The MSMEs play a key role in employment generation, capital injection to the economy and promote greater economic inclusivity. Gender gaps and other societal challenges through entrepreneurship for women, youth, and groups in susceptible situations are addressed by economic inclusivity - across countries and at all levels of development.
Given these imperatives, it is worth noting that standards could play a significant part in helping MSMEs achieve sustainable development goals because standards can assist businesses to build customer confidence that ensure products are safe, reliable, and transactions are secure.
Furthermore, standards would contribute to increasing productivity, cost effectiveness and will pave the way for new market opportunities as standards help in addressing trade barriers, build competitiveness which enable to gain market access across the globe and participate in the global value chain.
Henceforth, MSMEs’ adherence and adoption of international standards could benefit businesses as it mitigates the risks because of the frameworks, processes, and procedures that ensure product safety and services.