SMEs adapt their giving-back activities as businesses scale back

19 Jul 2021

Kenneth Goh, SMU Assistant Professor of Strategic Management (Education) and Interim Academic Director of the SMU Business Families Institute, V3 Group Fellow in Family Entrepreneurship echoed the sentiments that Covid has taken the challenges faced by the food and beverage industry to a whole new level. He explained, "The effect of Covid on small and mid-size enterprises' (SMEs) giving has manifested in different ways and those facing a tougher business climate are pulling back to channel resources towards sustaining the business and retaining staff. In addition, many face logistical difficulties in organising volunteers due to safe distancing measures." Asst Prof Goh added that during a pandemic where social needs become more pronounced, some SMEs are also taking the opportunity to rethink their engagement in these initiatives.

The Business Times, p20 PDF icon

The Business Times Online