There’s a proverb that goes: “The best time to plant a tree is 20 years ago. The next best time is right now.” The naturally vulnerable Small to Medium Enterprise (SME) and entrepreneur sector would have done well to build their resilience prior to COVID-19. But if they didn’t, as with so many, right now is the time to plant the seeds for short, medium and long-term resilience.
After all, the next shift is sure to come whether it is in the form of a pandemic, extreme weather, forest fires or rising seas. And we might even still be recovering from this one when it does.
Resilience requires entrepreneurs to engage in two somewhat contradictory activities: one is bouncing back from the collapse of markets, the breaking of supply chains, and the depletion of workforce capacity. The other is learning how to leap forward into markets, supply chains and talent markets where the rules for survival and success are unclear and changing.