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Impact of COVID-19 pandemic on micro, small, and medium-sized Enterprises operating in Pakistan
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 rec...
Autores principales: | , , |
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Formato: | Online Artículo Texto |
Lenguaje: | English |
Publicado: |
The Author(s). Published by Elsevier Ltd.
2020
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Materias: | |
Acceso en línea: | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7390797/ http://dx.doi.org/10.1016/j.resglo.2020.100018 |
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author | Shafi, Mohsin Liu, Junrong Ren, Wenju |
author_facet | Shafi, Mohsin Liu, Junrong Ren, Wenju |
author_sort | Shafi, Mohsin |
collection | PubMed |
description | 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. |
format | Online Article Text |
id | pubmed-7390797 |
institution | National Center for Biotechnology Information |
language | English |
publishDate | 2020 |
publisher | The Author(s). Published by Elsevier Ltd. |
record_format | MEDLINE/PubMed |
spelling | pubmed-73907972020-07-30 Impact of COVID-19 pandemic on micro, small, and medium-sized Enterprises operating in Pakistan Shafi, Mohsin Liu, Junrong Ren, Wenju Research in Globalization Article 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. The Author(s). Published by Elsevier Ltd. 2020-12 2020-07-30 /pmc/articles/PMC7390797/ http://dx.doi.org/10.1016/j.resglo.2020.100018 Text en © 2020 The Author(s) 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. |
spellingShingle | Article Shafi, Mohsin Liu, Junrong Ren, Wenju Impact of COVID-19 pandemic on micro, small, and medium-sized Enterprises operating in Pakistan |
title | Impact of COVID-19 pandemic on micro, small, and medium-sized Enterprises operating in Pakistan |
title_full | Impact of COVID-19 pandemic on micro, small, and medium-sized Enterprises operating in Pakistan |
title_fullStr | Impact of COVID-19 pandemic on micro, small, and medium-sized Enterprises operating in Pakistan |
title_full_unstemmed | Impact of COVID-19 pandemic on micro, small, and medium-sized Enterprises operating in Pakistan |
title_short | Impact of COVID-19 pandemic on micro, small, and medium-sized Enterprises operating in Pakistan |
title_sort | impact of covid-19 pandemic on micro, small, and medium-sized enterprises operating in pakistan |
topic | Article |
url | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7390797/ http://dx.doi.org/10.1016/j.resglo.2020.100018 |
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