Investigating the success factors of small and medium-sized enterprises in sustaining business operations during COVID-19 (original) (raw)
Related papers
The Impact of COVID-19 on SMEs in Malaysia and Recovery Strategies
Dr. Azizan Osman, 2021
COVID-19 led to the reduction in business operations, disruption, and closure of many SMEs in Malaysia. The movement control orders by the Malaysian government imposed lockdown restrictions, which affected the movement of products. These restrictions reduced SMEs business operations significantly, affecting the sustainability of SMEs. The objective of this article was to determine the impact of COVID-19 on SMEs in Malaysia and the recovery strategies. The study employed a qualitative approach. The impacts of COVID 19 on SMEs in Malaysia are Reduced revenue, supply chain disruptions, increased operational costs, economic decline, loan moratorium, massive layoffs, and bankruptcy. The recovery strategies are adoption of sustainable business models, SMEs digitalization, entrepreneurial orientation, financial management, supply chain planning, business continuity planning, innovation practices, and policy intervention. The paper recommends that further research on the impact of COVID-19 on other businesses in different sectors.
COVID-19 and its Impact on Small and Medium Enterprises: Evidence from Malaysia
International Journal of Academic Research in Accounting, Finance and Management Sciences, 2021
The COVID-19 pandemic has inflicted nations with enormous impact, socially and economically. This study seeks to examine the impact of COVID-19 on SMEs in Malaysia. The data was collected from a questionnaire-based survey and interviews conducted in July and early August 2020. The results of this study focused on the background of the SMEs, the impact on SMEs during Covid 19 crisis, particularly on the use of online distribution channel to sustain their business, and the economic stimulus package provided by the government to the SMEs. Findings showed that the severity of COVID-19 impact on SMEs in Malaysia differs according to the nature and size of the business. Among the impacts noted in this study are disruption in the business operation, reduction in both the supply and demand of the products, low production, financial instability, and the shift to the digital distribution channel. Moreover, this study indicated that government intervention plays a significant role in facilitat...
International Journal of Academic Research in Business and Social Sciences
The Covid-19 pandemic that hit turned out to stretch a tremendous impact to the Malaysia economy in macro and micro level including the SMEs company. Statistic shows that 37,415 business operators from the SMEs cluster had severely affected and have got to closed the business due to the enforcement of Movement Control Order (MCO). Despite large numbers of business closure, there are also some small and medium F&B operator who have managed to generate more income during pandemic. Moreover, data issued by Companies Commission of Malaysia (SSM), from 1 April to 19 July 2020, 82,555 new businesses were registered. This show that, COVID-19 does not prevent anyone to venture into business including SMEs. Sustainable SMEs play a key role in a country's long-term viability. In order to redevelop the collapse of SMEs during Covid-19, deeper attention and consideration are needed to discover the causes of this phenomena. Study about the impact of entrepreneurial resilience on success of small and medium F&B operator during COVID-19 in Malaysia are very scanty. Thus, this study is done to explore a lack of study on Malaysian small and medium food operator's success during pandemic attributed by entrepreneurial resilience. In future this study could give direction and description of ways to sustain during pandemic among F&B SMEs.
The Analysis of Survival Strategies in Small Medium Enterprises During Coronavirus Pandemic
Journal of Business and Management Review, 2022
This study aims to (a) describe the problems faced by SMEs during the Pandemic and the capacity of SMEs in solving these problems (b) analyze the survival strategy of SMEs in order to survive during the pandemic. This type of research is a qualitative case study. The research location is in Malang Raya, which includes the city of Malang, Malang district and the city of Batu, East Java. The research subjects were 30 business managers of fashion SMEs in Malang, consisting of 10 owners and 20 employees. Collecting research data through interviews, observation and documentation. Data analysis uses SWOT analysis which includes strengths, weaknesses, opportunities and threats. The results showed that the problem faced by fashion MSME actors during the Covid 19 pandemic in Greater Malang was the decline in the number of sales until some went out of business. Most of the fashion MSME managers have not been able to operate digital marketing, so they still hope that consumers will come to buy...
Small and Medium Enterprises Business Strategy in Pandemic COVID-19
Jurnal Iqtisaduna, 2020
The COVID-19 pandemic that has hit the world including Indonesia since early 2020 has had a significant impact on the Indonesian economy, especially in the Small and Medium Enterprises (SME’s) sector. This study aims to determine an efficient business strategy to survive the COVID-19 pandemic in Padangsidimpuan City. This study uses descriptive qualitative analysis techniques with semi-structured interview methods using purposive sampling in selecting sources and then analyzed with SWOT analysis and described in the form of a matrix so as to produce several alternative SME’s business strategies during the COVID-19 pandemic. The results showed that several sectors in Padangsidimpuan City felt the direct impact of the COVID-19 pandemic, such as the areas of public transportation and tourism which experienced a decline. Meanwhile, in the food sector it is still stable, but in services such as expeditions and delivery it has increased. The narrow space of movement between sellers and bu...
