decent work, and sustainable development, the ICSB emphasizes its strong partnership with the ILO, marked by collaborative initiatives, including those in Egypt. Recent collaborations with key figures such as Mr. Dragan Radic, Chief of the Micro Small and Medium Enterprises (MSME) Branch of the ILO, and Amber Barth, Director of the ILO Office for the United States and Canada, have further solidified the commitment to address crucial intersections of trade and labor rights, ensuring protection and resilience for MSMEs and their employees.

Aligned with shared values and aspirations, the ICSB formally announces its membership in the Coalition, leveraging its expertise in MSMEs to contribute significantly to its objectives. With a focus on leading thematic areas such as trade and labor in MSMEs, the ICSB aims to drive positive change by leveraging experience and networks.

Moreover, the ICSB pledges to spearhead initiatives to significantly advance social justice, particularly by safeguarding and enhancing resilience for MSMEs and their employees. Whether pursued independently or in collaboration with partners, these initiatives underscore the commitment to fostering a more equitable and inclusive global society.

In response to the ICSB’s commitment to the Global Coalition for Social Justice, Dr. Ayman ElTarabishy, President & CEO of ICSB, stated, “Our collaboration with the Global Coalition for Social Justice underscores our unwavering dedication to advancing social justice and fostering a more inclusive global society. Through collective action and collaboration, we are poised to make meaningful strides towards a world where every individual, regardless of background, has the opportunity to thrive.”

Envision the future business landscape as a dynamic tableau pulsating with the vibrant hues of technology, entrepreneurship, and adaptability. The International Council for Small Business (ICSB) cordially invites you to embark on an exhilarating exploration into the realm of micro, small, and medium-sized enterprises (MSMEs) worldwide in 2024.

Our expedition is not a mere conjecture but is firmly rooted in rigorous analysis and forecasting. We are devoted to unraveling the complex patterns of the global business ecosystem. Our unique strength lies in the active involvement of our dedicated members and board members, who generously contribute their insights and expertise. They are the master weavers of this vibrant tapestry, enriching our comprehensive understanding of the business landscape.

Our two flagship journals are pivotal in unveiling trends based on the research submitted and consumed within our community. These insights become the threads we intertwine into our understanding, enabling us to engage with partners, including major multinational organizations. Through this collective endeavor, we glean profound insights into the trends that will sculpt the business world in the forthcoming years.

As a vanguard in global entrepreneurship research and practice, ICSB is delighted to present our annual publication, ‘Top Ten Trends for MSMEs in 2024.’ This compilation spins an intriguing narrative around enduring principles and innovative ideas shaping the entrepreneurial journey in the upcoming year. Each trend represents a valuable nugget of knowledge meticulously curated by our team.

So, what is the Number One trend for MSMEs in 2024? ICSB reveals:

Number One Trend for 2024: MSMEs Forming Collaborative Alliances.

The paramount trend for 2024 redefines the landscape of MSMEs, highlighting the formation of Collaborative Alliances—an age-old concept rejuvenated with fresh vitality. It emerges as the #1 Trend for MSMEs, offering a transformative path forward for several compelling reasons. Businesses acknowledge the undeniable strength of unity in an era marked by economic uncertainties and disruptions. Like a multitude of Davids facing Goliath-sized challenges, MSMEs are now banding together, pooling their resources, expertise, and market insights to form a formidable force. This collective strength enables them to negotiate better terms, penetrate untapped markets, and weather market fluctuations with greater resilience than they could achieve as standalone entities.

Collaborative Alliances transcend mere resource consolidation; they foster a culture of innovation and cross-pollination of ideas. Within these alliances, members bring complementary expertise to the table, sparking collective problem-solving and a relentless pursuit of improvement. This collaborative ethos not only optimizes resource allocation and reduces operational costs but also bolsters the individual resilience of businesses in the face of unpredictable challenges. These alliances wield substantial influence by uniting their voices in advocacy for favorable policies and regulations, actively molding the business environment to serve their collective interests.

In essence, Collaborative Alliances symbolize the evolution of MSMEs, empowering them to thrive, innovate, and navigate the complexities of today’s dynamic business world with the strength derived from unity.

Dear Esteemed Members and Supporters of ICSB

As we approach the close of an eventful year, I am delighted to share with you the profound journey that the International Council for Small Business (ICSB) has undertaken throughout 2023. This year has been exceptional, marking one of our organization’s most dynamic and impactful periods over the past five years. I’m excited to elaborate on the remarkable accomplishments that have defined our path.

