Welcome to Pinnacle Insights

Our Commitment to Micro, Small and Medium-sized Businesses

Micro, small and medium-sized enterprises (MSMEs) represent about 90% of businesses and more than 50% of employment worldwide. In the Caribbean, MSMEs represent 70-85% of businesses and contribute between 60-70% of the Gross Domestic Product. To build a resilient Caribbean and overcome our economic and social challenges, the MSME sector must be fully supported.

UN Sustainable Development Goal number eight (8), "Promote development-oriented policies that support productive activities, decent job creation, entrepreneurship, creativity and innovation, and encourage the formalisation and growth of micro-, small- and medium-sized enterprises, including through access to financial services" highlights the crucial role that businesses (particularly MSMEs) and finance play in creating sustainable development and propelling economic growth.

Pinnacle Outsourced Accounting Solutions, a purpose-driven company, has committed to UN Sustainable Development Goal # 8 and fully supports entrepreneurship and the formalisation and growth of MSMEs. As part of this commitment, we have created Pinnacle Insights to help resolve some of the challenges that hinder the progress and growth of MSMEs.

More about Pinnacle Insights

Pinnacle Insights will give an accountant's perspective on the issues affecting small businesses as it relates to strategy, finance, government regulations, operations, human resources, sales and marketing. Accounting, which is also referred to as the language of business, has evolved from merely record keeping and financial reporting to being vital to every aspect of business; therefore, any insights gained from professional accountants will be essential to the survival and development of businesses.

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References

• Deodat Maharaj, “Supporting Micro, Small and Medium Enterprises, the Backbone of Caribbean Economies”, Caricom Today, July 29, 2021, https://today.caricom.org/2021/07/27/supporting-micro-small-and-medium-enterprises-the-backbone-of-caribbean-economies/#:~:text=According%20to%20the%20Caribbean%20Development,70%25%20of%20Gross%20Domestic%20Product

• The United Nations, “The 17 Goals” https://sdgs.un.org/goals

• ACCA, “Small Businesses-a lifeline to global economies”, 26 June 2022 https://www.accaglobal.com/gb/en/professional-insights/global-profession/practical-toolkits-SMEs-SMPs.html