Small Medium Businesses (SMBs) were sucker-punched by COVID-19. The whole situation has had a massive impact on the SMB sector – non-operational factories, eroding working capital, rent, high-interest rates, liquidity crunch, migration of workers, uncertain consumer behavior, recurring fixed costs, to name a few. SMBs are facing unprecedented challenges during this global pandemic. It is no longer a mere bump in the road but a fight for survival.
How will SMBs overcome these challenges? What are the steps they can take to cushion the blow? How can the Government and Technology companies help SMBs overcome these challenges brought on by COVID-19?