The below post is relevant to our latest #MUNIonThis episode on #LivingInLockdown where we talked about the impacts of COVID-19 on small businesses: "The next few months will be critical for SMEs. With the lockdown, SMEs face zero to minimal sales but must still meet payroll, rentals for office and factories, utilities and bank amortization (even if deferred by 30 days). Those with sufficient retained earnings will survive but the majority will not. This is cause for alarm si nce 99.6 percent of all businesses operating in the country are SMEs and collectively, we employ 66 percent of the workforce. If the SME sector collapses, the entire economy will go down with it." How can we support these businesses and their employees? After all, more than the products and services they provide to consumers, they also provide livelihood for the working class. What policies do we need, not just for the business owners but for their employees as well? How might these businesses also adapt to survive? Listen to the MUNI on This podcast via bit.ly/muni-on-spotify or muni.com.ph/post/podcast_ep3 . #copingwithcovid #covid19 #supportsmes
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