Competitive markets

Save lives. Save livelihoods. Save Our SMEs.

  • 30 April 2020

As COVID-19 continues to threaten lives and livelihoods, action is needed from governments, private sector leaders and international institutions to ensure the continued viability of our MSMEs.

ICC has launched a one-stop shop for policy recommendations, resources and support to Save Our SMEs (SOS).

The new portal launched today as part of a global campaign to #SaveOurSMEs, which aims to keep micro-, small, and medium-sized enterprises (MSMEs) afloat during the COVID-19 crisis and support their rapid recovery post-pandemic.

Some of the most severe economic impacts of the pandemic are being felt by MSMEs, which account for up to 80% of employment in many countries. These companies are the backbone of the global economy and fundamental to the day-to-day provision of goods and services around the world yet reports indicate that many MSMEs do not have enough working capital to last more than thirty days.

The SOS site highlights the challenges MSMEs face and features calls for urgent and coordinated action from governments, private sector leaders and international institutions to ensure their continued viability.

The site also features news updates and a mailing list sign up form to receive regular updates on activities to support small businesses around the world and save lives and livelihoods.

Commenting on the launch of the SOS global campaign ICC Secretary General John W.H. Denton AO said:

“The COVID-19 pandemic is a monumental health crisis that has also quickly become a global economic crisis, threatening the continued operation of MSMEs and the livelihoods of workers everywhere. Given the role of MSMEs as the backbone of the global economy, ICC is working closely with world chambers and our global network to raise awareness of the plight of these vital businesses, to provide trusted policy advice and concrete tools to help save them.”

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