Small and medium enterprises (SMEs) are the backbone of economies, playing a crucial role in a country’s overall production and are core to sustainable socioeconomic development.
But all over the world, there is growing evidence of the significant impact the pandemic has on SMEs in both developed and developing countries. This white paper examines the challenges faced by SMEs.
Using data from the OECD, the IMF and JPMorgan Chase Institute amongst others, we will highlight how the most important challenge to operate and grow, is access to financing for business development and working capital. Demonstrating how access to supply chain finance is a real opportunity to help SMEs improve their survival odds whilst establishing the foundation for a strong and accelerated recovery.
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