Small firms in Cambodia, the Lao People's Democratic Republic, Thailand, and Viet Nam face challenges in reestablishing their operations in the aftermath of the COVID-19 pandemic. Depleted capital, inflation, digitalization, indebtedness, and regulatory uncertainty are among the key issues.
Many of these firms are informal and lack knowledge about government support, yet they have a vital role in providing jobs, income, goods, and services.
This brief looks at how public policy and other elements of the enabling business ecosystem can be enhanced to promote flourishing economies with vibrant small firms and entrepreneurial initiative at the core.
Contents
- Small Firms Are the Foundation of Local Economies
- Micro, Small, and Medium-Sized Enterprises: Their Nature and Number
- Small Firms are Important—and Different
- Business Operations and Goals: It's Personal
- Government Policy Can Make a Difference
- Institutional Support for Micro, Small, and Medium-Sized Enterprises Has Been Structural and of a Long-Term Perspective
- During COVID-19, Support for Micro, Small, and Medium-Sized Enterprises Shifted to Crisis Response
- Emerging Trends for Pandemic Recovery and Beyond
- Possible Next Steps: an Ecosystem Approach to Micro, Small, and Medium-Sized Enterprise Development
Published October 2022.
Source: Asian Development Bank.
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