Small and Medium Enterprises in the Pandemic : Impact, Responses and the Role of Development Finance
This study highlights how COVID-19 has affected small and medium enterprises, drawing on newly released World Bank Enterprise Surveys in 13 countries. The study shows that firms of all sizes are severely affected in multiple dimensions; however, fi...
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World Bank, Washington, DC
2020
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| Online Access: | http://documents.worldbank.org/curated/en/729451600968236270/Small-and-Medium-Enterprises-in-the-Pandemic-Impact-Responses-and-the-Role-of-Development-Finance http://hdl.handle.net/10986/34552 |
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okr-10986-345522022-09-20T00:09:00Z Small and Medium Enterprises in the Pandemic : Impact, Responses and the Role of Development Finance Adian, Ikmal Doumbia, Djeneba Gregory, Neil Ragoussis, Alexandros Reddy, Aarti Timmis, Jonathan SMALL AND MEDIUM SIZE ENTERPRISE CORONAVIRUS COVID-19 PANDEMIC IMPACT DEVELOPMENT FINANCE PANDEMIC RESPONSE ENTERPRISE SURVEY RECOVERY This study highlights how COVID-19 has affected small and medium enterprises, drawing on newly released World Bank Enterprise Surveys in 13 countries. The study shows that firms of all sizes are severely affected in multiple dimensions; however, firm size matters for the intensity of the different channels of transmission and firms' responses. Small and medium enterprise sales shrink by more and their cash drains faster than large firms in the same sector and country. Among them, faster growing firms experience the demand shock somewhat less severely, but they are more exposed to international trade disruption, supply, and finance shocks. Yet, a range of firm responses to the downturn seem to be out of reach. Fewer small and medium-size enterprises, for example, start remote work, leaving their workers exposed to health risks. To make it through the pandemic, the majority of smaller firms do not turn to banks for loans; they need grants. Although development finance is not enough to fill the financing gap, development finance institutions are relevant -- in investment mobilization, demonstration, and know-how -- as economies move toward recovery and rebuilding. Delivering these requires rapid efforts to build partnerships and gather information in places where development finance has been limited in the past. 2020-10-01T17:16:59Z 2020-10-01T17:16:59Z 2020-09 Working Paper http://documents.worldbank.org/curated/en/729451600968236270/Small-and-Medium-Enterprises-in-the-Pandemic-Impact-Responses-and-the-Role-of-Development-Finance http://hdl.handle.net/10986/34552 English Policy Research Working Paper;No. 9414 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Policy Research Working Paper |
| repository_type |
Digital Repository |
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Foreign Institution |
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Digital Repositories |
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World Bank Open Knowledge Repository |
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World Bank |
| language |
English |
| topic |
SMALL AND MEDIUM SIZE ENTERPRISE CORONAVIRUS COVID-19 PANDEMIC IMPACT DEVELOPMENT FINANCE PANDEMIC RESPONSE ENTERPRISE SURVEY RECOVERY |
| spellingShingle |
SMALL AND MEDIUM SIZE ENTERPRISE CORONAVIRUS COVID-19 PANDEMIC IMPACT DEVELOPMENT FINANCE PANDEMIC RESPONSE ENTERPRISE SURVEY RECOVERY Adian, Ikmal Doumbia, Djeneba Gregory, Neil Ragoussis, Alexandros Reddy, Aarti Timmis, Jonathan Small and Medium Enterprises in the Pandemic : Impact, Responses and the Role of Development Finance |
| relation |
Policy Research Working Paper;No. 9414 |
| description |
This study highlights how COVID-19 has
affected small and medium enterprises, drawing on newly
released World Bank Enterprise Surveys in 13 countries. The
study shows that firms of all sizes are severely affected in
multiple dimensions; however, firm size matters for the
intensity of the different channels of transmission and
firms' responses. Small and medium enterprise sales
shrink by more and their cash drains faster than large firms
in the same sector and country. Among them, faster growing
firms experience the demand shock somewhat less severely,
but they are more exposed to international trade disruption,
supply, and finance shocks. Yet, a range of firm responses
to the downturn seem to be out of reach. Fewer small and
medium-size enterprises, for example, start remote work,
leaving their workers exposed to health risks. To make it
through the pandemic, the majority of smaller firms do not
turn to banks for loans; they need grants. Although
development finance is not enough to fill the financing gap,
development finance institutions are relevant -- in
investment mobilization, demonstration, and know-how -- as
economies move toward recovery and rebuilding. Delivering
these requires rapid efforts to build partnerships and
gather information in places where development finance has
been limited in the past. |
| format |
Working Paper |
| author |
Adian, Ikmal Doumbia, Djeneba Gregory, Neil Ragoussis, Alexandros Reddy, Aarti Timmis, Jonathan |
| author_facet |
Adian, Ikmal Doumbia, Djeneba Gregory, Neil Ragoussis, Alexandros Reddy, Aarti Timmis, Jonathan |
| author_sort |
Adian, Ikmal |
| title |
Small and Medium Enterprises in the Pandemic : Impact, Responses and the Role of Development Finance |
| title_short |
Small and Medium Enterprises in the Pandemic : Impact, Responses and the Role of Development Finance |
| title_full |
Small and Medium Enterprises in the Pandemic : Impact, Responses and the Role of Development Finance |
| title_fullStr |
Small and Medium Enterprises in the Pandemic : Impact, Responses and the Role of Development Finance |
| title_full_unstemmed |
Small and Medium Enterprises in the Pandemic : Impact, Responses and the Role of Development Finance |
| title_sort |
small and medium enterprises in the pandemic : impact, responses and the role of development finance |
| publisher |
World Bank, Washington, DC |
| publishDate |
2020 |
| url |
http://documents.worldbank.org/curated/en/729451600968236270/Small-and-Medium-Enterprises-in-the-Pandemic-Impact-Responses-and-the-Role-of-Development-Finance http://hdl.handle.net/10986/34552 |
| _version_ |
1764481145500598272 |