The SME Action Platform works as a one-stop-shop for SMEs to overcome the challenges brought by the COVID-19 pandemic, combining different streams of work on preparedness, response, and recovery.
SMEs play a vital role in global economic development, particularly in developing countries where they work as drivers for inclusive and sustainable growth.
However, SMEs suffer the highest impact in times of crisis, but work as the main drivers of job creation after crisis.
Poverty and inequalities are at their highest levels and widening due to the COVID-19 crisis. Globally, there are 2 billion informal workers, according to ILO who are the hardest hit among vulnerable groups.
The SME Action Platform aims to provide to small growing businesses and the informal sector access to strategic resources that enable them to perform as key drivers for inclusive and sustainable growth, namely by:
1. Increasing Business Resilience
• Connect small growing business and informals with actionable tools on finance, marketing support, and human resources
• Digital transformation
2. Increasing Business Competitiveness
• Provide a platform for trainings and knowledge sharing
• Bring best practices on crisis management, inclusive business and
• Connect with strategic partners at the local level