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Tag: Coronovirus

Challenges faced by SMEs during COVID-19

Challenges Faced by SMEs during COVID-19

Posted on March 27, 2020August 6, 2022

According to the OECD Economic Outlook Interim Report March 2020, projections for annual global GDP growth for 2020 have dropped by half a percentage point to 2.4% due to the coronavirus outbreak. SMEs represent about 90% of businesses and more than 50% of employment worldwide. Formal SMEs contribute up to 40% of national income (GDP)…

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