 Hello, everyone, and good morning. Thank you for joining us at this panel where we'll be focusing on the future readiness of SME, so small and medium-sized enterprises. I am delighted to be joined today by three very interesting and wonderfully strongly engaging in future readiness entrepreneurs, Stemis Lasbouple, the founder and chief executive officer of the Pelo IT Group, Elizabeth Rosiello, the chief executive author and founder of AZA Finance, and finally Akshay Shah, the group executive director of CLA Africa. And today we're going to be discussing sort of the attributes that contribute to this idea of future readiness for SMEs, and specifically looking at ideas of growth, of different forms of sustainable impact, so economic, social, and environmental, and also looking at the importance of adaptive capacity. This work is building on a recent report that we have been working on as partners with the World Economic Forum, focusing on the impact of these attributes towards creating the future readiness of SMEs, and specifically looking at how important these are in terms of the context of sustainable development. Oftentimes, SMEs are not given the attention or importance relative to their weight within the economy and society and are often overlooked. Therefore, we think that it is absolutely important that we're engaging with these entrepreneurs and discussing ways in which we can look forward towards creating stronger future readiness for many of these organizations. And specifically, we're interested in discussing the challenges and also the opportunities that are presented within this framework. We would be very, very excited to hear today from the three entrepreneurs joining us, and I believe we are ready to go. All right, thank you again for being here today. The first of the questions that I would like to pose to our panel is that of how you've responded to the challenges that we've recently seen. So I'm specifically thinking of things like the recent COVID pandemic, which I'm aware has impacted all of us quite substantially, and especially SMEs, potentially also looking at things like the climate crisis, which we're aware is slightly more of a longer-term impact, but will undoubtedly have also a strong need to shift how you are practicing within your organization. So, Stanislaus, I would love to hear from you first. Thank you, Ariel. For sure, this kind of crisis, on my point of view, are always an history accelerator, and I think that's a good news. At the business level and for companies, it has been, I think, a really wake-up call. Clients, employees, communities, market are more and more conscious about those issues, and the company will have to shift fast. At Palo 18, my company, we are fully dedicating the tech innovation and the business transformation, and the first step for us was really taking a hard look to our current business model, our value proposition, and stepping up to be an engine for this change. So, it was a good moment to do and stop to talking, to talk. So, sustainability is not really a target anymore. It's not enough. We can't get back with what we have already destroyed, but we can generate something new. So, to transform our business, we develop an internet transformation program called RedGenesis. The purpose of this program is, one, first, it's really to insufflate a new mindset within the company, explain the company vision and the target, the long-term strategy, align the corporate values, develop consciousness leadership, reshape new governance model and with more transparency and accountability. The second was to revamp our value proposition and to augment with impact technologies and impact businesses how we can propose a new front of the market. And the third was really to integrate a new ecosystem globally and locally in order to propose a added and augmented value. So, we face also during this period, we say a new human resource challenges. It was a period to reinvent the work model to be more efficient, to improve a better life-work balance and opportunity to accelerate the adoption of the learning, flat and agile organization model. And finally, I will say, it's very important to have an authentic transparent humble and continuous communication, which is definitely key if you want to, that your teams embrace this massive change. Okay, thank you. It certainly sounds like you have looked at the whole ecosystem in terms of how you are being able to move your organization forward and keep it properly, future ready. Yeah, for sure, the ecosystem is very important and it's important to start to map it. And there's plenty of ways to identify your ecosystem. So, from a school, forward thinker, partners, clients and so on. But it's also to embody some core values to share with your ecosystem and to try to figure out how you are going to build a new added value, a new model to have an impact as your own level because we are still SMEs, small companies, but we can act locally and also globally through this kind of event of your system. Wonderful, and I know your organization has been certified, so we'll get back to that slightly later. Elizabeth, I'd love to hear from you now, speaking to what you've experienced and how you've navigated your SME through all of the recent challenges and upcoming ones. Well, thanks so much, Ariel, and I agree a lot with what Stennis Law said, but I think the difference for our company at ASA is that we're an eight-year-old company, a growth company, but at heart we're startup culture, and not only are we a startup culture company, even though we're no longer a startup, but we are one who has been based and focused and building in frontier markets. And what does that mean? And that means that we've never had the luxury of a stable environment in a lot of ways. We've dealt with flooding, we've dealt with election violence, we've dealt with violence, we've dealt with bombings across the street, we've really dealt with everything that sent our team home. And so we've had to had a work-from-home strategy from day