Response strategies for SMEs in the time of pandemic COVID-19

Abstract

The COVID-19 pandemic has had a major effect on people’s lives and economies worldwide, presenting numerous challenges to private, public, and business organizations. To date, small and medium enterprises have been hit the hardest. That is why governments all over the world are actively encouraging and supporting SME growth as part of their overall development strategy, since SMEs are the most important business sector in any world economy. Therefore, resolving the challenges that SMEs face in the context of COVID-19 is critical. This paper seeks to shed light on the main strategic responses to crisis, especially for SMEs. Although deeper research is needed to better understand crisis strategy-making.