Our Response to COVID-19
Small businesses, especially those owned or led by women, have taken a hard hit during the Covid-19 pandemic.
To honour our commitment to SheTrades members, the Initiative has developed a Covid-19 Toolkit to support entrepreneurs with managing the crisis and building resilience into their businesses.
The Covid-19 Toolkit comprises three parts:
· A Crisis Management Toolkit to support businesses with effective decision-making during crises;
· A Risk Assessment Toolkit to support entrepreneurs with conducting risk analyses of their businesses;
· Additional Resources consisting of relevant webinars, standard business strategy templates, and useful links.
Crisis Management and Risk Assessment Toolkits
Understanding both crisis and risk management is essential to mitigating unforeseen threats to your business. It also helps you determine the right course of action in a timely manner.
The two toolkits developed will aim to support which women entrepreneurs and business support organisations to manage the crisis and better equip their businesses for future uncertainties.
Should you have any questions or comments on how the Initiative can provide support, please write to us at firstname.lastname@example.org.
Developed by the SheTrades Commonwealth project, the Crisis Management Toolkit (CMT) contains tools and resources to support women entrepreneurs with planning in times of uncertainty and managing change.
The toolkit aims to guide businesses on:
· How to realistically assess the impact of the crisis on their business;
· How to clearly define a path forward;
· How to draw up an adaptive action plan that is responsive to change
A core component of the CMT is the Resilience and Recovery Action Plan (RRAP) Canvas, which is a business planning tool designed to support women-owned/-led businesses with agile and effective decision-making during times of crisis.
A complete RRAP Canvas serves as a single comprehensive road map for businesses through a crisis. It should capture information on where the business is, the direction the business should be steered towards, roadblocks to be mindful of, and the actions needed to get to that defined goal.
The Crisis Management Toolkit, which includes the RRAP Canvas, can be downloaded in PDF format here.
The RRAP Canvas is also available in a spreadsheet format, available for download here.
The Risk Assessment Toolkit aims to support both institutions and enterprises with conducting risk analysis using a holistic, but simplified structure. It can and should be used in conjunction with the Crisis Management Toolkit to provide a more nuanced analysis; more details on how to do this can be found in the toolkit.
The toolkit is available in two versions – ‘dropdown’ and ‘manual’ – and is supplemented by a 5 x 5 Risk Matrix as well as a Risk Taxonomy.
By using this toolkit, institutions and/or enterprises can:
· Identify risks and recognize triggers;
· Select suitable risk mitigation measures and allocate responsibilities accordingly;
· Recognize the available resources needed to implement the mitigation measures and how they should be mobilized.
The Risk Assessment Toolkit can be downloaded in PDF format here.
The ‘dropdown’ version of the toolkit, which is presented in spreadsheet format, is accessible here.
A number of webinars have been created to help WOBs cope with the pandemic by providing guidance on effective business planning strategies. Recordings of these webinars, as well as e-learning modules and much more can be found on the SheTrades Virtual Learning Space. To access this free material, become a member of the SheTrades community by registering at SheTrades.com.
Follow the journey of SheTrades women entrepreneuers as they adapt their practices in response to the pandemic and learn about SheTrades initiatives to support WOBs.
SheTrades is here to provide you with more information and answer any questions you may have.