Access to Sustainable Finance in Stimulating SME Growth and Economic Resilience in the United States for Overall Economic Growth and Development

Oghenevwire Okugbere
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Oghenevwire Okugbere: Fairfax University of America, Canada

International Journal of Research and Innovation in Social Science, 2025, vol. 9, issue 1, 1053-1057

Abstract: According to the World Bank(Oct 16, 2019), “SMEs represent about 90% of businesses and more than 50% of employment worldwide and SMEs contribute up to 40% of national income (GDP) in emerging economies†. Every successful US regime in the last few years has made small and medium-sized enterprises (SMEs) an integral focus on their agenda. SMEs to the U.S. economy, has contributed significantly to job creation, innovation, and economic development. These businesses represent approximately 99.9% of all firms in the U.S. and employ nearly half of the private workforce (U.S. Small Business Administration, 2020). Ensuring that SMEs have access to sustainable finance is crucial for their growth and resilience, especially in the face of an evolving economy that prioritizes sustainability and climate action. Sustainable finance offers an essential route for businesses to grow while addressing environmental, social, and governance (ESG) considerations. This article explores how sustainable finance impacts SMEs, how it stimulates growth, and its broader implications for U.S. economic growth and development.

Date: 2025
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