Promoting SME competitiveness in the Philippines: Compete, connect and change to build resilience to crises (en)

Increasing the competitiveness of small firms in the Philippines is vital to build resilience to shocks while promoting sustainable and inclusive growth.

Companies that were more competitive before the COVID-19 crisis were less affected by it, according to ITC’s SME Competitiveness Survey. Firms with a greater capacity to change – because of their skills, innovation and financial management – were more likely to adopt resilient or agile responses. Finally, those with better connections to their business ecosystem were better able to access the information and support they needed to survive the crisis.