Small business recovery amid covid-19, Lessons from the Caribbean
Covid-19 is an utterly black swan event. It attacked by surprise the tourism industry at its heart: accessibility and social interaction. By restricting both, the global tourism industry came screeching to a standstill. The after-effects were deleterious. Nowhere were these effects more damaging than in small islands. Most of them depend on tourism, and their economies has taken a significant hit from curtailed tourism. Curtailing it has been lethal to many small businesses.
Small businesses are the hallmark of the small island tourism ecosystem in the Caribbean. They are the source of jobs, incomes, and opportunities for thousands of people. They are the tourism soul of the islands. While they have weathered many storms, their resourcefulness has never been severely challenged by the current pandemic. How small businesses cope with the pandemic and how they navigate these uncharted waters have become the road to survival for many such islands.
This webinar sheds light on the efforts and recovery strategies of small businesses in the Caribbean during this pandemic. Its focus is to discuss and distill elements from a small business practice that suggest survival and recovery in this brave new world.