QUESTION OF: Measures to increase access of small-scale enterprises to financial services, including affordable credits following the COVID-19 crisis


CO-SUBMITTERS:UNDP, Malta, Switzerland, Tunisia, Saudi Arabia, Kazakhstan, Viet nam, Myanmar, Gabon, Haiti, Iran, Hungary.



Observing the ramifications of the novel Sars-Cov-2 virus on the modern world, and the adaptations member states along with their citizens have taken, albeit in different capacities, to mitigate the spread of the virus, 


Further noting the toll taken on business and altering the current economic landscape in all nations for small-scale enterprises (SSEs)  and financial services indefinitely and the significance of SSE’s on governments, particularly for Less Economically Developed Countries (LEDCs), as their economies begin to compete with larger contenders,


Deeply concerned that the number of active businesses owned by People of Color (POC) fell twice the rate of non-People of Color owned businesses, and will leave a devastating impact on the social and economic mobility of POC populations,


Alarmed that half of small business owners have experienced stress from the pandemic, and more than 25% have experienced depression,


Viewing with appreciation of the work done by international organizations such as the International Labor Organization (ILO), the International Monetary Fund (IMF), International Financial Company (IFC), national governments, and substantially more, to discuss and provide assistance to SSEs through policy and regulation through this unprecedented time,


Taking into consideration the economic benefits governments derive from SSEs, especially LEDCs, however, the implementation of the policy may still hinder LEDCs economy with the World Bank noting that More Economically Developed Countries (MEDCs) are better equipped to support SSEs by 62% whereas LEDCs are only able to support them by 22%,


Alarmed by the issues and challenges SSEs are facing following the COVID-19 crisis, such as the possibility of severe bankruptcy and debt following economic inactivity as well as the large disruptions of normal product demand in most sectors and the challenges brought on by this lack of demand, 


Hoping for increased cooperation between member states in order to improve all current financial situations as well as economies in all states, specifically developing economies and LEDC’s,

  1. Urges all member-states to provide better financial aid and other forms of assistance during the COVID-19 crisis to SSEs within their governments by implementing measures and frameworks such as:
    1. Assisting infrastructure development in developing countries to help support SSEs
    2. Encouraging financial entities including major private companies to provide the resources necessary to keeping SSEs open and functioning, such as through loans
    3. Recommending member nations help in boosting demand for products and services provided by SSEs as well as incentivising altering their products in order to make them more relevant to current needs concerning the pandemic such as Personal Protection Equipment (PPE)
    4. Provide advantages to smaller businesses through measures including but not limited to:
      1. Advisory services and programmes for free advice
      2. Webinars and online workshop
      3. Voluntary programmes and organisation of groups who wish to volunteer and provide their skill and expertise;
  2. Recommends that any financial aid given to Small or Medium Scale enterprise in the wake of the COVID-19 pandemic be given along with the condition of being used to promote carbon net zero business practises, in line with the goals set out in Sustainable Development Goals 7 (Affordable and Clean Energy), 12 (responsible consumption and production) and 13 (climate action):
    1. Accepting that for some nations, this may be a lower priority, but places particular emphasis on taking steps to allow for the safe and sustainable reopening of sectors hardest hit by the COVID-19 pandemic, including Tourism, Aviation and more;
    2. Urging such nations to reassess the global situation and view the current crisis as a suitable time for radical change;
  3. Recommends the government and the UN to help businesses increase their clients by:
    1. Helping improve their products or services to an international standard by:
      1.  Analyzing what special things the most popular products in the country of the same category of the products from the SSE have to help them make their products better
    2. Providing them with the assistance to interact with regional counterparts, suppliers and potential clients by:
      1. Promoting awareness about their products and services by advertising on social  media and the country’s main television channel;
  4. Calls upon countries to support the UN forming an organization to help provide financial help and manage the effects of the third wave of the Coronavirus may have on SSEs by;
    1. supporting the funding they need to keep their business alive when the government can not,
      1. ask countries to give reports on their economic state monthly instead of yearly turnovers during the pandemic to be able to take action as soon as possible
      2. using reportes given by countries on their economic reports to determine where most help is needed to keep SSEs alive
    2. providing aid packages to help countries keep their business alive during the pandemic, from both stable governments and private financial institutions.
    3. asking larger organizations such as the World Bank, the IMF,  the IFC, the Multilateral Investment Guarantee Agency (MIGA) and ILO to support the distribution and invest in aid packages along side providing advisory services to businesses and governments, mobilizing capital and international financial markets
    4. Providing provisions to support the mental health of employers that have lost their businesses and employees that have lost their jobs
    5. Cover the insurance payment of employees and SSE owners and pay part of their salary when they are out of business;
  5. Wishes countries keep in mind the positive effects SSEs have on communal psychology in their country during Covid 19 which are;
    1. opening new positive opportunities to SSEs to turn a negative time like covid to a good time for their businesses by;
      1. providing people jobs which gives them a place to go or think about daily
      2. seeing these businesses alive give people hope that the norms of life still continuing which is essential to get them through the challenges Covid 19 presents
      3. creating communal networks and growing their business using the word of mouth in the community
      4. giving half or more of the workers salaries so that the SSEs would have to pay it;
  6. Requests that the UN starts a online site where;
    1. SSEs can easily contact large companies that have grown form SSEs and seek their advice about how to get out of the hard economic issues the world is facing with the most possible amount of benefits and keep the maximum amount of people they can in work
    2. upload online classes on this cite for the purpose;
      1. Provide online courses to business owners, assisting the adaptation of business to the new reality of markets during and after COVID-19
      2. showing case studies to SSEs to insure that they are able to take fast action and teach them how to execute their ideas properly
    3. use the site for communication between SSEs so that they can:
      1. learn and use each others experiences during this time
      2. Creating communication channels between large and small businesses, allowing for the funneling of investment into SSEs in the wake of the Covid-19 pandemic.
      3.  avoid conflict due to selling the same thing in the same area and merging to save companies from going bankrupt, growing companies and selling products on a wider region.