Effects of COVID-19 on Businesses in Ilocos Norte, Philippines (original) (raw)
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RSF Conference Series: Business, Management and Social Sciences
The study investigates the effects of the pandemic brought about by Covid-19 on Ilocos businesses and establishments. The study participants were the owners of micro, small and medium businesses in Ilocos Norte, and they were selected using a convenience sampling technique. The study employed a quantitative research design, and the entrepreneurs were asked about the perceived impact of Covid-19. Using descriptive statistics, the findings divulged that the impact of the Covid-19 pandemic on the businesses ranged from retrenchment of employees, disruption in the supply chain, and temporary to permanent shutdown. The impact of the pandemic includes uncertainties, the decline in productivity, demand, and sales. Implications, conclusions, and recommendations were also provided in the study.
COVID-19 Pandemic and Business Survival as Mediation on the Performance of Firms in the FMCG-Sector
Athens Journal of Business & Economics 2021, 7: 1-22 , 2021
COVID-19 pandemic has become a global issue causing the restriction of people and international trading and it has affected the loss of jobs and closure of firms all over the world. This paper aims to examine COVID-19 pandemic and business survival as a mediation on the performance of firms in the Fast moving consumer goods (FMCG) sector: insight for the future of business operation. Cross-sectional survey research design was adopted making use of stratified and simple random sampling technique as a guide to select participants while data analysis was subjected to exploratory factor analysis (EFA), confirmatory factor analysis (CFA) and structural equation model (SEM). The findings show that COVID-19 pandemic has affected the performance and survival of businesses in Nigeria leading to the loss of jobs, firm productivity, customer retention, increase unemployment rate, closure of businesses and GDP of Nigeria as a whole. The research has been able to provide insight on the need for full integration of technology into all the firm operational process and for the firm to remain flexible to accommodate changes as imposed on the firm's operations through environmental uncertainties such as the pandemic. The study is the first of its kind to examine the extent of the effect that COVID-19 pandemic have had on the survival, performance of businesses and the gross domestic product (GDP) of the country since its eruption and announcement in China and has been able to provide insight by exposing most organization's weakness especially with regard to technology-adoption and its integration into all the firm operational capabilities as is the reason why most firm struggle to meets customer needs during the lockdown.
The Philippine Review of Economics, 2021
The Management Association of the Philippines (MAP) commissioned the School of Economics of the University of Asia and the Pacific (UA&P) to conduct a study aimed at understanding the impact of the COVID-19 outbreak on various industry sectors and to draw possible policy measures for both government and private institutions to help the affected sectors deal with the pandemic’s negative effects and gradually return to stable business operations. An online survey of pre-selected thirty-three (33) representatives from key priority sectors which recorded sharp contractions in the first two quarters of 2020 and which had a share to GDP of above 1 percent was conducted. To validate the survey results, stakeholder interviews were also conducted with more than 10 firms via the zoom video conferencing platform. The survey results confirmed the negative impact of the pandemic at the firm-level (i.e., decrease in employee compensation, decline in headcount, loss of revenue and other liquidity ...
The impact of COVID-19 pandemic on the Malaysian firms’ operation
International Journal of Epidemiology and Health Sciences, 2021
Background. The worldwide economic impact of the COVID-19 pandemic is comparable with the largest disastrous events of modern human history, such as the first and second world wars. This study investigated the nationwide impact of the pandemic on the local Malaysian firms. Methods. A cross-sectional, online survey was carried out in East and West Malaysia by inviting the Malaysian firms’ executives to fill in a questionnaire that was adopted from previous similar studies in other countries. The final questionnaire included 16 questions distributed in three categories. The executives of firms were contacted through email and social media. SSPS was used to analyse the collected data. Results. A total of 379 responses were received. Nearly 42% of firms reported a small impact with some difficulties in business operations but overall stability. Approximately 32% of businesses were severely impacted, and operations were barely maintained. Six percent of the firms had no significant diffi...
European Journal of Business and Management Research
The Micro, Small and Medium Enterprises (MSMEs) are the key players of the development and growth of the Philippine economy that created to country’s employment (Ronquillo, 2021). However, the COVID-19 pandemic brought disruptions to the MSMEs as they were challenged with the declaration of the nationwide lockdown. Further, they were forced to confront with the challenges of business continuity and survival. The Business Continuity Plan serves as a guide to ensure continuity of the business during and post a crisis. This study determined the level of the business continuity planning of the Micro and Small enterprises in Cotabato City during the COVID-19 pandemic; its level of business performance during the year 2020 and 2021; and the relationship between the business continuity planning and business performance in year 2020 and 2021. Moreover, descriptive-correlational research design was utilized in this study and a total of 100 micro and small entrepreneurs were the respondents. ...
