Micro and small businesses, with limited savings and access to financing, have been hit particularly hard. However, these support packages must address the specific needs of young entrepreneurs, who are particularly vulnerable during economic downturn. Whether it is groceries or classes, you can often choose to buy directly from young entrepreneurs in your community. Young entrepreneurs are grappling with multiple challenges – from ensuring the safety of employees to managing cashflow to revisiting business models and identifying new market opportunities. Urgent attention and resources need to be channeled towards supporting young entrepreneurs to ensure they have the support they need to be resilient enough to manage the current crisis.

Source: Standard Digital July 13, 2020 18:00 UTC