AMCHAMDR President Ramón Ortega advocated for joint efforts between the public and private sectors to boost the economic recovery of SMEs, which he said are "critical to the region's economies, and their survival is imperative for the future of Latin America after the pandemic."

Santo Domingo, July 24.— The key for small and medium-sized enterprises (SMEs) to reinvent themselves in the context of the COVID-19 pandemic lies in embracing digital transformation and adapting to new changes. This was the conclusion reached by three experts who participated in the final day of the event "SMEs: Successful Transition to the New Normal," organized by the American Chamber of Commerce of the Dominican Republic (AMCHAMDR).

In his opening remarks, AMCHAMDR President Ramón Ortega advocated for joint efforts between the public and private sectors to boost the economic recovery of SMEs, which he said are "critical to the region's economies, and their survival is imperative for the future of Latin America post-pandemic."

Ortega emphasized that the event, dedicated to SMEs, has been a learning space for seeking solutions with experts in different areas and emerging with a new perspective on progress and economic recovery for these businesses, which involves keeping their operations afloat and preserving the jobs they create.

“Changes should be viewed as opportunities to evolve in commerce. SMEs need to use change to their advantage and anticipate the situations they are experiencing to adapt to consumer needs,” said Iván Valdez, co-founder of Delivery RD and Pedidos Ya.

Speaking on the topic "Delivering Solutions in Times of COVID-19," he cited consumer behaviors that have transformed in this context, including prioritizing virtual interactions over in-person ones, avoiding crowds in public spaces, and focusing on their families.

For Francisco Guzmán, Vice President of SME Segments at Banco BHD-León, economic recovery will vary by region and sector and requires entrepreneurs to adopt a strategic mindset and focus on making the necessary changes.

In his presentation, "Supporting the New Normal: Consulting Alternatives," he cites what he understands to be the main concerns of SMEs in the context of the pandemic: reduced sales, increased costs, operational difficulties, and limited cash flow, according to a survey conducted by the financial institution.

Meanwhile, Dr. Yunén, president of the Yunén Group, stated that SMEs must have a responsible return plan, requiring mandatory mask-wearing, staff screening before entering, implementing hygiene standards, and designating a COVID-19 monitor for their company.

In this regard, it explains how companies can structure a plan for a safe return to operations, based on testing, tracing, treating positive cases, and implementing precautionary measures within their facilities.

In his talk "New Health Protocols," Yunén highlighted the importance of telemedicine during this process and asserted that this modality is here to stay. He noted that in his case, it has allowed him to conduct up to 300 biweekly consultations with his patients.

The event was moderated by Steven Puig, president of Banco BHD León, who advocated for continuing the innovation process in small and medium-sized businesses and promoting the use of digital platforms as a way to reinvent businesses.