one, and also since we are an infrastructure for financial services across the African continent, and we're a competitor to a lot of very strong incumbents, the way that we win and the way that we've grown is being agile and lightweight. So it's in our DNA from the beginning. So we had a real advantage, and I'd say a lot of fintechs globally, but especially those in frontier markets saw huge growth during the season of COVID, the first season and now the second season. And part of that because our teams were so ready, we even had a petrol allowance to fuel generators in our Nigerian team. At the ready, we were able to distribute mobile money to get internet backup. So within an hour, we were operating at full capacity while a lot of the brick and mortar banking institutions had their teams offline for months. And also our management model is such that it's a hub base, so your manager could be on another continent, but we talk constantly via tools like Slack and Telegram, and we have those tools integrated into our core systems. So we were very ready to service our clients. I think the biggest change for us came in our clients themselves. So a lot of our clients are corporates that work on, across, in and out of the African continent. And in some regions, of course, 55 countries who can't generalize at all, but in some regions, it was very difficult to win the larger clients or the more traditional clients with the biggest market share because they had very strong physical relationships with their brick and mortar bankers to the point where they were starting to accept very manual processes as the norm. So I told this anecdote before, but we have a customer in the Sahel who goes into the office in Dakar and deposits a million dollars of cash. And this is not a non-compliant customer. This is a very large wholesale importer who is of the top tier business people in the country, but because the same day settlement system in the financials infrastructure across the Sahel and into the Umea zone in Francophone, West Africa is so weak, they were not able to guarantee either T1 or even T3 settlement. So when they were, you know, the relationships were so strong prior to COVID because of the physical relationship of going into the bank. They would never have worked with FinTech, the great equalizer. And then a lot of companies came to us and they saw how wildly more efficient our processes are and how instant settlement, instant reconciliation, reporting, you know, zero error rate down from 20% manual entry, error rate, great pricing, entire continent service. And they were wowed. They almost like their eyes had been blindfolded and they hadn't seen what was out there. And I think sometimes we see these incumbent relationships and business practices and even protectionist policies kind of go away in what we call an emergency zone. And I think that's been very exciting for our challengers such as the startups and the growth companies and the technology companies. Thank you for sharing your experience with us. It sounds like it was a combination of your team and being able to adapt so quickly and use the technologies that you both have at your disposal and sort of a growing adaptation to what we need to do in times of crisis that really have made it so that you've been able to move through this period. Looking forward to hearing more as we go on with the session. Finally, Akshay, I would love to hear from you about your experience with your organization because I believe that you were able to really target some sort of key pain points that were brought up by the COVID pandemic through your work. Yeah, thank you Ariel. So when the pandemic hit, our first reaction was how do we keep our employees safe? We're a manufacturing company that produces packaging in Kenya, Tanzania and East Africa. So the first thing was just up the whole safety levels in the company. Then the next thing was to change the way of managing from sort of business as usual to a crisis management approach and to make sure that we are able to continue to supply packaging for essential items because we largely do packaging for food and beverage type of products in East Africa. I think once those things were sorted out, we then started looking at what's happening in the community and how can we help? So 10% of our manufacturing capacity, we commit to making an impact in the communities and our focus is around providing access to water, to sanitation, to hygiene and also support jobs in the informal economy. So part of that was looking at what's happening with hand washing, as the pandemic started to expand and everybody was asked to wear masks, keep social distance and wash hands. Many of the schools, low income communities, slums, markets, they just didn't have those facilities and there was a lot of companies putting out these water tanks or drums or something like that with a tap on it. But nobody was able to really provide a sustainable solution as in most of these communities operate in an area where water itself is not available or it's not reliable, the grid doesn't exist. So we wanted to think a little bit beyond just simply putting a water tank and actually connect it to a reliable water supply. So over the 2020, we kept iterating and ultimately came up with a solution where think of it as a smart water station that has a sensor on top of the water station or on top of a 3000 liter tank and it keeps track of how much water is inside. We then partnered with a company called Maramoja who developed a mobile app that you can use to see how much water is in there. We then connected with water bousers or water truck operators. These are micro entrepreneurs who can be called like an Uber for water type of an idea that they can come in and fill up water into that water station if there's no other source of water available. And we're now sort of thinking, okay, what next? Because hand washing clearly is gonna be there. It's a problem that needs to be fixed but many of these communities even don't have access to water for drinking, for