PARALLEL SESSION: Digital transformation and resilience of Micro, Small and Medium Enterprises (MSMEs)

The development of micro, small and medium-sized enterprises (MiPYMES) is a priority for sustainable economic growth and productive development in the region. According to the OECD (2019) and SELA (2022), MiPYMES, large entities that generate value for our communities, represent more than 90 percent of the companies in Latin America and the Caribbean (LAC), and are responsible for 60 percent. percent of the sources of formal work in the region, and contribute, in particular, to the maintenance of the means of subsistence of groups in situations of poverty and vulnerability (women, youth, among others).

It is important to measure the magnitude and responsibility that MiPYMES have in the face of different threats, as well as the impacts of different disasters (mainly the result of climatic and hydrometeorological threats) and conflicts. According to the US Federal Emergency Management Agency (FEMA), between 40% and 60% of small businesses close their doors permanently after disasters caused by hurricanes and tornadoes ; occurrence of impacts of earthquakes or floods and fires, for different reasons that will be analyzed in the session.

Given the current climate crisis scenario and in these post-pandemic learning periods, it is important to ask ourselves: how can MiPYMES face these challenges, expand their life range and increase their profitability at the same time? One answer would be in digital transformation, an ally for reducing costs, disaster risk and increasing value produced in communities, which makes it possible to guarantee business continuity, provide greater competitive advantages and promote sustainability in business models. business.

Sources:

https://www.oecd.org/latin-america/programa-regional/productividad/desarrollo-de-las-pymes/

https://tecnopymes.cl/2019/03/26/la-tecnologia-es-fundamental-en-el-desarrollo-de-las-pymes/

https://iberonewsla.com/pymes-en-america-latina/

Session objectives

Understand how more sustainable MSMEs with less vulnerability contribute to DRM and the role of science and technology in that purpose
Position the importance of DRR and Business Resilience for the sustainability of business models
Know first-hand the pain points for MiPYMES in the region
Connect theory with the experience of entrepreneurs in the field
Present how digital transformation is key to the development of more competitive, disaster resilient and sustainable MiPYMES
Share solutions and good practices to develop MiPYMES more resilient to disasters.