Resilience for Small Business: Financial Mechanisms for SMEs during COVID-19
SMEs create seven out every ten jobs, but most do not have the liquidity to stay afloat as the COVID-19 crisis continues unabated. Surveys compiled by the OECD estimate that, if confinement measures last seven months, more than 50% of SMEs would face a shortfall of cash. As part of the United Nations' response to the pandemic, UNDP is leading socio-economic recovery globally, providing strong support to small businesses through risk and insurance finance facilities and a dedicated platform for digital resources. This session of the BCtA 10th Annual Forum explores how small businesses can raise capital and COVID-proof their business with the support of public and private sector partners to ensure business continuity. It will highlight resources and best practices available to SMEs for accessing finance, networks and partnerships that can help them build resilience for the future.