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The development environment for micro-and small-sized enterprises needs serious systematic solutions in post-pandemic period, according to an expert in Tianjin.
“The COVID-19 pandemic has had a long-lasting impact on development for micro-and small-sized enterprises, especially in terms of cost, financing, market access, service and risk control,” said Cai Yusheng, deputy head of the Tianjin Academy of Social Sciences.
According to Cai, optimizing the business environment is key to facilitating the growth of the private sector.
Cutting costs is core to boosting growth for private players. The government should ensure an orderly and fair rental housing market and take a look at other costs when coming up with anti-pandemic measures.
Broadened and precise financing methods from banks and other market entities should be encouraged.
The government should improve market access and create conditions to widen market access for small- and micro-sized enterprises.
It should also help small enterprises build wholesale and retail self-operated or third-party platforms, as well as e-commerce service platforms.
Creating a regional atmosphere and development environment that encourages innovation and tolerates failure is necessary. Authorities should establish a business insurance system to reduce the risk of bankruptcy. They should also assist enterprises that have broken trust due to the epidemic to restore their credit.