ASEAN Micro, Small, and Medium Enterprises (MSMEs) who participated in an e-survey conducted by the ASEAN-USAID IGNITE project in November 2022 indicated that the most pressing challenge during the COVID-19 pandemic was financial aspects. In Financial aspect, most ASEAN MSMEs showed that the most pressing financial challenges identified were fixed costs – namely wages, taxes, and social security charges, among others.
MSME Growth Engine focuses on unlocking the power of digital payments, content, digital advertisements, and digitized operations to future-proof ASEAN MSMEs. The course will support MSMEs in accepting payments via e-wallets, harnessing digital payments data, creating killer content, producing engaging campaigns, and tracking conversions to increase results. ASEAN MSMEs will also be aided to make their businesses accessible to global customers as a strategy to make their businesses resilient in the digital era.