cooking, for sanitation. So the same solution that we put out there, we're trying to see how can we upgrade it, how can we retrofit it so that it can be available to provide water for all the basic needs. And for us, this is really important because if we're living in a healthy community, if we're operating in a healthy community, then we've got healthy cost consumers who then support our customers and then we ultimately grow together as a community and as a business. That's excellent. And it sounds like you in this instance were able to sort of adapt fairly quickly to the changing circumstances but also look for areas where you were able to create this sort of shared social and economic value which is very much something that we're interested in within both the report that I've been engaged with but also within the overall context of the UN SDGs. So thank you very much for sharing that. I would now like to move on to the second of the questions that I'd like to focus to the panel which is more forward-looking. So in terms of where you're hoping to be creating sustainable forms of value in the future, where do you see yourself engaging as the leader of an SME within this context? Sanislav, would you like to go first? And I believe if you'd like to, your BCOR certification would be a wonderful entry point for this. Yes, for sure it's, I think as we mentioned, it's a good moment whether or whether as a decision maker you are really an actor or you are a follower and for sure we don't have any more time to lose as decision makers. So at Palo, we use the BCOR certification really to as a framework to build our own transformation journey and measure our maturity level. And we continue to measure continuously. And in order also to take a more quality approach to our transformation, we have setting numbers of OCRs down to our corporate values that we aim to meet to 2025. So the first one, or it's to double the size of the company organically or it's one objective, OCR. The second, it's aligned with one of our core value which is we care about the world and to be a net zero carbon company and also helping our clients to shift towards net zero through innovative tech solution. So it's one of our commitment and it's one of the first step. The second major also OCR, it's really to continue the BCOR certification globally in all our new offices across the planet and also measure as a level of maturity to improve our level of maturity in everything in all what we do. Another one, it's really to, we are dedicated to develop tech innovation, develop software, innovative software and we really want to target that more than 50% of our revenue will be projects that will have a positive impact and serve the UN SDGs. So that's a very strong commitment. We want also to transform ourselves to become a NAPI company that means that we want to, that more than 90% of our employees across the world declare that they are up in their job and are proud of what they do and up in their company. And the last OCR, it's to train 100% of our employees, Paloan, to understand the different climate issues, to understand with an ethical way the impact of technologies. Also to be a conscious leader to be trained also to have common diversity, equality and inclusion practices within the company. So it's a massive shift but it's also super exciting for all our teams and our ecosystem and it's give you a great energy within the company and with our clients and the whole ecosystem. So let's go do it. Sounds marvelous. And it sounds like this is very much more motivated by your core values and just actually seeing that implemented throughout your organization, which is, it's great to hear someone both speaking to us but also actively implementing it. So thank you for sharing. Elizabeth, I would love to hear from you now speaking sort of where you're seeing future value creation around social, environmental or economic goals that are more sustainable in terms of how we're creating this future. So within our company, we do a lot of what we call feedback, training and coaching. And I think speaking to add onto what Stemis-Las said about changing the corporate culture but then how do you keep that corporate culture? But what we've seen in our company which is surprising and a very outspoken activist for diversity and leadership and not just in terms of gender but of race and for religion and sexuality. We talk about this and this is not something that a lot of companies in our geography talk about. And what we find is that, we can hire managers who are very supportive of that. And then the second there's a revenue crisis or there's a cash crunch or market closes or regulatory change, all the culture and core values go out the window and everybody just panics. And what we've really seen and it's great to speak about this when there's a downturn and COVID and everybody has time to think about how to restructure but how do you keep it live and living through all the business cycles and all the seasons that every business goes through? And we leave from the top on that and I feel very passionately that it's not just as we say in New York, a fair weather fan, you don't just do it when things are going well. And I think that is much harder. And so what we've decided to do is bring in outside coaching teams and all of our management and not just our senior manager but our mid-management receives coaching and we do peer mentoring. So I mentor a level five below me, somebody who's entered the company just a year ago and we do make time for these things. And it's not just nonsense or mushy stuff. These are my future managers and it's very hard to find good people that can really speak to these new agile ways. You can go on LinkedIn, you can hire a recruiter, you can find somebody with 25 years experience that comes from a institutional investor. Good luck getting them to understand what agile methodology is and that we work on an engineering sprint cycle and we've tried it over and over again. I've stopped listening to the investors