Partnering for Innovation and Challenges Uganda are working closely to support Farm Reap in navigating these unexpected challenges by integrating a resilience component into the acceleration services provided. Challenges Uganda will conduct a resilience diagnostic to evaluate Farm Reap’s current strengths, weaknesses, and risks in responding to economic shocks such as COVID-19. The firm will also help Farm Reap evaluate its revenue streams and costs, while providing strategic guidance on the best business models to pursue.
Small businesses like Farm Reap are disproportionately impacted by economic shocks, including those already caused by COVID-19. This impact is compounded for female entrepreneurs who often face less favorable terms for financing and limited access to markets, market information, and digital technology. Development practitioners and accelerators play a pivotal role in ensuring that small and growing businesses are able to successfully adapt and respond to shocks and stressors so their products can continue serving customers and markets for years to come.