The Fair Trading Commission (FTC) recognizes June 27th as World MSME Day 2020, and underscores the need to support Micro, Small and Medium-sized Enterprises (MSMEs) through programmes geared at stimulating activity and their growth and development. Micro, Small, and Medium-sized firms are crucial to economic development, and this is acknowledged within the framework of the Fair Competition Act and in the work of the FTC.
Notably, MSMEs are active in many sectors, and the FTC is focussed on ensuring a level playing field for all market participants in all industries. MSMEs are encouraged to innovate and to bring added value and choices to consumers as these factors will inevitably lead to more competitive prices.