Supporting SMEs in Sustainable Strategy Development Post-Covid-19: Challenges and Policy Agenda for the G20

Discussion paper


Barbagila, Martina, Buttice, Vincenzo, Giudici, Giancarlo, Mendy, John, Sarker, Tapan, Sharma, Gagan D., Thomas, Asha and Zutshi, Ambika. 2021. Supporting SMEs in Sustainable Strategy Development Post-Covid-19: Challenges and Policy Agenda for the G20. Germany. Global Solutions Initiative Foundation.
Title

Supporting SMEs in Sustainable Strategy Development Post-Covid-19: Challenges and Policy Agenda for the G20

Report TypeDiscussion paper
AuthorsBarbagila, Martina (Author), Buttice, Vincenzo (Author), Giudici, Giancarlo (Author), Mendy, John (Author), Sarker, Tapan (Author), Sharma, Gagan D. (Author), Thomas, Asha (Author) and Zutshi, Ambika (Author)
Institution of OriginG20 Insights
SeriesGlobal Cooperation for SDGs Financing
Year2021
PublisherGlobal Solutions Initiative Foundation
Place of PublicationGermany
Web Address (URL)https://www.g20-insights.org/policy_briefs/supporting-smes-in-sustainable-strategy-development-post-covid-19-challenges-and-policy-agenda-for-the-g20/
Abstract

SMEs contribute substantially to global employment and economic growth. Yet constraints such as lack of capital, human resources and knowledge capability have rendered SMEs operationally incapacitated to report on environmental, social and governance (ESG) requirements. In this policy paper, we first highlight SMEs’ key challenges as they try to recover from crises post-COVID-19. Next, we propose policy actions and recommendations to address such challenges by discussing the effectiveness of best practice frameworks that will help SMEs in sustainable strategy development. Additionally, we propose better policy frameworks to enable SMEs to report on ESGs and contribute to specific SDGs.

KeywordsSMEs, sustainable strategy, post-COVID-19, G20
ANZSRC Field of Research 2020350204. Financial institutions (incl. banking)
350499. Commercial services not elsewhere classified
Public Notes

File reproduced in accordance with the copyright policy of the publisher/author.

