2. Help businesses access financial support Many small and medium enterprises are feeling the sting of supply chains Across many countries, governments are using the banking system to that are sluggish at best, and at worst have been totally disrupted. distribute subsidies and support small business. Italy signed the “Cura Understandably, some are shifting their focus to three survival-critical Italia,” a decree that includes a €25 billion package of economic measures priorities: to help Italian businesses and families cope with the fallout of the prolonged health emergency. The Australian government introduced a • Managing cash and debt obligations. small-business scheme under which the state will provide 50 percent • Ensuring continuity of working capital financing. guarantees to lenders of new unsecured loans. • Keeping their supply chains as stable as possible. What should commercial banks do now and next to provide support for their customers? 9 Copyright © 2020 Accenture. All rights reserved.
Navigating COVID-19: Commercial Banks Page 8 Page 10