The United Nations Industrial Development Organization (UNIDO) has published a guide with necessary steps to reopen micro, small and medium enterprises (MSMEs). It is structured into several chapters adressing the most pressing issues, in a logical sequence: preparation, financing, market position and survey, strategic thinking, employees, equipment, marketing and prices.

According to this guideline, the principles guiding the business recovery process are based on the notion that it is important to:

• be quick and realistic in understanding the situation of the business following the COVID-19 epidemic;
• capture key factors determining future profitability of the business after obstacles created by and restrictions imposed due to the COVID-19 epidemic have been lifted;
• ensure business recovery plans drawn up are sufficiently robust to enable continuity of the business;
• check whether there is any way to apply the “build back better” principle (i.e. making use of the crisis to reduce business risks such as epidemics and possibly also to improve and/ or expand the business);
• minimize losses where viability is not feasible.

To access the guideline, please click here.

To discuss this subject on the COVID-19 Forum, please click here.