Policymakers need to adapt policies and institutions to enable small businesses to make a greater contribution to post-pandemic economic revival.
In an effort to aid in the COVID-19 recovery, micro, small, and medium companies (MSMEs) must have more assistance because of their inventive and enterprising character. Post-COVID-19 social and economic recovery assistance must be designed with the mission’s goals in mind.
the foundation of the global economy
The global economy relies on small and medium-sized enterprises (SMEs), which account for around two-thirds of global employment and 80 percent to 90 percent of all jobs in poor nations.
Simultaneously, they have a heavier burden when it comes to epidemic-related problems. They are too dominant in the less-necessary industries whose businesses have been negatively affected by confinement. There has been tremendous income loss, and many companies have had to close their doors.
Because they are smaller, MSMEs are more adaptable and can adapt to new settings like COVID-19’s.
Countries who are not productive or do not have adequate economic diversity may now have an easier time increasing their recovery as these funds may assist them in not only overcoming previously existing restrictions but helping them make a long-term return.
