Challenge 1 - Square with space - RCN
Increasing speed and efficiency of government payments
Challenge -Urban Mobility Systems - RCN

Reaching sustainable, effective and user-friendly urban mobility systems

Challenge 3 - Square with space - RCN

Making good use of city data for better informed decision making

Challenge 4 -Local Economies & SMEs - RCN
Challenge 5 - Square with space - RCN
Strengthening government public service capacities

How can we reactivate local economies and support the development and growth of our SMEs?

Challenge 4 -Banner - RCN
SMEs are the foundation of the modern economy. At a global level, SMEs represent a staggering 90 percent of all businesses and more than 50 percent of employment worldwide.1

However, even as they play a key role in local economies, SMEs are often more vulnerable than larger firms to disruption2 during periods of economic turmoil. They typically have fewer financial resources, lower access to capital, and can be more volatile when economic conditions turn negative. Even in non-crisis times, many SMEs face significant challenges in bringing products to market or purchasing inventory, due to access to financing, adoption of technology and logistics.

Challenge 4 - Box 1 - RCN
Challenge 4 -Box 2 - RCN
Infrastructure, grants, education, and favorable regulation can help drive SME digitalization and growth, enabling them to offer products and services more competitively, which in turn can improve the sector’s resilience, capacity for innovation, job creation, and also increase the economic prosperity both of local communities and society.
Digital payments are a key enabler of SMB digitalization, helping to level the playing field versus their larger peers. For small businesses, digital payments can drive an increase in the number of clients and revenue, improvement in customer convenience and satisfaction, reduction of operational risks, and easier access to lending.
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Benefits of Tackling The Challenge

Future Ready Cities are enabling SMEs to digitalize through digital payment systems, e-commerce and digital business management solutions.
Increased access to new customers and markets

Improved data insights

Increased digital and financial inclusion

Improved business efficiency

Strengthened local economies

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