The International Trade Centre has developed the 15 Point Action Plan for micro, small and medium-sized enterprises (MSMEs), business support organizations and governments. The plan supports internationally minded MSMEs through the crisis and allows them to be on the forefront of generating resilience, inclusiveness, sustainability and growth in the future. Business support organizations play the important role of agile, expert and trusted connectors between MSMEs and the government. Following are the points:
Recommendations for businesses
- Adapt business processes by applying common-sense precautions and restructuring operations.
- Optimize cash management and identify efficiency gains.
- Re-orient your activities and your resources to ensure business continuity during the lockdown.
- Foster relationships by improving communication with partners and employees.
- Build business models that foster resilience, inclusiveness and sustainability and ride the digital wave.
Recommendations for Business Support Organizations
- Channel the flow of trusted information and build bridges to rapidly deploy solutions.
- Coordinate collective actions by MSMEs for resilience, scale and efficiency.
- Be both global and local to inform and reduce the risks that business owners must take during the crisis.
- Use digital platforms to enhance the competitiveness and agility of your MSMEs to reach customers.
- Be a leader in enabling MSMEs to thrive within a digital, global economy geared towards resilience, inclusiveness and sustainability.
Recommendations for governments
- Resist the allure of trade protectionism, as it could lead to a shortage of essential goods.
- Expand and facilitate access to trade finance for MSMEs, including those run by women or young entrepreneurs.
- Facilitate cross-border trade in goods and services and streamline the movement of essential products.
- Spur the digitalization of trade documents and procedures, in collaboration with the private sector.
- Prepare to operate in a digital, global economy geared towards resilience, inclusiveness and sustainability.