Small businesses need better access to credit to strengthen global supply chains and prevent them from being vulnerable to disruptions, according to an expert from the Asian Development Bank (ADB).
Small businesses need better access to credit to strengthen global supply chains and prevent them from being vulnerable to disruptions, according to an expert from the Asian Development Bank .
“Supply chains are deep, complex, global networks, with the tier-1 supplier—the supplier at the top of the chain—relying on several lower tiers to deliver a finished good to the end buyer,” Beck said. He said this amount of financing has grown to $1.8 trillion in 2021 representing a 38 percent growth in 2020 volumes.
“In that way, suppliers to large corporate buyers can get the cash flow they need to run continuous operations and expand, rather than wait to be paid by buyers, which stunts growth and productivity,” he added.
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