• • ICSB Congress: A Triple Triumph
    For the very first time, we orchestrated the ICSB Congress across three diverse cities in South Korea – Seoul, Jinju City, and Gwangju. This pioneering approach showcased our adaptability and exemplified our commitment to innovation and our dedication to meeting the ever-evolving expectations of our esteemed members. It was a resounding success, demonstrating our ability to unite our global community in novel and engaging ways. A special thanks goes to our Chair, Dr. KiChan Kim, for leading the ICSB World Congress in S. Korea.
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  • UN MSMEs Day: A Global Phenomenon
    The UN MSMEs Day, an initiative birthed by ICSB in collaboration with Argentina, has transcended borders to become a global phenomenon. Witnessing the widespread recognition and adoption of this critical day is incredibly heartening. Organizations like the OECD now hold events on June 27th, aligning with our vision of celebrating and supporting Micro, Small, and Medium-sized Enterprises (MSMEs) worldwide.
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  • Pushing Boundaries and Shaping Discourse
    ICSB has consistently led by pushing the boundaries of convention and championing ideas that may have been met with skepticism initially. The creation of MSMEs Day is a prime example. This year, our MSMEs Day theme of “Empowering Women and Youth in MSMEs,” despite initial skepticism, gained profound relevance and resonance following Claudia Goldin’s Nobel Prize recognition for her groundbreaking research on gender income disparities. We continue to set the agenda and redefine the narrative.
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  • Azerbaijan: A Visionary Choice
    ICSB’s selection of Azerbaijan as the host for our SME World Forum was a decision that may have raised eyebrows initially but has proved visionary. The subsequent selection of Azerbaijan to host Cop 29 is not a mere coincidence; it reflects the nation’s spirit of innovation and forward-thinking. ICSB recognized this potential as early as 2021, and our choice has been validated. ICSB thanks our partner, KOBIA, for delivering an exceptional event.
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  • Research Excellence and Impact
    Under the guidance of Drs. Eric Liguori, Katia Passerini, Jeff Alves, and me, our research endeavors have reached new heights. Our flagship journals (JSBM and JICSB) have enjoyed a banner year on multiple evaluation metrics. ICSB’s latest journal, JICSB, was included in the Web of Science Emerging Sources Citation Index. This marks a significant milestone, and this achievement will undoubtedly enhance the overall impact of our research efforts.
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  • Impactful Research for Communities
    Our commitment to impactful research extends to community engagement. Our study on the origins of Korean Entrepreneurship is making a tangible difference in Jinju City, benefitting local MSMEs and the youth. We are also embarking on unique research ventures, such as exploring the intersection of entrepreneurship and religion. These topics, though unconventional, align with our tradition of pioneering initiatives that create meaningful change.
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  • Lemonade Day: A New Signature Initiative
    The ICSB International Office Team, led by Skye Blanks, Ana Bradic, and Kyle Lyon, has unveiled a groundbreaking initiative, Lemonade Day, as part of the ICSB Youth Initiative. This promising endeavor has the potential to become one of ICSB’s most crucial signature products in the next two years, empowering youth and nurturing entrepreneurship. Watch for this! 
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  • Engaged Past Chairs and Board Members
    Our immediate past chairs, Dr. Winslow and Mr. Ahmed Osman, have been tireless advocates for ICSB. Their representation at the 2nd Annual Arab SMEs Forum in Marrakesh, Morocco, has yielded positive impacts, and we eagerly anticipate further collaborations. Additionally, our esteemed board members, including Analia Pastran, Norris Krugger, Zakara Taib, and Rita Grant, have been at the forefront of essential initiatives, ensuring that ICSB remains at the cutting edge of entrepreneurship.
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  • A Year of Exciting Prospects
    Looking ahead to 2024, our calendar is filled with exciting events. We are returning to Europe to host our 68th World Congress in Berlin, Germany, under the theme “Empowering Entrepreneurship for a Better Future.” Dr. Hartmut Mayer, ICSB Board Member and co-chair of the ICSB Congress in Berlin has assembled an expansive partnership group, setting the stage for a groundbreaking event.
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•        Africa – Our long-awaited Initiative

•        Expanding our footprint in Africa is not just a professional goal; it’s a personal one.      
•        Africa has long been my focus because of its immense potential and vibrant 
•        entrepreneurial  spirit. In March, we will reveal a sustainable plan for ICSB’s 
•         engagement in Africa, a continent with opportunities and possibilities. This initiative 
•         promises to transform the lives of countless MSMEs and drive economic growth 
•         across the continent.
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•        AI: A Catalyst for Transformation
•        In a world rapidly transformed by artificial intelligence (AI), ICSB is on the cusp of 
•        launching a primary new website that leverages AI. This initiative will revamp our 
•        membership model and knowledge hub, positioning our site as the premier source of 
•         knowledge for MSMEs globally. It’s an exciting leap forward in our digital 
•         transformation journey.

As we approach the new year, let us carry the spirit of innovation, resilience, and collaboration that has defined 2023 into our future endeavors. Together, we are pioneering change, fostering innovation, and empowering small businesses worldwide. Our shared vision of a brighter future for MSMEs continues to drive us forward.

I extend my heartfelt gratitude to each of you, our members, partners, and supporters, for your unwavering dedication to the cause of entrepreneurship and small business. Your passion and commitment have been the driving force behind our achievements.

I wish you and your loved ones a joyful holiday season and a new year filled with prosperity, innovation, and continued success.

With warm regards,

Dr. Ayman ElTarabishy
President & CEO, ICSB