MICRO, small and medium enterprises (MSMEs) are the backbone of economies worldwide, playing a crucial role in job creation, innovation and growth. The United Nations organizes annually MSME Day on 27th of June to raise awareness of their significance in achieving the Sustainable Development Goals.

In the Philippines, the Magna Carta for MSMEs declares the second week of July as the National MSME Week. The aim is to institute continuing awareness of the primacy of small business in nation-building and in people empowerment, and to celebrate and espouse the firm commitment of the State in the promotion, growth, and development of small business. This year, the Department of Trade and Industry adopted the theme 'Upgrade, Upskill, and Upsize MSMEs.'