Frontiers in Psychology
The COVID-19 pandemic created a significant economic decline and altered market behavior, forcing buyers and dealers online. The traditional local market merchants are not fully equipped with e-commerce business techniques and strategies, which is a barrier to their e-commerce behavior and success. The study aims to help small-medium firms adapt to an uncertain economic environment instead of reducing or shutting down business-like in Pakistan. From health to education, economy to domestic and social protection, various researches have been done since 2020. The researcher used primary data sources and did a Quantitative study after collecting the 240 samples size of data from the successful e-commerce players of Pakistan. The results confirm that customer satisfaction is essential for entrepreneurs to succeed, as customers were not satisfied with online shopping during COVID-19. Customer knowledge management (CKM) and job satisfaction (JS) are studied as potential and realized capac...
Financial viability and performance of small and medium enterprises in the COVID 19 pandemic
Business, Management and Economics Engineering, 2022
The Covid-19 caused a great damage to the global economy along with the public health. The small and medium sized enterprises and their entrepreneurs SMEs were hit very badly during this time. The majority of the small or medium sized enterprises had to either close or face the significant drop in their revenue during the times of pandemic. Adapting the digital technology was very difficult for the small or the medium firm to establish their business but still the online sales help these entrepreneurs to improve the revenues during the pandemic. These SMEs were the most impacted sector in the globe during the lockdown. As there was significant reduction in this sale and which was very disappointing to the entrepreneurs throughout the globe. Due to which the government and other private sectors came forward to support the SMEs and in later part of 2020 these SMEs were very efficient in terms of delivery, approaching the clients and giving the quick responses. Therefore there are many success stories of these SMEs in the emerging market as most of these EMEs were operated in the informal way and were able to develop the economy and also overcome the challenges by adopting the various digital and many advanced technologies to improve and bring more innovations in their business by reengineering process. Hence the economic progression was normalized throughout the globe after 2020. The aim of this research is to explore problems faced by the SMEs during the COVID-19 and how technology adoption could help them in sorting out the problems using the digital marketing.
E3S Web of Conferences, 2022
This study aims to analyse the real impact of the COVID-19 pandemic for small businesses and what recuperation strategy needs to be implemented from the perspective of business owners including opportunities for using digital business technology and what the business owner expects from government to help the recover. This research was conducted using a quantitative descriptive method. Data collected using online questionnaires, through various MSBE communities in Aceh. 150 questionnaires distributed using non-probability sampling. In addition, several interviews with respondents were conducted to gain insight into the impact of covid-19 on their business. The spread of Covid-19 did have a negative impact on the small businesses that were respondents in this study. The biggest impact is the decline in sales because the demand for its products and services is decreasing. As a result, employers did the downsizing of by decreasing their business scale, and laying off employees. Entrepre...
Ulum Islamiyyah
The Covid-19 coronavirus pandemic is a human tragedy affecting tons of people around the world. The outbreak of the Covid-19 pandemic, and the following Movement Control Order (MCO), is driving the community to embrace a new norm and to speedily adapt to new ways of lifestyles. The outbreak imposed negative impacts on global economy, industries as well as business community. Small and medium enterprises (SME's) are among the hardest hit following the application of the new norm, the Covid-19 and the MCO, back to March 2020. Therefore, the study mainly highlights on the factors that would accelerate and thrive the performance of SMEs during the COVID-19 pandemic, hence would help SME to survive. The study was conducted by collecting data through survey and utilizing quantitative method.
COVID 19 and the Business Management Crisis: An Empirical Study in SMEs
Sustainability, 2021
The COVID-19 pandemic has forced many firms to close, causing an unprecedented interruption in trade in most sectors of economic activity worldwide. Although global supply chains have been affected by the general lockdown, due to their particular characteristics, small and medium-sized enterprises (SMEs) have been hit most severely by the measures implemented to prevent the spread of the virus. This study aims to determine how these firms coped with the disruption caused by the closure, in terms of population and their daily lives to carry out their economic activities. For this purpose, a qualitative methodology (descriptive and inductive) was used through the use of snowball sampling with a questionnaire in Portugal during the lockdown. The results obtained show that SMEs face a series of difficulties from interrupting their operations, which has caused serious liquidity problems, with effects on their future continuity and maintaining jobs. Additionally, it showed the importance ...