This paper provides an analysis of the impact of the COVID-19 crisis on SMEs and entrepreneurs, and the SME and entrepreneurship policy measures implemented during the course of a year since the start of the pandemic. The paper formulates 15 lessons learned for policy going forward, to assist...

The COVID-19 crisis has had a profound impact on SME access to finance. In particular, the sudden drop in revenues created acute liquidity shortages, threatening the survival of many viable businesses. The report documents an increase in demand for bank lending in the first half of 2020, and a...