or board that say, just hire my friend, he'll come in and he's the adult in the room. I'm 40, I'm already an adult. Bringing in somebody that's had 30, 40 years of work experience with a completely different work mentality is just not sustainable. And maybe you find a few but you definitely not gonna find all of your managers there. So you have to grow them from within. So how do you teach the junior team and how do you teach the mid-managers and how do you future proof them and get them to understand that, yes, this is all sounds great and there's cute colored coffee chairs and a really exciting open working space but how do you form resilience and how do you make sure you stick to those values and just run through what you've known or seen elsewhere in a down crisis and that takes I think constant diligence. And so we see also from our customers and our clients when they first were introduced to the technology that we use such as blockchain or digital banking or mobile money or all of these things, they were very cautious and what we've saw was a very interesting report from Deloitte that said, when we started the company in 2013 the number of corporate treasurers willing to do a large treasury transaction on a digital interface was less than like 20% or something and just four years later that number had gone to over 75%. So the willingness and the need to be absorbed to these new business practices is dire and how do we get these managers? How do we get these teams to stay that strong and not just be lip service? And I think that it's a very tough struggle that you have to do 365 days and I think self-reflection, coaching, measurements, not just having those OKRs like Stennis Laws mentioned but how do you teach your team to meet those OKRs and really achieve them? And that's something that takes work on every level. Great, thank you very much for sharing that, Elizabeth. It sounds like you're really focused on making sure that you have sort of an internal culture that's able to support this and grow and also be more responsive to the challenges we're facing rather than necessarily using older practices from the challenges we previously faced. So thank you for sharing. Actually, I would love to hear from you now sort of talking about how your SME is focusing on creating sustainable value into the future. Yeah, I think the core thing is all about resilience. The future of SME's entrepreneurs, micro-entrepreneurs is thinking about how can they become more resilient and how can the environment in which they operate become more resilient? And a lot of this means we can't depend on traditional sort of large infrastructural approaches, for example, to deliver water. We have to be much more agile. We can't wait for massive infrastructure projects to bring water to communities or bring sanitation. So we need to be thinking about what's an off-grid approach, how do we leapfrog and bring water, sanitation, jobs, hygiene? How do we bring all of that to these communities and not have them wait for another five, 10, 20 years? So there needs to be a quick fix solution. Otherwise, we're just going to end up leaving these communities behind as the rest of the world moves on. So resilience is the key thing. And then innovation to be able to come up with solutions that are a quick fix that don't cost millions of dollars or billions disrupting a lot of things. They can be plugged in very quickly. And later on, maybe after five years as the water grade or the sanitation grade is able to catch up, then fine. Then you redeploy this to another area where people don't have access. So I think resilience is the key thing. And if SMEs don't have access to some of the basic stuff, as I mentioned, water, sanitation, hygiene, connectivity to the internet, to education, then how are they going to grow? What kind of work are they going to be able to do? Even if they have opportunities, they won't be able to deliver. So I think it's all about working between large manufacturers or large corporates. And then the SMEs kind of co-creating this space together to become resilient together. And I think that's another important element of what I feel is the future readiness of SMEs is that we need to be thinking between large and small companies to collaborate because small companies could be more better at doing certain things, whereas large companies are better at other things. So how do you bring the two together? And the sum of the parts becomes better for the environment, for the communities. Great. Thank you very much for sharing that, Akshay. In terms of where we are in our schedule today, I'm now going to be opening up the floor to any questions from anyone who is currently watching and be posing these questions to the channel. So it looks like the first question that we've received is actually building on what you just spoke of, Akshay. So we can either start with you or we can work our way through the panel. But it is a question specifically asking about sort of the commitments of large multinationals on net zero and how these large multinationals tend to have significantly more resources, access to technology, and know how than smaller organizations. And this individual is asking if there are any areas in which any of the three of you believe you have more advantage compared to these multinational corporations, presumably in terms of reaching net zero commitments. So actually, if you'd like to begin, otherwise, if anyone else has some sort of strong opinion on this, we'd love to hear from you. Sure. I think the advantage we have is that we're, as Elizabeth said, we're more agile. So we don't necessarily have to go through a huge approval process. We can start making decisions at the operational level and quickly implement and iterate. If it's not working, we can quickly turn things around. So in that sense, we could move faster. Getting to net zero also means keeping an eye on what's the latest sort of innovation and technologies that allow you to become net zero. Silafika is really focused on circular