Thukral E. COVID‐19: Small and medium enterprises challenges and responses with creativity, innovation, and entrepreneurship.
Strategic Change 2021;
30:153-158. [PMCID:
PMC8207047 DOI:
10.1002/jsc.2399]
[Citation(s) in RCA: 18] [Impact Index Per Article: 6.0] [Reference Citation Analysis] [What about the content of this article? (0)] [Affiliation(s)] [Abstract] [Key Words] [Track Full Text] [Subscribe] [Scholar Register] [Indexed: 06/17/2023]
Abstract
SMEs are significantly affected by COVID‐19 crisis as they overrepresent hardest‐hit sectors such as retail, hospitality, food services, entertainment services, and construction. The discovery and the spread of COVID‐19 in the absence of cure have led governments to take drastic measures, including the lockdown of large parts of society and social distancing resulting in behavioral changes. Some SMEs are responding to the crisis by applying creativity to problems to obtain opportunities. However, it is because of resilience that they can see an opportunity in chaos and survive uncertain times, but, to convert those opportunities to reality, some government interventions are needed to correct the negative effects of lockdown restrictions by revitalizing the entrepreneurial ecosystem.
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