Chennai: Disruptions in the Strait of Hormuz could disproportionately affect small and medium firms, which account for 70% of global employment, finds the UN’s trade and development body, UNCTAD.
“When SMEs falter, growth becomes less inclusive and less resilient,” finds the report.
Small and medium-sized enterprises (SMEs) account for around 90% of businesses globally, 70% of employment and 50% of GDP. They are also crucial suppliers of goods and services across value chains, supporting entrepreneurship, innovation and economic…