economy, not just for the products and for our customers' products and packaging, but also how we run our own manufacturing business internally. So if we start applying the concepts of circular economy into our own company and making sure that we have no footprint at all, because we're recycling everything. We're reusing everything. We're minimizing our consumption. I think all those decisions require a bit of agile thinking, a bit of experimentation. And I believe where we are, probably I think we can move faster, even though we might not have billions of dollars of resources, but we definitely have been able to move faster. It almost sounds like what you're saying or implying is that Silafika's lack of resources compared to an MNC might actually make it more agile and perhaps even more creative as one possible advantage of being in SME. Yeah, I mean, necessity is the mother of invention, right? So you've got to make do with what you have and do quickly. Excellent. Well, it sounds like those are skills that will definitely pan out well in the coming years, especially with more impacts of climate change approaching. Elizabeth, Stanislaw, do either of you have any sort of strong opinions on this? And if not, we can move on to the next question. Just a quick example of this. So we were looking to integrate into one of the largest financial services providers in the world. And they told us they had a two-year integration cycle, two years. In two years, our business could quintuple and has. So I mean, and we're working with some providers, a Guinean provider, an Egyptian provider, that do an integration in a week. And of course, different levels, different scalability, but you can't have such arbitrage in the amount of time it takes to get a policy past, approve how many people are involved in the project management. When in the end, it's just an integration, which is an API, a few engineers, and should only be a few sprint cycle. So I mean, what's the rest? What's that extra buffer? What's that? And you see it when you look around. I'm in London now. You look around at all these buildings filled with people. What are all these people doing? Very quickly, you get to these companies which the organization becomes so overwhelming. And I think that cut to efficiency, that cut to necessity is what actually mentioned. And it really is a very large quantum. And you can always say that an SME is never going to be as compliant or as stable. And they use these adjectives to describe large companies. But in the end, they're just bigger. And actually, they can be just as compliant, just as innovative, just as efficient. So I think we need to get rid of these vocabulary words when we're thinking about who do we look to, for examples of corporate policies and corporate business practices. OK, great. Thank you, Elizabeth. Again, speaking to the importance of what SMEs can bring, and just thinking about their size and their potential impact within the world, I think the future looks bright, despite the challenges coming up. So thank you for sharing that. The next question I actually have is specifically for Stennis Loss. Stennis Loss, one of the members of the audience would like to know exactly what type of certification your company is using to benchmark its digital transformation process. So at Palo, we have looked during this program has started five years ago, our own transformation. We look at a lot of different certification frameworks and so on. To be frank, the only one that I found quite mature was the B-Corp, which really goes very deeply in terms of granularity. We're getting different dimensions in terms of governance, in terms of what you put in place for your employees, how you build your communities, what are you doing, and how you measure the impact on the environment. And the more important, it's what you develop and how you impact your customers. So we use B-Corp as really a good framework. After there is plenty of different, if you want to go deeper in terms of to have some good referential, there is other framework. But I think the better way, it's really understand what you try to target and after to build your own path. There is not really other kind of framework. There is so many now platform or solution to measure different aspects. But so it's what we experimented. For sure, we mentioned that agile organization model mindset is key. And agile, it's not only metologies, it's a mindset and it's good practices. So I see too many companies, large companies or SMEs, who try to embrace agile practices and governance. But really, they do it with what is really convenient for them. So and this is not the way. The way is you have definitely to embrace everything if you want to move forward. And perhaps to emphasize what has been said before, it's a right moment to leap forward. It's a right moment to leap forward and to accelerate. It's a right moment also to not only to target a carbon-free or sustainable business model, but it's to move forward and really to target to be a life regenerative business, which should be your long-term vision. But we have to go fast because as we have seen, 10 years, it's two more. So you don't have three to four years to start. It's now. Excellent. Well, thank you very much for speaking to that, Stanislaus. In terms of time scales, that actually leads us to the very last question we have before we move on to closing remarks. We've just received a question that has asked how each of you have navigated the tensions between the needs of the immediate present in your organization. And it sounds like survival with that of longer-term sustainability tensions. So it sounds like sort of navigating the difference between what you need to do now in terms of survival and keeping your business strong and then where you're aiming to go strategically from a more sustainable perspective. So I think we have time for either one or two responses before we need to wrap. Sure. I can try and answer that. Great. That would be great. Thank you. Yeah, so I think understanding where