ICC Call to Action - Save our SMEs
The novel coronavirus (COVID-19) is unprecedented health and economic crisis, affecting the lives and livelihoods of workers, as well as the continued operations of businesses globally. By its nature, the disease knows no national borders, and in an era of globally integrated supply chains and capital markets, actions to combat COVID-19 by one national government affect many others.
As the institutional representative of more than 45 million companies in over 100 countries, the International Chamber of Commerce (ICC) is witnessing, first-hand, the severe impacts of COVID-19 on business and people worldwide. Micro-, small- and medium-sized enterprises (MSMEs) and their workers, as well as entrepreneurs and the self-employed, are among the hardest hit.
To combat the economic repercussions of this pandemic, ICC believes that urgent and decisive action by all stakeholders is needed. We call on everyone, including governments, international organisations, multilateral development banks, business organisations, and multi-national corporations, to cooperate and coordinate their actions to “Save Our SMEs”. The immediate objective of all stimulus efforts should be to ensure that money flows rapidly into the real economy—and, in particular, to those most vulnerable to the economic disruptions caused by COVID-19 —as well as ensuring that developing countries receive adequate assistance.
The imperative to Save Our SMEs cannot be understated: this agenda is of paramount importance to safeguard the current and future functioning of the global economy and the livelihoods of billions of workers throughout the world.
In this connection, ICC calls on governments to ensure their policy responses to the pandemic. Find below the download link to download the full list of actions.