According to the 2016 ILO Report, 2.8 billion individuals were employed by the private sector, which represents 87% of total employment, with the remaining 13% in non-market services. Although private enterprises’ share of employment differs across countries, a strong private sector is a foundation for growth, job creation, and poverty reduction.
It is universally recognized in the United Nations 2030 Agenda for Sustainable Development and the Sustainable Development Goals (SDGs), which explicitly refer to the role of entrepreneurship and the formalization and growth of micro, small, and medium-sized enterprises (MSMEs) in achieving the goal of decent work and economic growth.
The ILO “World Employment and Social Outlook 2017 Report” shows that a range of country-specific factors, such as, labor market institutions, historical patterns of organization, access to trade and global supply chains, market size and financing availability, affect firm growth and, in some instances, explain the persistence of informality — which can have widespread, negative consequences for businesses, workers and society.
The 500 million small and medium-sized enterprises (SMEs), representing around 95% of all businesses around the world, are integral to global supply chains. SMEs, that are proactively addressing sustainability issues and transparency, are in a better position to gain access to new value chains and improve their business. In addition, given their dominant share of the global economy, responsible business conduct among SMEs is essential to a sustainable future.
SMEs and Sustainable Future
A global dialogue for SMEs is seen as the most efficient and effective way to involve SMEs in the responsible business movement. Given their collective reach and dominant role in the global economy, SME adoption of responsible business practices is essential for a thriving global community that lifts humanity and enhances the resources on which all life depends.
WeBuy is creating a completely new experience for buyer and seller communication. The platform allows sellers to communicate with interested buyers through paid outreach plans. Buyers, not only get their services or products in need catered but also receive a share of the outreach fee paid by the seller.
This model creates a sustainable loop that would allow the buyers and sellers to continue to grow in a win-win ecosystem. In addition, buyers can contribute to the ecosystem through the referral network. The platform allows buyers to introduce new sellers.
WeBuy and New Value Chains
WeBuy takes on the monopoly of the advertising giants and gives the power and money back to the buyer. As a result, WeBuy is enabling SMEs to promote their products and services to those interested, quickly, simply, and at minimum cost.
The capacity of SMEs to generate job growth, relative to large firms, increases with income per capita. In developing economies, the rate of job creation among SMEs is similar to that for large firms, but in emerging and developed economies, employment growth is higher among SMEs than large firms (although the premium relative to large firms is considerably lower in emerging economies than that in developed economies).
This may reflect the fact that many SMEs in developing economies, and to a lesser extent in emerging economies, are entrepreneurs out of necessity, whose primary focus is to survive and not necessarily to expand.
- In the WeBuy platform, created and owned by buyers, buyers are able to recruit sellers on WeBuy in order to establish their very own Buyer Referral Network (BRN).
- With the BRNs, innovation is encouraged, which is a crucial source of competitiveness for enterprises, as well as a key driver of sustained growth and development.
- Overall, innovation leads to better labor opportunities, as expanded trade stimulates employment growth by providing SMEs opportunities to enhance their competitiveness, to export to foreign markets and to make use of the best available production inputs through importing.
WeBuy Assures Transparency and Sustainable Growth
- WeBuy will be completely transparent and will operate autonomously with no entity controlling it. Its data and records of operation will be cryptographically stored on a public, decentralized blockchain.
- WeBuy will generate tokens, set criteria, and distribute utility tokens from day 1.
- WeBuy will adapt its protocol in response to proposed improvements and market feedback based on a majority consensus of all WeBuy users.
Support your local SMEs. Support empowerment of 500M SMEs through WeBuy!