we are today, where we need to go, is really about getting different perspectives. If we've been operating in a certain business model, mental model, and suddenly the whole world has changed, we need to start looking at getting perspectives from other entrepreneurs and making those connections, learning from other people's experiences. As you know, there are a number of sort of these entrepreneur organizations around the world. I belong to one of them called the EO Network, the Entrepreneurs' Organization Network. And the beauty of it is when the pandemic hit, we could all learn from each other to figure out how are we preparing, how are we pivoting? And then now, as we look forward, again, we could go back to these networks, to these peers of other entrepreneurs and learn from them to figure out what different perspectives are they seeing that I am not seeing. So the key is, I think, don't get blindsided by sort of being in your own silos, thinking about it yourself or with your board or your management. There's thousands of entrepreneurs out there who are looking at the same problem, trying to operate in the same environment and learning from each other's experiences and failures and successes. I think it's the key to moving forward. Okay, great. Thank you. It sounds like you're almost speaking to the importance of these networks you have and your ability to rely on them and engage with these other founders through those networks. Okay, great. I think we have time for one more answer if Stennis Law or Elizabeth, you have any sort of last remarks on this and then I think we'll be wrapping up fairly soon. Perhaps to add to what has been already said, I've had something and it's more about, yes, to build resilient model. I think also financial independence and autonomous capital allocation is quite important because when you are under pressure on your market and you have some shareholders within your organization, within your board who are not aligned with your vision and your objective, that's a huge problem. So, and I think that a lot of entrepreneurs face this concern during the pandemic. I fully agree with what has been said also before. One other thing, it's to build distributed model. That means that perhaps not to be totally a focus on one market, one sector, one culture. Even if you are SMEs to build, to be multi-market, multi-sector, multi-cultural, it's really a key aspect for your growth or for your impact. And you can be really small enough to care and big enough to deliver your body when you are smaller or less. So it's, we said the two main other aspects that I could share also. Okay, thank you very much for highlighting those. It seems that from our conversation today, we've been able to hear very much about the importance of sort of networks and agility of being able to connect with other entrepreneurs in terms of business models, having that agile ability to shift to changing circumstances and talking about the need for having a very strong orientation and working with core values within your team and sort of finally touching a little bit on governance aspects, which are certainly critical from a more academic perspective, but are definitely coming up in terms of how we're understanding, how to respond from regulatory aspects as well. So for the very final remarks for this session, it is my pleasure and privilege to turn over to Francisco Betty, the head of the Future of Advanced Marketing and member of the Executive Committee for the World Economic Forum. Francisco. Thank you Ariel for the great conversation today and thank you to all of our panelists for their inspiring remarks. As we hear from most of you, small and new-sized enterprises are the backbone of our economies, representing up to 98% of companies in some sectors, such as manufacturing, which is the one I lead here at the World Economic Forum and actually representing 70% of employment worldwide. While SMEs are the most at risk within the context of the forced industrial revolution and some of the latest interruptions related to COVID-19, it is clear that they can also play the major role when it comes to boosting economic growth in a sustainable and inclusive way in particular. However, to succeed and be active drivers of change, SMEs need to be able to adapt and develop new strategies, build resilience and new capabilities. And through our work on the future of manufacturing, what we have observed is that to be able to improve their future readiness, SMEs can focus on two main areas. The first one is technology adoption, the ability to transform their processes, operating business models through forced industrial revolution technologies. And that's where collaborations with governments, with MNCs and other key players can play the major role. And with that, SMEs can be active drivers of innovation across multiple sectors. The second angle is the investment on people, upskilling, reskilling, and giving their workers the ability to be able to cope with the pace at which technology it's evolving. And I think that the very good news is that by developing these new capabilities, SMEs can have a clear and develop a clear competitive advantage enabling disrupted innovation. They can be among the quickest, the most agile to adapt in an increasingly complex environment and be able to respond to customer needs very often faster than larger companies. And finally, there can be clear champions when it comes to implementation of sustainable strategies and practices. Through our work, and I'm getting to the end of our, and especially our work on future readiness for SMEs, but also other initiatives, such as the global smart readiness index, we are committed towards supporting SMEs and helping build the public, private, multi-stakeholder partnerships that will help them thrive in this new global environment. And with that, let me thank you once again Ariel, our families. Thank you for a great conversation today and for joining us. And we look forward to seeing this in touch throughout the SDI 21 program. Thank you.