SBHNov2023

SBHNov2023

Small Business Horizon November 2023 Issue
AI Revolution and the Future Ahead

In the newest issue of Small Business Horizon Magazine (SBH), we are excited to present a fascinating feature that intersects the evolution of technology with the timeless appeal of music. Artificial intelligence has now reached the realm of cultural nostalgia, reviving the music of The Beatles and John Lennon for the ears of a modern audience.

Latest Magazine Issue: https://issuu.com/aymanelt/docs/sbhnovember2023

This technological masterpiece reflects an unprecedented collaboration between artificial intelligence and the arts. AI, having delved into the rich musical archives of The Beatles and Lennon, has emerged with a creation that marries the band’s and the artist’s signature elements with contemporary flair. By processing their intricate songwriting patterns, distinctive melodies, and harmonies, the AI has managed to produce a song that simultaneously harkens back to the Beatles’ and Lennon’s groundbreaking era and appeals to today’s listeners.

Our latest SBH magazine explores how this synthesis of AI and musical genius not only pays homage to John Lennon’s influential legacy but also signals a new era where technology redefines the boundaries of creative expression. As we reflect on Lennon’s impact, which transcended music and touched upon the themes of peace, love, and social consciousness, this AI endeavor is a powerful testament to his enduring influence.

Join us in this newest issue as SBH delves into innovative developments, celebrating how small businesses and the broader entrepreneurial ecosystem can draw inspiration from such cross-disciplinary innovations. Dr. Ayman El Tarabishy, our esteemed Editor and an advocate for small business dynamism, invites you to explore how the revolutionary spirit of figures like John Lennon continues to inspire and how it can inform the future of small business strategy and innovation.

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USATopSME2023

USATopSME2023

The United States 2023 Top Small Businesses

On October 19, 2023, the U.S. Chamber of Commerce held its first America’s Top Small Business gala to honor this year’s seven regional finalists, who were chosen from a pool of nearly 15,000 applicants, and also announced the grand prize winner, who took home the $25,000 cash prize! 

ICSB recognizes the U.S. Chamber initiative and congratulates all the finalists and winner.

The U.S. Chamber announced that our 2023 grand prize winner for America’s Top Small Business:

Winner: Elderly Instruments of Lansing, Michigan!

Elderly Instruments, our Great Lakes region finalist, is a family-owned music shop with a mission of being a welcoming musical haven where all people, regardless of their background or musical experience, can play and purchase affordable, quality fretted instruments and accessories at great prices.

Now on its second generation of leadership, Lillian Werbin, daughter of co-founder Stan Werbin, runs the establishment with a staff of nearly 40 full-time employees and remains dedicated to valuing not only her team but also her community, taking part in revitalizing Old Town Lansing and actively supporting both national and local nonprofit initiatives that lift the voices of the LGBTQ+ community and people of color within the bluegrass genre.

[Read more about Elderly Instruments here: Elderly Instruments Aims to Be a ‘Conservator of Musical Heritage’]

The U.S. Chamber also announced the finalists for America’s Top Small Business. The finalists showed exemplary levels of business leadership, ambition, and passion. To learn more about our finalists, check out their profiles below.

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WomeninGlobalMarkets

WomeninGlobalMarkets

Women in the Labor Market and MSMEs Day

In 2023, the International Council for Small Business (ICSB) declared a potent theme for Micro, Small, and Medium-sized Enterprises (MSMEs) Day: “Galvanizing MSMEs Worldwide by Supporting Women and Youth Entrepreneurship and Resilient Supply Chains.” The emphasis was significantly placed on women, not merely as a subtheme but as a predominant discourse, unearthing their pivotal role in the global entrepreneurial landscape.

Some met this theme with resistance, questioning the spotlight on women as a significant focal point for MSMEs Day. However, with the recent commendation of Claudia Goldin, a Harvard University professor awarded the Nobel Prize in economics for her ground-breaking research into women’s income and employment, the discourse seems timely and pertinent. Goldin’s research, which analyzed over 200 years of US data, revealed that the gender pay gap could historically be attributed to differences in education and occupation. Yet, notably, the majority of current earnings disparities arise between men and women in identical works, amplifying post-childbirth.


Addressing the Challenges Faced by MSMEs Globally

The global working environment for entrepreneurs and MSMEs has been staggered by multiple simultaneous shocks and crises, including conflicts, commodity dependence, geopolitical tensions, and pandemics, inducing social and economic instability. This instability renders MSMEs, particularly those owned by women and youth, extremely vulnerable to escalating inflation and supply chain disruptions.

Despite the burgeoning percentage and overall number of business formations by women and youth worldwide, these enterprises often face limited access to affordable finance, capacity-building support, partnership networks, and global markets. These challenges often hinder their business growth, trapping many within informality or necessity entrepreneurship.