IMPACT OF COVID-19 AS A PANDEMIC ON VARIOUS INDUSTRIES: A CONCEPTUAL PAPER
Grassroots, 2021
Pandemics always create dreadful effects not only on human life but also drastically influence businesses and industries. Historical evidence has apparently indicated that the outbreak of Spanish flu, SARS, MERS, and Ebola viruses, all created radical impacts on businesses around the globe, leaving behind the economic structures into miseries and deprivations. Similar is the case of COVID-19 outbreak which instigated from China and dispersed all over the globe. In Pakistan, the first case was reported in March 2020 and since then the government has relentlessly tried to impose lockdown and social distancing in order to avert the harm. It has been substantiated that the public isolations and lockdowns have not only yielded negative impacts on the economy but also on different forms of business and employment. Therefore, this study is aimed to analyze potential impacts of COVID-19 on different forms of industries in Pakistan through gathering the public opinion as the source of data. The study is one of the preliminary studies therefore it is based on descriptive design in order to show perceived impact of outbreak of virus. Results indicated that the pandemic is harmful and affecting most of the business in negative manner however there are some businesses which are burgeoning on opportunities emerged from the pandemic and attaining growth due to the spread of the virus.
IMPACT OF COVID-19 PANDEMIC TO LOCAL BUSINESSES IN CALASIAO
Manipon, Vitancol. (2021). IMPACT OF COVID-19 PANDEMIC TO LOCAL BUSINESSES IN CALASIAO, Volume 1, Page 1-57., 2020
Social distancing restrictions and demand shifts from COVID-19 are expected to shutter many small local businesses. This paper provides an analysis of the impacts of the pandemic on the number of 20 active small local businesses in Calasiao, Pangasinan. The purpose of this study is to know-how is the performance of the local businesses in our area and impacts in times of our currently facing COVID-19 pandemic. This study involved the use of the descriptive method. This study utilized primary data to fragment and to further discuss the impact of the Covid-19 Pandemic on local businesses. They were chosen using the non-probability convenience sampling technique. Major findings of this study consist of; 75% Calasiao, Pangasinan local business owners are female – local businesses are consisting of most women owners most likely in developing areas to support the family needs (Female Agenda, 2016), 50% of the local business owners are 30 years old above – adults in these areas have knowledge in entrepreneurship because they already have a broad understanding and are able to manage investment money in the business (Kumar 2009), 25% the local business owners are operating food stalls as their business strand/type – as stated by BusinessOrg (2019) food stalls are increasing in numbers because of its accessibility to public and small capital is just needed, where local business owners can afford to start their own without investing in such big needed capital businesses like fisheries, market, and services, 70% of local business owners are high school graduates – according to CNBC (2021) business owners who skipped out on education (mainly college) all shared some common threads: self-reliance, a good idea and a willingness to take risks, the local business owners experienced decreased of sales varies from 50%, 35%, and 15% – according to World bank (2020) the main reason of local business owners decreased sales is limited operation (58 percent) and inability of customers to come to establishments (38 percent), 44% of local business owners are lacking of customers – US Chamber (2021) stated that whether it's due to public health concerns, strict in-store capacity limits or less disposable income among their customer base, it's not surprising that many small businesses have lost some momentum in their customer relationships throughout the COVID-19 pandemic, 67% of local business owners are struggling –according to a recent poll conducted by the World bank (2021), 70% of small business are still concerned about the financial impact of COVID-19 on their business, with 58% fearing they may have to close permanently due to their struggling momentum in this time of pandemic due to loss of customers, support, and rising debt, and 31% of local business owners are become creative to showcase their products – according to The Conversation (2021) creativity will help businesses survive these pressures and secure their place in this volatile, uncertain, complex and ambiguous world. It’s not just about coming up with creative ideas, but putting these local business owners into action and responding to the shifting priorities as new regulations are enforced throughout the pandemic. Overall, our paper contributes to our understanding of the economic impact of COVID-19 on the small business ecosystem. The fate of the 20 local business owners who work in small businesses is closely tied to the resilience of the small business ecosystem to the massive economic disruption caused by the pandemic. Our results highlight the role the length of the crisis will play in determining its ultimate impact, which policymakers should consider as they contemplate the scale of the required interventions. These findings of stage losses to small businesses have important policy implications and may portend longer-term ramifications for job losses and economic inequality.
Logistic and Operation Management Research (LOMR)
The study investigates the effects of the pandemic brought about by Covid-19 on Ilocos businesses and establishments on its business operations and supply chain. The study participants were the 352 owners of the micro, small, medium, and large businesses in Ilocos Norte, and they were selected using a convenience sampling technique. The study employed a quantitative research design, and the entrepreneurs were asked about the perceived impact of Covid-19 on the supply chain. Using descriptive statistics, the findings divulged that the impact of the Covid-19 pandemic on the businesses ranged from retrenchment of employees, disruption in the supply chain, and temporary to permanent shutdown. The impact of the pandemic includes uncertainties, the decline in productivity, demand, and sales. This study implies that COVID-19 significantly affects operations, primarily supply chain management. Numerous organizations are pursuing local sourcing as a result of supply chain disruptions.