The MSME Council has noted with concern the pervasive issue of inconsistent definitions of Micro, Small, and Medium Enterprises (MSMEs) or Small and Medium Enterprises (SMEs) across various sectors and institutions. Founder of MSME Council PNG, James Gore stated that this lack of uniformity in defining MSMEs has significant repercussions on the formulation and execution of policies by the government, financial institutions, and other stakeholders. “The varied interpretations of what constitutes an MSME or SME have led to confusion and inefficiencies in the implementation of supportive measures and interventions aimed at fostering the growth and sustainability of these vital economic entities.” “The lack of a standardized definition exacerbates challenges faced by MSMEs in accessing financial services, government support programs, and other resources critical for their development.” The MSME Council emphasizes the urgent need for a consistent and harmonized definition of MSMEs that is universally recognized and adopted by all relevant parties, including government bodies, development partners, financial institutions, and industry stakeholders. Mr. Gore added that a standardized definition will enhance transparency, promote fairness, and facilitate the effective targeting of policies and initiatives to address the specific needs of MSMEs across different sectors. “We call upon all concerned parties to rally behind this crucial initiative and work towards establishing a clear and unambiguous definition of MSMEs that can serve as a common reference point for all stakeholders.” “By aligning our understanding of MSMEs, we can unlock the full potential of these enterprises and create a more conducive environment for their growth and contribution to the economy.” Meanwhile, he has assured the nation that the MSME Council stands ready to collaborate with relevant stakeholders to drive this agenda forward and ensure that the interests of MSMEs are safeguarded through a consistent and cohesive approach to defining and supporting these enterprises.