Coronavirus (COVID-19): SME Policy Responses

01/09/2020    37

Date: July 2020

By: Organization for Economic Cooperation and Development (OECD)

Coronavirus (COVID-19): SME Policy Responses has been prepared by the OECD Centre for Entrepreneurship, SMEs, Regions and Cities (CFE) for discussion by the OECD Working Party on SMEs and Entrepreneurship (WPSMEE). This note discusses how SMEs are affected by the current COVID-19 pandemic, reports on early evidence and estimates about the impact, and provides an inventory of policy responses to foster SME resilience in 60 countries. 

This is the sixth update of SME policy responses since early March 2020. Compared to the previous update, latest forecasts show an increasingly negative impact of the pandemic on global GDP growth. At the same time, whereas surveys since February show that SMEs and entrepreneurs are extremely worried about the impact of COVID-19 on their liquidity position and business survival, the most recent business surveys show some confidence improvements, possibly related to the significant policy efforts to address the SME liquidity gap and the lifting of lockdown measures in a number of countries. In this context, the policy perspective is gradually shifting from liquidity support measures for SME survival, which still remains a priority in most countries, to support for recovery.

The note (in English) is attached below: