Supporting small businesses through the COVID-19 crisis and towards the future

Action Plan: Supporting small businesses through the COVID-19 crisis and towards the future

A 15-point action plan for open economies

http://www.intracen.org/uploadedFiles/15point.pdf 

Recommendations for businesses

Prepare your immediate response to the crisis…

1. Adapt business processes by applying common-sense precautions and restructuring operations. 
2. Optimize cash management and identify efficiency gains. 
3. Re-orient your activities and your resources to ensure business continuity during the lockdown. 
4. Foster relationships by improving communication with partners and employees. 

…and get ready for the ‘new normal’. 
5. Build business models that foster resilience, inclusiveness and sustainability and ride the digital wave.

 

Recommendations for Business Support Organizations

Prepare your immediate response to the crisis…

6. Channel the flow of trusted information and build bridges to rapidly deploy solutions. 
7. Coordinate collective actions by MSMEs for resilience, scale and efficiency. 
8. Be both global and local to inform and reduce the risks that business owners must take during the crisis. 
9. Use digital platforms to enhance the competitiveness and agility of your MSMEs to reach customers.

…and get ready for the ‘new normal’.

10. Be a leader in enabling MSMEs to thrive within a digital, global economy geared towards resilience, inclusiveness and sustainability.

 

Recommendations for governments

Prepare your immediate response to the crisis…

11. Resist the allure of trade protectionism, as it could lead to a shortage of essential goods . 
12. Expand and facilitate access to trade finance for MSMEs, including those run by women or young entrepreneurs . 
13. Facilitate cross-border trade in goods and services and streamline the movement of essential products . 
14. Spur the digitalization of trade documents and procedures, in collaboration with the private sector .

…and get ready for the ‘new normal’.

15. Prepare to operate in a digital, global economy geared towards resilience, inclusiveness and sustainability .

 

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