The IERD–Global SME News webinar, held on 27th August 2020, explored the theme “Navigating the New Normal: A Post-COVID Approach for SMEs.” The session brought together industry experts, entrepreneurs, and digital specialists to discuss the challenges confronting small and medium enterprises (SMEs) and the opportunities emerging in the post-pandemic landscape.
Date of Webinar: 27 August 2020
Published by: Enterprise Futures Lab
Originally Hosted by: IERD & Global SME News
The IERD–Global SME News webinar, held on 27th August 2020, explored the theme “Navigating the New Normal: A Post-COVID Approach for SMEs.” The session brought together industry experts, entrepreneurs, and digital specialists to discuss the challenges confronting small and medium enterprises (SMEs) and the opportunities emerging in the post-pandemic landscape.
Moderated by Dr. P. Koshy, the webinar highlighted strategies for resilience, innovation, and digital transformation while underscoring the need for SMEs to redefine their purpose, business models, and market approaches in a rapidly evolving economic environment.
Key Insights and Highlights
1. SMEs at the Heart of the Crisis
The COVID-19 pandemic severely disrupted micro, small, and medium-sized enterprises (MSMEs) worldwide. Representing 70% of global employment and 50% of GDP (ILO), SMEs have faced unprecedented challenges ranging from broken supply chains and liquidity shortages to declining consumer demand.
Speakers emphasized that resilience and reinvention are critical for SMEs to survive and thrive in this shifting economic context.
2. Digital Transformation as the New Imperative
“The New Normal is digitally driven.”
The pandemic accelerated digital adoption across industries, forcing enterprises to embrace online platforms, remote working models, and e-commerce solutions at an unprecedented pace.
- Work-from-home models have expanded beyond IT to manufacturing, services, and even rural-based enterprises.
- Home-based production and revival of cottage industries are gaining traction, especially with migrant workers returning to rural economies.
- To leverage this shift, SMEs must invest in digital tools to connect with customers, manage operations, and enhance productivity.
3. Reviving Rural Artisans and Cottage Industries
Mr. Vignesh Jha, Director of Hum Shilpakar, stressed the urgent need to connect traditional artisans and rural industries with affluent markets through digital platforms.
- Over 950 traditional crafts in India are on the verge of extinction.
- Despite producing aesthetically rich, functional, and sustainable products, artisans lack access to global buyers.
- Platforms like Hum Shilpakar aim to bridge this gap by enabling artisans to showcase and sell their work globally.
4. Reinventing Purpose and Business Models
Mr. K. S. Ahluwalia, Founder and CEO of Excalibre, underscored the necessity for SMEs to innovate, diversify, and realign business goals:
- Innovation drives relevance – enterprises must identify evolving consumer needs and customize products accordingly.
- Professionalizing management is critical. Many SMEs remain family-managed and lack structured processes, SOPs, and delegation frameworks, which restrict scalability.
- Entrepreneurs must adopt leadership roles as innovators while empowering teams to execute solutions.
5. Leveraging Digital Marketing for Growth
Ms. Anita Joseph, a media and communication professional, highlighted that SMEs must move beyond basic websites and adopt data-driven digital marketing strategies:
- Digital transformation has reshaped customer engagement; SMEs cannot afford to remain offline.
- One-size-fits-all strategies don’t work — digital approaches must be customized based on demographics, product types, and consumer behavior.
- The pandemic has made digital-first business models essential, not optional.
Discussion Highlights
- Bridging the Digital Divide:
While tools are increasingly user-friendly, digital literacy gaps persist, especially among rural artisans. Solutions include tutorials in regional languages and integrated mobile apps. - Market Access for Artisans:
Connecting rural producers to affluent global markets remains a critical challenge, requiring mentoring, financial support, and marketing assistance. - Labour Shortages:
Migrant workforce disruptions created acute labour deficits in industrial hubs while fuelling a shift of economic activity to rural areas. - Emerging Sectors:
The pandemic accelerated demand for:- IT and ITES services
- Digital marketing and SEO
- E-commerce and last-mile delivery
- Agro-tech and farm-based solutions
- Solar energy and alternative power systems
Pathways for SME Resilience
Speakers collectively highlighted several strategic imperatives for SMEs navigating the New Normal:
- Innovation First – Focus on developing new products, solutions, and services aligned with shifting consumer needs.
- Digital Adoption – Invest in e-commerce, digital marketing, and data analytics to reach new markets.
- Diversification – Expand revenue streams to reduce vulnerability to external shocks.
- Collaboration – Form informal networks and self-supporting ecosystems within SME communities.
- Inclusive Models – Ensure that rural artisans, informal enterprises, and tech-driven SMEs have equitable access to markets and opportunities.
Conclusion
In his closing remarks, Dr. P. Koshy emphasized that the post-COVID New Normal must be inclusive, innovative, and sustainable. While the crisis exposed vulnerabilities, it also created pathways for transformational change.
“Enterprises that innovate, diversify, and offer relevant solutions will lead the recovery. For SMEs, the opportunity lies in reinvention — not just survival.”
The webinar concluded with a call for collaboration, digital integration, and business model innovation to build resilient SME ecosystems capable of withstanding future disruptions.