Policies and Support for MSMEs: A Step Towards Inclusive Development

Policies that bolster capacities and support the development of MSMEs and entrepreneurship for women and youth must be prioritized. By addressing challenges, lowering and removing barriers, and providing an environment conducive to the growth of women- and youth-owned businesses, we pave the way towards achieving Sustainable Development Goals (SDGs) 1, 4, 5, 8, 9, and 10. Additionally, it honors the “leave no one behind” pledge of the 2030 Agenda for Sustainable Development and its SDGs.


ICSB’s Vision Materializing: More Focus on Women Entrepreneurs

ICSB takes immense pride in witnessing the materialization of its 2023 efforts, as more focus is now being accorded to women entrepreneurs. Our initiative to highlight the importance of women in entrepreneurship was not merely to spark a conversation but to ignite a transformative change in the entrepreneurial ecosystem.

The recognition of Claudia Goldin’s work by the Nobel Prize serves as a testament to the urgent need to address, discuss, and find solutions to the gender disparities in the labor market. It aligns seamlessly with our mission and further validates our thematic choice for MSMEs Day in 2023.

The journey towards empowering women and youth in entrepreneurship, especially within the MSMEs sector, is pivotal for economic growth, societal advancement, and a better future. It is the collective responsibility of global organizations, policymakers, and individuals to continue this momentum, ensuring that the endeavors of entities like ICSB and individuals like Claudia Goldin pave the way for sustainable, inclusive progress worldwide.

by: Dr. Ayman ELTarabishy
President & CEO, ICSB
Deputy Chair, Dpt. of Mgt, W School of Business

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SMEs and Climate Change

SMEs and Climate Change

SMEs and Climate: The Unsung Heroes in the Battle for a Greener Tomorrow

The climate crisis is undeniably one of the most pressing challenges of our time. While much attention is given to the roles of governments and large corporations in addressing this issue, Small and Medium-sized Enterprises (SMEs) are emerging as pivotal players in the fight against global warming. Representing over 90% of businesses worldwide, SMEs are uniquely positioned to make a significant impact. Here’s how:

Historical Context:

Three decades ago, Bill McKibben, author of “The End of Nature,” was among the first to sound the alarm on artificial climate change. His writings in the New Yorker and his groundbreaking book laid the foundation for the global conversation on this pressing issue. Fast forward to the present, and the momentum continues with individuals like Kyle Pope, editor and publisher of the Columbia Journalism Review, and Mark Hertsgaard. They spearheaded “Covering Climate Now,” a global initiative encouraging news organizations to address climate change consistently. With the commitment of over 250 news outlets worldwide, this project underscores the urgency of sustained and impactful climate coverage.

The SME Challenge:

While SMEs have the potential to be significant players in the fight against climate change, several barriers often hold them back:

Time Constraints: SMEs, often running lean operations, might be unable to figure out sustainable practices’ complexities.

Lack of Knowledge: Many SMEs are unfamiliar with or uninterested in buying carbon credits, seeing it as an abstract concept rather than a tangible solution.

Regulation vs. Solution: SMEs typically prefer straightforward solutions over additional restrictions. They seek effective, easy-to-implement strategies rather than more bureaucratic hurdles.

Profitability: For many SMEs, sustainability needs to make business sense. They’re looking for profitable eco-friendly initiatives, not just another expense.

Operational Integration: SMEs often grapple with seamlessly integrating sustainable practices into their operations without disrupting their business model.

An Example: The Ripple Effect of Early Education on Sustainability:

One of the most profound examples of grassroots change in sustainability can be traced back to kindergarten and middle school programs. Early education initiatives that introduced recycling taught children the mechanics of sorting waste and instilled in them the values of environmental responsibility. Armed with newfound knowledge and a sense of purpose, these young students became ambassadors of change in their homes, urging parents to adopt recycling habits. As families began to embrace these practices, the ripple effect continued, influencing broader community behaviors and eventually reaching local businesses. It was, in essence, the younger generation that catalyzed this transformative shift. This phenomenon serves as a powerful testament to the influence of early education on societal habits and offers a promising blueprint for introducing climate change products and services. By targeting educational initiatives at a young age, we can hope to foster a generation that understands the importance of sustainable practices and actively champions them in every sphere of their lives.

The Potential of SMEs:

Flexibility and Innovation: SMEs possess an inherent agility that many more giant corporations lack. This allows them to swiftly adapt to new technologies and market demands, pioneering innovative green solutions.

Localized Impact: By adopting sustainable practices, SMEs can inspire change in their communities, influencing suppliers, competitors, customers, and beyond.

Green Products and Services: With the rising demand for sustainable products, SMEs have the opportunity to tap into this burgeoning market.

Energy Efficiency: Simple measures can significantly reduce an SME’s carbon footprint.

