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Small and medium-sized enterprises (SMEs) are a mainstay of economies across the world. However, in a business environment that is growing increasingly complex and unpredictable, many SMEs are extremely vulnerable when an unforeseen crisis comes along. Their very existence can be seriously threatened.

Economic downturns, natural disasters and military conflicts are among events able to send such firms reeling. In addition, rapid advances in technology possess similar capacity to disrupt the business and its supply chain.

Naturally, this has thrown a spotlight on the need for companies to be resilient. In the first instance, resilience means being robust enough to...

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