From Challenges to Creativity: Enhancing SMEs’ Resilience in the Context of COVID-19

Zutshi, Ambika and Mendy, John and Sharma, Gagan Deep and Thomas, Asha and Sarker, Tapan ORCID: (2021) From Challenges to Creativity: Enhancing SMEs’ Resilience in the Context of COVID-19. Sustainability, 13 (12):6542. pp. 1-16.

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COVID-19 pandemic has brought significant and multiple challenges for SMEs. While SMEs have traditionally faced financial and non-financial crises, the pandemic has brought about additional uncertainties on how to maintain business continuity. The purpose of this paper is to examine how SMEs can mitigate against COVID-19-related crisis by examining the impacts that the pandemic has had on them through a review of 34 articles. The thematic analysis from the literature covered three overarching and inter-related challenges including (i) cost and finance-related challenges, (ii) disruption of activities, and (iii) existential difficulties. The paper’s value lies in addressing the gap between the espoused literature’s claim of the beneficial impact of new technological advancements and SMEs’ ability to survive in the context of the COVID-19 pandemic. The additional value of this paper is a framework of recommendations to help enhance SMEs’ resilience and responsiveness in the context of COVID-19. These recommendations include collaboration, openness, taking advantage of opportunities/victory, and durability.

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Item Type: Article (Commonwealth Reporting Category C)
Refereed: Yes
Item Status: Live Archive
Faculty/School / Institute/Centre: No Faculty
Faculty/School / Institute/Centre: No Faculty
Date Deposited: 27 Apr 2022 00:49
Last Modified: 31 May 2022 01:04
Uncontrolled Keywords: COVID-19; Rapid review; Resilience; SMEs; Technological advancements
Fields of Research (2020): 35 COMMERCE, MANAGEMENT, TOURISM AND SERVICES > 3502 Banking, finance and investment > 350299 Banking, finance and investment not elsewhere classified
Socio-Economic Objectives (2020): 15 ECONOMIC FRAMEWORK > 1599 Other economic framework > 159999 Other economic framework not elsewhere classified
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