Asia Small and Medium-Sized Enterprise Monitor 2020 - Volume II: COVID-19 Impact on Micro, Small and Medium-Sized Enterprises in Developing Asia

The Asia Small and Medium-Sized Enterprise Monitor (ASM) 2nd volume focuses on the impact of COVID-19 on MSMEs in developing Asia, based on surveys in Indonesia, the Lao People's Democratic Republic, the Philippines, and Thailand.

Format: Paperback / softback
Length: 132 pages
Publication date: 28 February 2021
Publisher: Asian Development Bank

The Asia Small and Medium-Sized Enterprise Monitor (ASM) presents its second volume, delving into the profound impact of the coronavirus disease (COVID-19) on micro, small, and medium-sized enterprises (MSMEs) across developing Asia. This comprehensive study is based on a series of rapid MSME surveys conducted from March to May 2020 in Indonesia, the Lao People's Democratic Republic, the Philippines, and Thailand. As a vital resource for MSME development policies in Asia and the Pacific, the ASM aims to shed light on the challenges and opportunities faced by these enterprises during this unprecedented time.

The COVID-19 pandemic has posed significant challenges to MSMEs in developing Asia. Lockdowns, travel restrictions, and supply chain disruptions have disrupted business operations, leading to a decline in revenue, layoffs, and financial instability. Many MSMEs have been forced to adapt quickly, shifting their focus to online platforms, digital marketing, and innovative products and services to survive and thrive in the new economic landscape.

However, the impact of COVID-19 has not been uniform across all sectors and regions. Some industries, such as tourism and hospitality, have been particularly hard hit, while others, such as technology and e-commerce, have experienced growth and resilience. MSMEs in rural areas and low-income communities have faced additional barriers, including limited access to resources, financial institutions, and support services.

The ASM study highlights the need for targeted support and interventions to address the specific challenges faced by MSMEs in developing Asia. This includes providing access to financial resources, technical assistance, and training programs to help enterprises adapt to the digital economy. Governments, international organizations, and private sector stakeholders should work together to create a supportive environment for MSMEs, promoting innovation, entrepreneurship, and sustainable growth.

In conclusion, the Asia Small and Medium-Sized Enterprise Monitor's second volume provides valuable insights into the impact of COVID-19 on MSMEs in developing Asia. It underscores the importance of targeted support and interventions to help these enterprises navigate the challenges and seize the opportunities presented by the new economic landscape. By working together, we can foster a resilient and inclusive MSME sector that contributes to the region's economic recovery and growth.

Weight: 426g
Dimension: 280 x 214 x 14 (mm)
ISBN-13: 9789292624491