73
views
0
recommends
+1 Recommend
1 collections
    0
    shares
      • Record: found
      • Abstract: found
      • Article: not found

      Impact of COVID-19 Pandemic on Micro, Small, and Medium-Sized Enterprises operating in Pakistan

      research-article

      Read this article at

      ScienceOpenPublisherPMC
      Bookmark
          There is no author summary for this article yet. Authors can add summaries to their articles on ScienceOpen to make them more accessible to a non-specialist audience.

          Abstract

          The outbreak of coronavirus disease (COVID-19) has severely affected the global and Pakistani economy. Major victims of the COVID-19 outbreak are Micro, Small, and Medium-Sized Enterprises (MSMEs). This article aims to assess the impact of COVID-19 outbreak on these businesses and provide policy recommendations to help MSMEs in reducing business losses and survive through the crisis. We adopted an exploratory methodology with comprehensively reviewing the available literature, including policy documents, research papers, and reports in the relevant field. Further, to add empirical evidence, we collected data from 184 Pakistani MSMEs by administering an online questionnaire. The data were analyzed through descriptive statistics. The results indicate that most of the participating enterprises have been severely affected and they are facing several issues such as financial, supply chain disruption, decrease in demand, reduction in sales and profit, among others. Besides, over 83% of enterprises were neither prepared nor have any plan to handle such a situation. Further, more than two-thirds of participating enterprises reported that they could not survive if the lockdown lasts more than two months. The findings of our study are consistent with previous studies. Based on the results of the research, different policy recommendations were proposed to ease the adverse effects of the outbreak on MSMEs. Although our suggested policy recommendations may not be sufficient to help MSMEs go through the ongoing crisis, these measures will help them weather the storm.

          Related collections

          Most cited references26

          • Record: found
          • Abstract: not found
          • Article: not found

          Social Capital: Prospects for a New Concept

            Bookmark
            • Record: found
            • Abstract: found
            • Article: not found

            To recover faster from Covid-19, open up: Managerial implications from an open innovation perspective

            Covid-19 has severely tested our public health systems. Recovering from Covid-19 will soon test our economic systems. Innovation will have an important role to play in recovering from the aftermath of the coronavirus. This article discusses both how to manage innovation as part of that recovery, and also derives some lessons from how we have responded to the virus so far, and what those lessons imply for managing innovation during the recovery.
              Bookmark
              • Record: found
              • Abstract: found
              • Article: not found

              Masters of disasters? Challenges and opportunities for SMEs in times of crisis

              Small and medium-sized enterprises (SMEs) are the backbone of every economy. So, when an external crisis jeopardizes markets, such as the recent COVID-19 outbreak, SMEs are hit with great force. Their so-called liability of smallness, a lack of resources that would shield them from outside shocks, worsens the situation. This manuscript conducts a literature study on 69 manuscripts that studied SMEs in previous crises and proposes ways to overcome economic downturns in the areas of finance, strategy and the institutional environment. The paper finds a “strategy/funding chicken-and-egg-problem” and proposes an effectual world view when dealing with situations of great uncertainty.
                Bookmark

                Author and article information

                Contributors
                Journal
                Research in Globalization
                The Author(s). Published by Elsevier Ltd.
                2590-051X
                2590-051X
                30 July 2020
                30 July 2020
                : 100018
                Affiliations
                [a ]Center for Trans-Himalaya Studies, Leshan Normal University, Leshan, China, Sichuan, China
                [b ]Center for Trans-Himalaya Studies, Leshan Normal University, Leshan, China
                Author notes
                [* ]Corresponding author. Mohsin_shafimemon@ 123456yahoo.com
                Article
                S2590-051X(20)30007-1 100018
                10.1016/j.resglo.2020.100018
                7390797
                07b3ce01-3dc6-4445-8feb-50ae5881adac
                © 2020 The Author(s). Published by Elsevier Ltd.

                Since January 2020 Elsevier has created a COVID-19 resource centre with free information in English and Mandarin on the novel coronavirus COVID-19. The COVID-19 resource centre is hosted on Elsevier Connect, the company's public news and information website. Elsevier hereby grants permission to make all its COVID-19-related research that is available on the COVID-19 resource centre - including this research content - immediately available in PubMed Central and other publicly funded repositories, such as the WHO COVID database with rights for unrestricted research re-use and analyses in any form or by any means with acknowledgement of the original source. These permissions are granted for free by Elsevier for as long as the COVID-19 resource centre remains active.

                History
                : 4 May 2020
                : 20 July 2020
                : 23 July 2020
                Categories
                Article

                covid-19,msmes,pakistan,crisis,policy recommendations,business survival

                Comments

                Comment on this article