Micro, Small and Medium-sized Enterprises
In 2013, UNCITRAL agreed that work on reducing the legal obstacles faced by micro, small and medium-sized enterprises (MSMEs) throughout their life cycle, in particular in developing economies, should be added to the work programme and that it should start with a focus on the legal questions surrounding the simplification of incorporation. In 2014, Working Group I commenced work in this area focusing on streamlining of business registration and developing a simplified business form particularly suitable for MSMEs. The UNCITRAL Legislative Guide on Key Principles of a Business Registry (2019) sets out key principles and good practices with respect to business registration, and how to implement the necessary reforms for its simplification. Working Group I is currently finalizing the draft legislative guide on an UNCITRAL Limited Liability Organization (UNLLO). In 2019, the Commission requested the Secretariat to start preparing draft materials on access to credit for MSMEs for consideration by Working Group I. Working Group V has been focusing on the needs of micro and small enterprises for a simplified insolvency regime.