A STUDY OF THE INFLUENCE OF COVID-19 ON THE COMPETITIVENESS OF THE SMALL AND MEDIUM-SIZED ENTERPRISE(SME’S)
Abstract
The present study aim is to find out the influence of the covid-19 pandemic on small and medium-sized businesses and tries to identify various innovative practices adopted by SME’s during pandemics in India. To performed the study, data was collected from various managers of small and medium enterprises between 2019 and 2021, to look at the effects of the 2019 coronavirus disease (COVID-19) on small and medium-sized enterprises. There were some recurring patterns. First, only a few weeks into the crisis, significant downsizings and closings had already occurred. Second, the likelihood of closure was oppositely proportional to the predicted duration of the crisis. Furthermore, businesses have wildly differing opinions on how long COVID-related interruptions should last. Third, a large number of small and medium-sized businesses are having financial difficulties. Fourth, the many of firms strategic to seek funds through the CARES Act (Coronavirus Aid, Relief, and Economic Security). However, majority individuals anticipated challenges in finding the programme, such as trouble defining eligibility and bureaucratic red tape. The study also compares the innovative techniques of the companies and performance & survival of the SMEs. Innovative techniques include acquiring external knowledge, giving importance to organization structure, leadership, regeneration, employee’s activities, external support.
Keyword : Small and Medium-Sized Enterprise (SMEs), COVID-19, Creative and Innovative practices, Crisis.
This work is licensed under a Creative Commons Attribution 4.0 International License.
References
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