The Bermuda Economic Development Corporation is to hold open houses on Thursday at its incubator hubs in North East Hamilton and St George.

The events are being held to acknowledge the essential role that micro, small and medium-size enterprises play in driving economic growth and creating jobs, including for disadvantaged groups, across the globe.

The United Nations General Assembly officially recognises June 27 as MSME Day to highlight the significant contributions these enterprises make to the global economy.

MSMEs represent 90 per cent of all businesses, generate 60 to 70 per cent of employment, and contribute 50 per cent of the global GDP, according to UN data.

The open houses will be held from 11am until 7pm at the Donald French building at 19 Elliott Street in Hamilton and on the upper floor of 11 Water Street in St George.

Donte Hunt, director of the MSME unit at the BEDC, said: "Recognising the significant contributions of small businesses to our local economy is essential.

“MSME Day provides a global platform to do so, but we should support these businesses daily. Shopping locally creates a positive ripple effect throughout the community and highlights our unique Bermudian culture."

He added: "I encourage everyone to stop by our open houses, ask questions, and learn more about how the BEDC can support your business."