Sign in Subscribe
Economic growth

World Accreditation Day Highlights Importance of Accreditation for Small and Medium-sized Enterprises

Strategic Insights

— 1 min read

World Accreditation Day was marked by the Institute for Accreditation of Bosnia and Herzegovina on June 9, alongside over a hundred accreditation bodies worldwide. The theme this year is 'Accreditation: Empowering Small and Medium-sized Enterprises (SMEs)', focusing on the role of accreditation in empowering SMEs as drivers of economic growth, innovation, and employment. SMEs are crucial in achieving the UN Sustainable Development Goals, particularly Goals 8 and 9, but face challenges such as market access, competitiveness, and regulatory compliance, as well as financial constraints that hinder their growth and competitiveness.

Key Takeaways:

  • SMEs globally make up 95% of businesses, employ 60-70% of the workforce, and account for about 40% of national income in developing countries.
  • Accreditation serves as external validation of organizations that provide conformity assessment services, adding an extra layer of quality assurance and guaranteeing that products, services, and processes meet established criteria.
  • In Bosnia and Herzegovina, over 90% of accredited bodies are micro, small, and medium-sized enterprises, making up about 99% of all businesses in the country, employing around 70% of the workforce.
  • Accreditation is a proven instrument that enables SMEs to achieve sustainable growth and innovation, differentiating themselves and establishing trust with their clients through the application of standards and independent conformity assessments.
  • Institutes Director Dražan Primorac emphasized that accreditation is essential for promoting inclusive and sustainable economic growth, employment, and decent work for all.

Statistics:

  • 95% of businesses globally are SMEs.
  • SMEs employ 60-70% of the workforce globally.
  • SMEs account for about 40% of national income in developing countries.
  • Over 90% of accredited bodies in Bosnia and Herzegovina are micro, small, and medium-sized enterprises.
  • SMEs make up about 99% of all businesses in Bosnia and Herzegovina.
  • SMEs employ around 70% of the workforce in Bosnia and Herzegovina.

Sources:

  • Institute for Accreditation of Bosnia and Herzegovina
  • European co-operation for Accreditation (EA)
  • International Accreditation Forum (IAF)
  • International Laboratory Accreditation Cooperation (ILAC)
  • UN Sustainable Development Goals

Read more