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Conference on Economic advocacy for SMEs to tackle the Covid-19 crisis - Shared screen with speaker view
Abdulaziz Alkuwari
good afternoon everybody
Welcome everyone. Please use the chat function to raise you questions.
Tina Seychelles
hi, from Seychelles Employers. in line with the just presented statement, what about the Tax system for SMEM;s in country where is so complicated and discriminatory in small island state. Is any possible assistance from the IOE to support the SMEMS and self employed business which falls into micro enterprise to be assisted and guided to review and improve the tax system? as assistance to the businesses is now dictated by the tax situation of a busines (if in order, can eventually be assisted, if in default is dismisses).Thank you
Farooq Ahmed
Sustainability is the fundamental challenge of SMEs. There is no significant alternative but to inject direct cash to the SMEs for their operation. What is your advise for the policy makers to inject cash to the SMEs at low interest where the governments are
Farooq Ahmed
for their own survival
Patricia DRC
To ensure business continuity,loans need to be given a 0% rate to SME's and collateral should be guaranteed by goverment...
Akustina Morni (IOE)
One of the key challenges for small businesses is access to cash/liquidity, as mentioned. Running any business is a risky endeavor, and small businesses are particularly vulnerable. There is evidence that half of small businesses rarely last longer than five years. Overhead costs like rent, salaries and utilities leave very little liquid cash to owners, especially in the early years. Add to that the lack of revenue from slowing services due to the pandemic, and our entrepreneurs will be devastated. How can liquidity and solvency effectively reach MSMEs in the short and medium term? There are still issues of bureaucracy, rigid rules, high volumes of paperwork and other barriers to aid.
Viveros Anorve, Jose Luis
Question 1: in the context of the recovery phase of the ongoing crisis, what do you propose to restore a conducive environment for MSMEs development?
Viveros Anorve, Jose Luis
Question 2: what do you propose to enhance the transition of MSMEs to the formal economy?
Patricia DRC
Cost of telework is high so not viable in developing countries for SME's. 7Giga cost 25$ in DR Congo .One webinar uses 3-4 Giga and this last 1h30 max. Imagine telework on a daily base!?
Tina Seychelles
MSMS dont have for the majority of cases collaterals (this is as our situation in Seychelles) and acsee to liquidity post pandemic to develop/digitize is really difficult. What will be your advise for those who want expand the way of doing business, using AI for the business but with lots of limitation in the liquidity ?
Farooq Ahmed
No 1 priority for the MSMEs is the cash support. IT may be direct cash or kind which directly assist cash support. Rest everything is secondary....MSMEs in South Asia is in dare state
Tina Seychelles
plus the network / internet in the region is really unstable (like just right now ...NO AUDIO) so how can island state compete with mainland and furthermore to EU?
Tina Seychelles
not only unstable but also quite expensive compaire to Mainland and EU
Sergio Drucaroff
Financial support is crutial for SMEs, but financial support in this context means something completely different in this COVID-19 pandemic context. Loans must be repaid eventually, but activity in many sectors is stopped, uncertainty over repayment capacity is huge. Are you preparing a second round of financial aid for general rescue of SMEs? Specially for countries like Argentina that just beginning the Winter having already passed a 90-day highly restrictive quarantine. Thanks
Ahmed Mahmoud
we as responsible entities for MSMES have to be more creative as we are witnessing global challenge of providing PPE and ventilators so why do not international development partners direct their seed funds toward supporting R&D centers to manufacturer the prototypes of life saving equipments and then the
Viveros Anorve, Jose Luis
everyone talks about financing. It surely matters, but to get financing it is essential to increase MSMEs' productivity. What do you propose to enhance their productivity?
Ahmed Mahmoud
these centers can resell these prototypes on a commercial basis to Smes and entrepreneurs and create an opportunity for them to fill the market gap in provision of protective products
Farooq Ahmed
Congratulations to World Bank for such a lofty support. Unfortunately we are yet to see on the ground till now. May be we see in future. We are eagerly waiting for that
Bahy Yassin
The world bank already plays a crucial role in the global economy. The current crisis brought on by COVID-19 pushed SMEs to the heart of the crisis. According to OECD over 50% of SMEs could not have the ability to survive in the few months. As a result, the collapse of SMEs globally should affect negatively the global economy and the national economies, as well. Since the SMEs are the milestone of the global economy. The governments around the world should adopt structural policies to help SMEs to survive and increase their resilience. These policies should focus on tax cut, facilitating access to finance as a must and easing of doing business to help SMEs to work easily with a low level of obstacles related to the procedures. I think the World Bank should help developing countries to enhancing their doing business.
Farooq Ahmed
My very humble submission to the very distinguished learned speakers. Capacity and internal strength of most of the MSMEs are very weak. Many of them will not understand your language. My humble request will be to be more at the ground level in your perception and philosophy. Thank you all. You are all very knowledgeable.
Dawit (David) Moges
Why are small business more vulnerable than larger (bigger) ??? It was the larger ones were the ones making the big noise as they had larger financial burdens and commitment than their counter parts????
Elizabeth Moses-Mullard
The problem I anticipate with the World Bank's programme is the basic architecture of the Bank as Inter-Governmental, hence, Governments tend to control the funds which in some countries do not reach the targeted groups.
Very insightful presentations and submissions from the presenters. This has been very educative and helpful indeed.
María Roldán
Join us next Monday, 29 June at 14:00 (CET) in a high-level conversation on Covid-19 and climate action! https://www.ioe-emp.org/no_cache/en/news-events-documents/news/news/1592403517-climate-change-action-in-a-post-covid-19-landscape/