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Explanation:
Small businesses are estimated to employ about 70 per cent of the world’s workforce and contribute around half of the world’s GDP. In less developed countries, small businesses are typically even more important to employment and GDP. But many – particularly those not used to doing things digitally – face tough times as the pandemic continues.
A four-strong panel explored the greatest challenges faced by small businesses during the pandemic; how public and private sectors have collaborated to drive economic resilience and digitisation among small businesses; and how governments can best help small businesses understand and prepare for the world beyond the pandemic.