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Stimulus measures supporting economic recovery

Promove presents a series of stimulus measures supporting economic recovery, with an overall envelope of more than 200 000 CHF. The association will unfold its action plan over the next months.

Following the support of the web platform enabling local business owners forced to close during the lockdown, to sell vouchers to costumers, which allowed for the redistribution of nearly 100 000 CHF to local stakeholders, and a broad public awareness campaign on local consumption (“Consommez aussi local que possible et aussi souvent que nécessaire. Sauvez des emplois.”), Promove is setting up a series of measures promoting different sectors of the regional economy.

As a first step, in order to support stakeholders of the tourism sector, confronted by bleak prospects at the beginning of a summer season impacted particularly by the absence of guests from the Middle East and the US, as well as from Asia, Promove (the regional economic promotion), together with Montreux-Vevey Tourisme and the Commission for Residency and Tourist Taxes, participates since late April in a task force bringing together all relevant stakeholders in the region, such as hotels, festivals, restaurants, shopkeepers and retail traders as well as tourism service providers. The aim of this task force is to develop a new concept of hospitality tied to the development of holiday activities, the positioning and the communication of the region as a 2020 summer destination of choice.

Promove is thus highly involved, financially and by the provision of expertise, through Montreux A.Live et Vevey A.Live, two associations established in order to carry out this project under the slogan of “Dolce Riviera”.

In the medium term, starting this fall, a financial commitment supporting the establishment of one or several new and recurring conventions and conferences will help to boost the off-season dynamics of individual tourism. As the economic benefits of this segment of the tourism sector are particularly important, the specific aim of this measure is to no longer promote Montreux merely as a host city, but rather as an organizing city of recurring national and international professional events, involving (local) private service providers.

Confronted by the “new post-COVID-19 reality”, the exporting companies will have the opportunity to re-assess elements of their business strategy at an exclusive interactive session with M. Yves Pigneur, prominent business management expert and co-founder of the “Business Model Canvas” template for strategic management and lean startup. The half-day session is thought as a complement to an invitation to this years Swiss Economic Forum, taking place in Montreux on the 2nd and 3rd of September, and which should be synonymous with business opportunities.

In order to help improve the resiliency of local businesses, especially in the light of the possibility of a second wave of the pandemic and its now well-known economic consequences, a call for projects in the field of local distribution logistics and e-business will be offered to artisan and merchant organizations. Each accepted project will receive a 10 000 CHF grant and should be carried out before October 2020 on a municipal or inter-municipal level.

With the same intention to strengthen the regional economy in the context of the current uncertainties, artisan SME (small and medium-sizes enterprises) will be offered one-on-one assessment sessions aiming to provide possible ways to improve cost structures and management processes. These sessions have been developed in partnership with leading accountancy, taxation and audit experts (in the region?). 

At last, businesses in the tertiary sector, more precisely in the administrative areas, will be offered detailed information, particularly about the legal and organizational challenges of videoconference and remote work, the two main go-to ways of working during the crisis and which raise more questions than they provide hope when it comes to their long-term professional implementation.

For Promove, this series of exceptional measures represent an unprecedented commitment. Along with the human effort, a significant financial contribution has been enabled by the association’s own capital and a major private donation. With these actions, we wish to offer a tangible contribution in line with the necessary efforts to stimulate the economic recovery in the wake of the COVID-19 health crisis.

The press release in PDF format