What suggestion or solution you have for the owners of Micro, Small, and Medium Enterprise to cope up with pandemic? Give at least (5) strategies or solution on this matter.

ANSWER

MICRO

1.the focus of most businesses for now is on protecting employees, understanding the risks to their business, and in managing supply chain disruption

2.ensure the medium to long-term survival of small businesses by removing impediments to their growth

3.Efforts must be made to remove bureaucratic red tape to allow businesses to open and operate as quickly as possible when COVID-19 restrictions are eased.

4.Support for the agriculture sector innovations can provide further fertile ground for these businesses. Already, small-scale farmers are using innovative technologies and practices to raise yields, manage inputs more efficiently, introduce new crops and production systems, and enhance product quality. With well-targeted support, such practices can be crucial to business survival in the current crisis.

SMALL

1. important for safeguarding jobs and incomes, preserving financial stability, and to revive growth by minimizing disruptions to trade and global supply chains.

2. A second step is to rethink the role of state-owned enterprises to provide extra space for small enterprises to grow. In many countries, state-owned enterprises provide essential services such as power generation, water, sewage, and telecommunications.

3. small businesses can be supported to reinvent their business models using new technologies.

4.improve access to finance and investment for small enterprises, give them more freedom to expand into new sectors, and promote their use of new technologies to better connect with producers, suppliers and consumers.

MEDIUM

1. Quick recovery of these businesses can mitigate the most dire consequences

2.competition and consumer protection frameworks can be improved, especially in markets where participation of governments may be extensive and a few firms dominate key sectors. This reduces consumer choices, keeps prices high, and constrains small businesses. Better consumer protections would reduce the scope for price controls and gouging, which distorts markets and impacts heavily on consumers.

3.A priority is also to give women the tools to realize their potential to run businesses, broadening avenues to contribute to community welfare and economic growth.

4.Instead of having to travel to the nearest major city to see a specialist, tele-health platforms provide virtual diagnosis, treatment, preventive and curative services, as well as training for health care professionals in areas such as epidemiology and pandemic influenza risk communication.