Byline AffiliationsMilan Polytechnic, Italy
University of Lincoln, United Kingdom
Griffith University
Guru Gobind Singh Indraprastha University, India
Jagan Institute of Management Studies, India
Deakin University
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Belle Isle, Melissa, Freudenberg, Brett and Sarker, Tapan. 2022. "The business tax literacy of Australian small businesses." Australian Tax Forum: a journal of taxation policy, law and reform. 37 (1), pp. 65-103.
Role of the Land-Based Private Sector in Low-Emission Development: An Indonesian Case
Alviya, Iis, Sarker, Tapan, Sarvaiya, Harsha and Iftekhar, Md Sayed. 2021. "Role of the Land-Based Private Sector in Low-Emission Development: An Indonesian Case." Sustainability. 13 (24), pp. 1-22. https://doi.org/10.3390/su132413811
Quality infrastructure and natural disaster resiliency: A panel analysis of Asia and the Pacific
Taghizadeh-Hesary, Farhad, Sarker, Tapan, Yoshino, Naoyuki, Mortha, Aline and Vo, Xuan Vinh. 2020. "Quality infrastructure and natural disaster resiliency: A panel analysis of Asia and the Pacific." Economic Analysis and Policy. 69, pp. 394-406. https://doi.org/10.1016/j.eap.2020.12.021
Determinants of the Russia and Asia–Pacific energy trade
Taghizadeh-Hesary, Farhad, Rasoulinezhad, Ehsan, Yoshino, Naoyuki, Sarker, Tapan and Mirza, Nawazish. 2021. "Determinants of the Russia and Asia–Pacific energy trade." Energy Strategy Reviews. 38, pp. 1-9. https://doi.org/10.1016/j.esr.2021.100681
Revisiting conventional and green finance spillover in post-COVID world: Evidence from robust econometric models
Sharma, Gagan Deep, Sarker, Tapan, Rao, Amar, Talan, Gaurav and Jain, Mansi. 2022. "Revisiting conventional and green finance spillover in post-COVID world: Evidence from robust econometric models." Global Finance Journal. 51, pp. 1-22. https://doi.org/10.1016/j.gfj.2021.100691
Neuroentrepreneurship: an integrative review and research agenda
Sharma, Gagan Deep, Paul, Justin, Srivastava, Mrinalini, Yadav, Anshita, Mendy, John, Sarker, Tapan and Bansal, Sanchita. 2021. "Neuroentrepreneurship: an integrative review and research agenda." Entrepreneurship and Regional Development. 33 (9-10), pp. 863-893. https://doi.org/10.1080/08985626.2021.1966106
Conditional acceptance of digitized business model innovation at the BoP: A stakeholder analysis of eKutir in India
Sengupta, Tuhin, Narayanamurthy, Gopalakrishnan, Hota, Pradeep Kumar, Sarker, Tapan and Dey, Subhendu. 2021. "Conditional acceptance of digitized business model innovation at the BoP: A stakeholder analysis of eKutir in India." Technological Forecasting and Social Change. 170, pp. 1-12. https://doi.org/10.1016/j.techfore.2021.120857
Renewable energy generation from livestock waste for a sustainable circular economy in Bangladesh
Islam, K. M. Nazmul, Sarker, Tapan, Taghizadeh-Hesary, Farhad, Atri, Anashuwa Chowdhury and Alam, Mohammad Shafiul. 2021. "Renewable energy generation from livestock waste for a sustainable circular economy in Bangladesh." Renewable and Sustainable Energy Reviews. 139, pp. 1-13. https://doi.org/10.1016/j.rser.2020.110695
Spillovers of the COVID-19 Pandemic: Impact on Global Economic Activity, the Stock Market, and the Energy Sector
Hasan, Md. Bokhtiar, Mahi, Masnun, Sarker, Tapan and Amin, Md. Ruhul. 2021. "Spillovers of the COVID-19 Pandemic: Impact on Global Economic Activity, the Stock Market, and the Energy Sector." Journal of Risk and Financial Management. 14 (5), pp. 1-18. https://doi.org/10.3390/jrfm14050200
Promoting energy efficiency financing within the G20: the role of fiscal instruments
Sarker, Tapan, Taghizadeh-Hesary, Farhad and Yoshino, Naoyuki. 2021. Promoting energy efficiency financing within the G20: the role of fiscal instruments. Germany. Global Solutions Initiative Foundation.
Sustainable Coastal and Maritime Tourism: A Potential Blue Economy Avenue for Bangladesh
Islam, Md Wasiul and Sarker, Tapan. 2021. Sustainable Coastal and Maritime Tourism: A Potential Blue Economy Avenue for Bangladesh. Japan. Asian Development Bank Institute.
Demographic Dividend, Digital Innovation, and Economic Growth: Bangladesh Experience
Zaman, Kazi Arif Uz and Sarker, Tapan. 2021. Demographic Dividend, Digital Innovation, and Economic Growth: Bangladesh Experience. Japan. Asian Development Bank Institute.
Building the business case for climate change adaptation: Lessons from Coastal Australia
Hales, Rob, Banhalmi-Zakar, Zsuzsa, Sarker, Tapan, Lo, Alex, Chai, Andreas, Whittlesea, Emma, Fleming, Chris, Kelly, Katrina and Bun, Mara. 2016. Building the business case for climate change adaptation: Lessons from Coastal Australia. Australia. National Climate Change Adaptation Research Facility.
A general equilibrium assessment of climate change–induced loss of agricultural productivity in Nepal
Chalise, Sudarshan, Naranpanawa, Athula, Bandara, Jayatilleke S. and Sarker, Tapan. 2017. "A general equilibrium assessment of climate change–induced loss of agricultural productivity in Nepal." Economic Modelling. 62, pp. 43-50. https://doi.org/10.1016/j.econmod.2017.01.014
Factors Influencing the Green Bond Market Expansion: Evidence from a Multi-Dimensional Analysis
Tu, Chuc Anh, Sarker, Tapan and Rasoulinezhad, Ehsan. 2020. "Factors Influencing the Green Bond Market Expansion: Evidence from a Multi-Dimensional Analysis." Journal of Risk and Financial Management. 13 (6), pp. 1-14. https://doi.org/10.3390/jrfm13060126
Sustainable development and finance post-pandemic – future directions and challenges
Cadman, Timothy and Sarker, Tapan. 2022. "Sustainable development and finance post-pandemic – future directions and challenges." De Gruyter Handbook of Sustainable Development and Finance. Germany. Walter de Gruyter. pp. 653-665
Top of the Grade: Factors that could influence small business literacy
Belle Isle, Melissa, Freudenberg, Brett and Sarker, Tapan. 2022. "Top of the Grade: Factors that could influence small business literacy." Journal of Australian Taxation. 24 (1), pp. 5-34.