Sustainable Supply Chains: SMEs can amplify their positive environmental impact by making eco-conscious choices in their supply chains.

Employee Engagement: SMEs can foster a company culture that champions sustainability.

Advocacy and Awareness: SMEs can leverage their platforms to champion climate-friendly policies and raise environmental awareness.

Aligning with Global Goals:

The United Nations’ Sustainable Development Goals (SDGs) offer a blueprint for global sustainability, and SMEs play a crucial role in realizing these objectives.

ICSB’s Emphasis on Climate:

The International Council for Small Business (ICSB) has long advocated for sustainable business practices, especially in the context of climate change. Recognizing the pivotal role that small businesses play in the global economy, ICSB has consistently emphasized the importance of climate action, not just as an environmental necessity but also as a business imperative.

One of the most notable ways ICSB has brought attention to this issue is through its “Top Ten Trends” publication. Year after year, climate change has featured prominently on this list, highlighting its significance and urging businesses, especially Small and Medium-sized Enterprises (SMEs), to take proactive measures. This consistent emphasis serves as a clarion call for SMEs to recognize the imminent threats posed by climate change and to adapt their business models and practices accordingly.

Furthermore, the annual MSMEs Day, championed by ICSB, presents a golden opportunity to further the climate agenda. Micro, Small, and Medium-sized Enterprises (MSMEs) Day is a celebration of the entrepreneurial spirit and a platform to discuss and promote sustainable business practices. By integrating climate-focused workshops, panels, and discussions into the MSMEs Day agenda, ICSB can further its mission of equipping businesses with the tools and knowledge they need to combat climate change.

ICSB’s collaboration with the STGC (Sustainable Tourism Global Center) initiative has also been instrumental in promoting sustainable business practices. The STGC initiative, in partnership with ICSB, works towards creating a more transparent and accountable global commerce ecosystem. By emphasizing the importance of sustainability, transparency, and ethical business practices, the STGC initiative, backed by ICSB, is paving the way for a greener and more responsible global business landscape.

In conclusion, ICSB’s unwavering commitment to climate action, its influential platforms like the “Top Ten Trends” and MSMEs Day, and collaborations like the STGC initiative position it as a leading force in the global movement towards a sustainable future.

In Conclusion:

While they may not have the vast resources of multinational corporations, SMEs have the agility, community influence, and innovative spirit to make substantial strides in addressing climate change. Their extensive and small actions contribute to a collective effort pushing us towards a more sustainable future.

In the climate narrative, SMEs are not just supporting characters but leading protagonists.

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One-Year Remembrance

One-Year Remembrance

One-Year Remembrance

Saturday March 13, 2021, by Ayman El Tarabishy, President & CEO, ICSB

Dear ICSB Family,

Anniversaries are a moment for self-reflection, for remembrance, and occasionally, a moment for change. Today as we pass the one-year mark of COVID-19 lockdown in the United States and the corresponding global fallout, we believe that this specific moment creates space for us to reflect, to remember, and to change.

At ICSB, we believe strongly in creating a more humane and sustainable world. This past year has shown just how enormous and difficult this task can be. But at the same time, the overwhelming resilience, strength, and love that people have shown as they navigate this enormously traumatic year, has been wondrous and humbling to experience. The spirit of the people is clearly and demonstrably behind these core concepts of human-ness and sustainability, and there seems to be change in the air. So, where do we go from here?

One year ago, the rapidly changing world forced us to reflect on what we believe in and what services and opportunities we offer. Pre-COVID, ICSB worked with more traditional forms of communication, emphasizing in-person conferences. We quickly realized flexibility and adaptability were the two main paths forwards, after we ensured the well-being of our employees and community. Over the past year, we’ve completely re-worked our operations by building out journals and other academic resources, and by prioritizing new digital infrastructure, including social media and a re-designed website. We transitioned away from focusing mainly on in-person collaborative conferences to a more decentralized and accessible approach, which created new and unique opportunities for traditionally marginalized actors to participate and grow within spaces that have traditionally been closed off to them. We look forward to continuing to grow and innovate as we meet and adapt to the challenges ahead.

There would be no opportunity for growth or innovation without you, our family, engaging with and challenging the material and resources we provide. This entire process is a collaborative effort, and we sincerely appreciate the support you have shown us as we iron the details out and begin to solidify a long-term approach towards business education and collaboration. In that spirit, this summer will mark the 2021 ICSB World Congress, where we will focus on and emphasize Humane Entrepreneurship as a foundational part of our future in the business ecosystem. This will mark the first major conference since the beginning of the pandemic and we look forward to incorporating the lessons we have learned throughout this past year, as we begin a new chapter in the fight for a more humane and sustainable world. We look forward to collaborating with you, both this summer and beyond.

In solidarity,
Dr. Ayman El Tarabishy
ICSB President & CEO

Author

”Ayman

”Ayman

”President