Fit 4 Resilience : A programme to help companies reinvent themselves after the COVID-19 crisis

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Within the context of the larger post-Covid-19 economic recovery strategy “Neistart Lëtzebuerg”, Luxinnovation, with the support of the Ministry of the Economy, has set up a new strategic innovation programme called "Fit 4 Resilience". Fit 4 Resilience provides local businesses with solid professional technical assistance. By taking part in the programme, SMEs can analyse and understand better new client needs as well as seize digital, sustainability and circular economy opportunities. PwC Luxembourg is honoured to be chosen as one of the approved consulting firms.

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06/07/2020 |
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The Covid-19 outbreak has been declared a public health emergency of international concern by the World Health Organization. It has caused huge impact on people's lives, businesses and communities and has greatly affected Luxembourg SMEs (Small and Medium Sized Businesses) who are generally the most vulnerable to unpredictable events such as COVID-19 and who are now potentially facing a number of significant challenges in unexpected ways, from a decrease or complete cessation of activity and cash flow and profitability difficulties associated with it, to reduced staff, severe supply-chain disruption and productivity reduction.

The progressive resumption of activities is an opportunity for SMEs to review their strategic positioning, their development plans and their operations so they equip themselves with an action plan that can guarantee their sustainability and future resilience.

What is Fit 4 Resilience?

Fit 4 Resilience is a crisis exit and strategic repositioning programme. Conducted with help from consultants approved by Luxinnovation such as PwC Luxembourg. The programme includes:

  • An analysis of the impact of the crisis on external factors (market, competition, products, supply, logistics, distribution, etc.)
  • An analysis of the impact of the crisis on internal factors (processes, digitalisation, etc.)
  • A study of strategic choices and the preparation of a short- and medium-term roadmap (including thoughts about the circular economy, regionalisation and digitalisation)
  • Financial support from the Ministry of the Economy (paid up-front)

Resilience is defined as the ability to get through crises and to reinvent oneself. This programme takes the form of in-depth support for businesses of a certain size. It is designed to help them to learn how to draw lessons from the crisis, both in their internal functioning (use of digital tools, leadership, internal communication, etc.) as well as from the perspective of systemic external changes (supply chains, more regional and/or circular approach, etc.).The objective is to support them in a concrete way in the relaunch of their activities and to establish with them a short and medium-term strategic plan to make them more resilient.

Nature of the support

The support takes the form of face-to-face interviews and workshops (in compliance with the health precautions in force).

These are:

  • carrying out a diagnosis of the business's strategic positioning including the analysis of its ecosystem, its products, its customers, its supply and distribution channels, in order to anticipate the impact of the crisis on these different components;
  • then carrying out a structured reflection on the strategic choices to be made for the future, by integrating the perspective of a more digital, circular and regional approach.

The analysis is carried out with the help of consultants with, among other things, expertise in strategy, management, process optimisation, finance and new technologies. In order to ensure the same level of quality in the coachings provided, all consultants apply the same methodology, defined upstream by Luxinnovation.

Laurent Probst, Partner, Economic Development & Innovation, PwC Luxembourg says, “The Fit 4 Resilience programme offers effective and rapid support for eligible SMEs in Luxembourg that have been impacted by the Covid 19 crisis. We know that smaller local businesses have suffered  dramatic changes and setbacks  and will continue to be exposed to the negative impact of the ongoing epidemic outbreak. We are committed to offering support by acting as a consultant  for this programme to help SMEs prepare and respond to this novel situation. SMEs need support now and immediately and the development of this programme by Luxinnovation, with the support of the Ministry of the Economy, demonstrates our country’s agility and desire to strengthen the resilience not only of these companies but our economy as a whole.”

How does it work?

It is important that any SME that is considering participation in the Fit 4 Resilience programme go to the Luxinnovation Fit 4 Resilience page and carefully read the step by step guide on eligibility, validation of eligibility, choice of consultant, the programme itself and fixed-rate aid.

If chosen as the consultant, at the end of the mission, within 7 days following the last coaching session, Pwc Luxembourg must provide the beneficiary business and Luxinnovation with a report including the following elements:

  • executive summary;
  • diagnosis of the impact of the crisis on the business:
  • external analysis: market (including a section on the circular economy), competition, customer profile, distribution or supply channels, etc.;
  • internal analysis: organisation, functioning (including a section on digital maturity);
  • short and medium-term action plan and road map.
  • It is important to stress that each consultant is asked to put each recommendation in perspective with the 17 Sustainable Development Goals (SDG).

In addition, the consultant must organise a feedback meeting to which Luxinnovation is invited. Within 7 days after the feedback meeting, the consultant submits the final report including the comments made by the parties during the feedback meeting.

The purpose of the programme is to support a strategy to end the crisis, the objective of which is to draw up an analysis and propose an action plan adapted to the needs of the company. At the end of this exercise, Luxinnovation takes over to provide assistance adapted to the needs of the business (possible orientation towards other state aid schemes, search for financing, ...).

You can find more information on our website.

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