Sustainability during the COVID pandemic: analysis of hotel association communication
Zutshi, Ambika, Creed, Andrew, Bhattacharya,, Croy, Glen and Dahms, Sven. 2022. "Sustainability during the COVID pandemic: analysis of hotel association communication." Current Issues in Tourism. 25 (23), pp. 3840-3853. https://doi.org/10.1080/13683500.2022.2057842
Opera Participants’ Perceptions of Brand Resonance
Hall, Emma, Menzies, Jane, Zutshi, Ambika and Creed, Andrew. 2022. "Opera Participants’ Perceptions of Brand Resonance." International Journal of Consumer Studies. 46 (3), pp. 1016-1034. https://doi.org/10.1111/ijcs.12743
Food waste challenges at downstream interfaces: a triple bottom line dilemma
Bhattacharya, Ananya, Zutshi, Ambika and Prajogo, Daniel. 2022. "Food waste challenges at downstream interfaces: a triple bottom line dilemma." Australasian Journal of Environmental Management. 29 (4), pp. 314-343. https://doi.org/10.1080/14486563.2022.2139768
Nexus between energy consumption, information and communications technology, and economic growth: An enquiry into emerging Asian countries
Sharma, Gagan Deep, Rahman, Mohammad Mafizur, Jain, Mansi and Chopra, Ritika. 2021. "Nexus between energy consumption, information and communications technology, and economic growth: An enquiry into emerging Asian countries." Journal of Public Affairs. 21 (2), pp. 1-13. https://doi.org/10.1002/pa.2172
Corporate social responsibility (CSR): Curators’ specific responses from Australian museums and art galleries
Zutshi, Ambika, Creed, Andrew, Panwarb, Rajat and Willis, Lyndall. 2021. "Corporate social responsibility (CSR): Curators’ specific responses from Australian museums and art galleries." Current Issues in Tourism. 24 (5), pp. 651-667. https://doi.org/10.1080/13683500.2020.1729104
Demystifying knowledge hiding in academic roles in higher education
Zutshi, Ambika, Creed, Andrew, Bhattacharya, Ananya, Bavik, Ali, Sohal, Amrik and Bavik, Yuen Lam. 2021. "Demystifying knowledge hiding in academic roles in higher education." Journal of Business Research. 137, pp. 206-221. https://doi.org/10.1016/j.jbusres.2021.08.030
Building resilience for food service businesses in times of crisis: a Four-F action plan
Bhattacharya, Ananya, Zutshi, Ambika and Bavik, Ali. 2021. "Building resilience for food service businesses in times of crisis: a Four-F action plan." International Journal of Contemporary Hospitality Management. 33 (10), pp. 3400-3441. https://doi.org/10.1108/IJCHM-01-2021-0123
The role of fiscal instruments in encouraging the private sector and smallholders to reduce emissions from deforestation and forest degradation: Evidence from Indonesia
Cadman, Tim, Sarker, Tapan, Muttaqin, Zahrul, Nurfatriani, Firti and Maraseni, Tek. 2019. "The role of fiscal instruments in encouraging the private sector and smallholders to reduce emissions from deforestation and forest degradation: Evidence from Indonesia." Forest Policy and Economics. 108, pp. 1-10. https://doi.org/10.1016/j.forpol.2019.04.017
Comparative evaluation of zero deforestation governance
Cadman, Tim, Maraseni, Tek, Sarker, Tapan and Ma, Hwan Ok. 2017. "Comparative evaluation of zero deforestation governance." EFTRN News. 58, pp. 161-168.
Declaring talloires: profile of sustainability communications in Australian signatory universities
Zutshi, Ambika and Creed, Andrew. 2018. "Declaring talloires: profile of sustainability communications in Australian signatory universities." Journal of Cleaner Production. 187, pp. 687-698. https://doi.org/10.1016/j.jclepro.2018.03.225
The Political economy of sustainable development: policy instruments and market mechanisms
Cadman, Tim, Eastwood, Lauren, Lopez-Casero Michaelis, Federico, Maraseni, Tek, Pittock, Jamie and Sarker, Tapan. 2015. The Political economy of sustainable development: policy instruments and market mechanisms. Cheltenham, Northampton,United Kingdom. Edward Elgar Publishing.
Reflections of environmental management implementation in furniture
Zutshi, Ambika, Creed, Creed, Holmes, Mary and Brain, Jade. 2016. "Reflections of environmental management implementation in furniture." International Journal of Retail and Distribution Management. 44 (8), pp. 840--859. https://doi.org/10.1108/IJRDM-10-2015-0154
An international review of environmental initiatives in the construction sector
Zutshi, Ambika and Creed, Andrew. 2015. "An international review of environmental initiatives in the construction sector." Journal of Cleaner Production. 98, pp. 92-106. https://doi.org/10.1016/j.jclepro.2014.06.077
SME stakeholder relationship descriptions in website CSR communications
Parker, Craig M., Bellucci, Emilia, Zutshi, Ambika, Torlina, Luba and Fraunholz, Bardo. 2015. "SME stakeholder relationship descriptions in website CSR communications." Social Responsibility Journal. 11 (2), pp. 364-386. https://doi.org/10.1108/SRJ-09-2013-0114
Resource constraints and Asia’s growth: regional cooperation for enhancing energy security
Hossain, Shanawez and Sarker, Tapan. 2013. "Resource constraints and Asia’s growth: regional cooperation for enhancing energy security." Hossain, Moazzem, Sarker, Tapan and McIntosh, Malcolm (ed.) The Asian Century, Sustainable Growth and Climate Change: Responsible Futures Matter. 9781781005743. Edward Elgar Publishing. pp. 54-81
Child labour and supply chain: Profitability or (mis)management
Zutshi, Ambika, Creed, Andrew and Sohal, Amrik. 2009. "Child labour and supply chain: Profitability or (mis)management." European Business Review (Bingley). 21 (1), pp. 42-63. https://doi.org/10.1108/09555340910925175
Environmental management system adoption by government departments/agencies
Zutshi, Ambika, Sohal, Amrik S. and Adams, Carol. 2008. "Environmental management system adoption by government departments/agencies." International Journal of Public Sector Management. 21 (5), pp. 525-539. https://doi.org/10.1108/09513550810885813