Entrepreneurship after COVID-19 : an assessment of the short- and long-term consequences for Indian small business (original) (raw)
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The field of entrepreneurship has witnessed rapid growth over the past four decades, with entrepreneurs being catalysts for change and innovation. In recent years, Indian startups have emerged as a significant force, making strategic decisions crucial for their survival in dynamic markets. The COVID-19 pandemic has posed unprecedented challenges to businesses globally, particularly affecting startups with their inherent vulnerability to external changes. This research explores the determinants of startups in India during and after the COVID-19 pandemic. The study aims to identify key factors influencing startups and understand their interrelationships. By conducting personal interviews with entrepreneurs and subject experts, the research examines positive and negative factors affecting startups, views on government schemes, and the impact of COVID-19 on the entrepreneurial landscape. The methodology employs Interpretive Structural Modeling (ISM) to analyze qualitative data and identify key determinants. Nine critical determinants for startups in India are identified, including changing global scenarios, changing consumer behavior, individual traits, creativity, finance, government policies, business environment, marketing, and human resources. The ISM analysis reveals the interdependence and hierarchy among these determinants. The study emphasizes the need for entrepreneurs to recognize, analyze, and manage these determinants for effective startup design and implementation. The findings contribute to understanding the complex dynamics of startups in the Indian context, offering insights for policymakers, regulators, and entrepreneurs. The research concludes that despite challenges posed by the pandemic, startups in India are adapting by leveraging agile processes and innovative strategies. Recommendations include a focus on strengthening government support, fostering a conducive business environment, and promoting financial accessibility for startups. The study provides a holistic view of startup determinants, paving the way for informed decision-making and sustainable growth in the post-pandemic era.
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Small and medium-sized enterprises (SMEs including the selfemployed) account for 90% of businesses globally and provide 70% of employment worldwide. These businesses, typically entrepreneur led, are threatened by the Covid-19 pandemic, meaning that millions of jobs are at risk. This report presents insights from a global study conducted during the pandemic in 2020. We surveyed over 5,000 entrepreneurs in 23 countries that represent 3/4 of the world's economic output. Most entrepreneurs faced significant challenges threatening the survival of their businesses. We also see resilience in how entrepreneurs navigated the crisis through being agile, adaptive, and exploring new opportunities, utilizing government support, giving back to society, and even harbouring growth ambitions beyond the pandemic.
Unprecedentedly, the COVID-19 (Coronavirus) outbreak causes businesses with many unforeseen challenges due to its rapid spreading and global reach. Due to the global magnitude and changing impact of the Covid-19 crisis, there is an urgent need to consider its effects on entrepreneurship. Therefore, more and more businesses are now looking to improve their continuity plan to better prepare for the impact of COVID-19. Thus, the present study aims to investigate the effect and consequences of COVID-19 in entrepreneurial firms. With the purposive sampling technique's aid, data were garnered from entrepreneurs and small-business owners in the Vavuniya district with in-depth interviews. The majority of the informants interviewed disclosed that the COVID-19 devastated firms' productivity, demand, customers' loss, and, consequently, performance. Moreover, it has been found that the COVID-19 epidemic has given an open-door for entrepreneurs to conduct their business operations online.
The outbreak of the coronavirus disease (COVID-19) has severely affected the Micro, Small, and Medium-sized Enterprises (MSMEs). Unfortunately, small businesses are being hit hardest by the fallout of the pandemic [1] and are being addressed by the Department of Trade Industry (DTI) with several measures and initiatives to mitigate its impact on the Philippine economy. This study was conducted to describe the status and effects of the pandemic to the Micro and Small Entrepreneur graduates of the Kapatid Mentor ME (KMME) Program of DTI in the province of Nueva Ecija, Philippines, as the agency's guide in streamlining the future direction of the program. The descriptive method of research was used with a semi-structured one-page online survey to determine the KMME MSE graduates' profile and the overall impact of COVID-19 pandemic particularly during the declaration of the community quarantine. The data gathered showed that most of the KMME MSE graduates continued their business operations amidst the pandemic. They are responding to the economic fallout in several ways with optimism, government response and interventions that are significant to ensure MSEs survival. Likewise, they develop resilience through business continuity trainings, productivity improvements, and subsidies.
Covid-19 and Indian Women Entrepreneurship
JWEE
Women entrepreneurship is an emerging issue that captures the attention of researchers and policymakers. Women entrepreneurship is the source of making women financially independent, socially connected, and mentally healthy. Women entrepreneurship is the way to empower women to utilize their skill set to earn profit from small-scale businesses and create jobs for many people. However, women's entrepreneurship still gets attention in a socio-cultural country like India. Women are facing tremendous challenges in the way to pursue their business idea. This paper explores entrepreneurial intention among Indian women during the Covid-19 crisis. The study has used a semi-structured questionnaire consisting of 27 statements of entrepreneurship motives for data collection. A Sample of 550 women was approached from rural and urban areas in Haryana (India) through purposive sampling. The final sample comprises 528 women, representing a 96% response rate. Data has been analyzed through SPS...
Exploring the aspects of Social Entrepreneurship during Covid 19 Pandemic in India
Parikalpana: KIIT Journal of Management, 2021
Social entrepreneurship has social, cultural, educational and environmental goals. The primary objective of social entrepreneurship is not to earn profits but to provide innovative solutions to solve a variety of urgent social problems for welfare of the society. Efforts are made to provide information about the challenges and opportunities of social entrepreneurship in India. This paper also attempts to shed light on different successful social entrepreneurs along with their initiatives and contribution towards society during Covid 19. A literature review of secondary data resources is undertaken to get a clear idea about the different exploratory aspects of three prominent social enterprises during pandemic such as SELCO, Goonj and Narayana Health. Social entrepreneurs experienced some critical issues during Covid 19 such as dearth of a viable business plan, Lack of funds, qualified manpower, limited to definite geographies etc. are few challenges before social entrepreneurs. There are opportunities of social entrepreneurship in terms of providing employment to rural people. So, they can explore, exploit and provide the products and services at affordable prices. Thus, generating employment opportunity which is significant for the overall development of the country.
IMPACT OF COVID 19 PANDEMIC ON MICRO SMALL AND MEDIUM ENTERPRISES
IAEME PUBLICATION, 2021
In India Micro Small and Medium Enterprises (MSME) contribute major portion to the GDP. MSME sector is more sensitive one and all the changes in the economy will affect the MSME’s suddenly. MSMEs are the most vulnerable sector after the spread of COVID 19. Problems like fall in production, fall in demand, networking problems, reduced profit etc are some major problems faced by MSME’s during that time. In this study an attempt is made to identify the level of problems faced by MSMEs in Kerala during COVID 19, awareness of entrepreneurs about initiatives of Government created for revival of MSME entrepreneurs after COVID 19 and the changes made by entrepreneurs in their enterprise for revival of their business units after lockdown. Convenience sampling is used for collecting primary data from MSME entrepreneurs working under industrial estates in Kerala. The study is helpful for authorities to understand the problems in MSME sector and easy revival of MSME sector. Study analysed that, is there any significant difference in problems faced by MSME’s before COVID 19 and during COVID 19. It was observed that, MSMEs faced high level of problems after COVID 19 than before COVID 19 and their awareness level about the schemes of Government announced for the entrepreneurs is low. ANOVA, MANOVA, Paired T test, Chi-square test were used in the study.
The Impact of COVID-19 on Entrepreneurship Globally
Journal of Economics and Business, 2020
The Journal of Economics and Business is an Open Access publication. It may be read, copied, and distributed free of charge according to the conditions of the Creative Commons Attribution 4.0 International license.