What are the Effects of Pandemic to Small and Medium enterprises and economy?

[Blue house]

Either big or small scale business, the pandemic has affect it negatively, it has even crashed some business, the pandemic has adverse effect on almost all busness that was put on halt that period of time except for the online business.

 

[Henrywrites]

Is there any sme you know that are now closed or temporarily closed due to pandemic? What are the effects of it your country's economy?

Most businesses especially those working in the hospitality sector had serious issues during the lock down. I know a friend that lost her job during the pandemic as she was a bar tender in one of the restaurants we have around here. It wasn't easy for her to recover and I can imagine how it affected others. It was a terrible 2020 for most businesses and I pray it doesn't repeat itself in 2021.

 

[Bilal0087]

Is there any sme you know that are now closed or temporarily closed due to pandemic? What are the effects of it your country's economy?

The pandemic situations cause the lockdown which have very severe effects on a country's economy. Most of the small scale businesses have worse effect, for example clothing business fast food business and grocery shops, all were closed during lockdown.

 

[Tariq Shehzad]

Every field of life is badly affected by the pandemic covid-19 and the pandemic has affected greatly all areas of life including the economy at large behalf of the business side. It has stopped the progressing of the economy.

 

[Adexgrace]

Especially to small businesses pandemic has caused a lot of effect and also makes business experience low improvement and also low sales. Even some medium business are affected, including some large and big organization.

 

[Mave24]

Because of this pandemic, most of the small scale businesses are forced to shutdown which resulted to more difficulty to have a stable job and a source of income that will help them during this time of crisis especially to poor countries like mine.

 

[MarieArie]

Micro Small and Medium Enterprises play a crucial role for economic development of African countries. They are a vital engine in African economy, since they drive growth, create employment, especially among youth and spearhead innovation. They provide a customer base to larger companies across the supply chain and supply vital goods and services to companies and households, helping to keep the wheels of the economy in motion.

 

[shakky2]

most small and medium scale business are just developing and these businesses requires rapt attention and dedication to be able to grow but since the inception of this pandemic most people have limited access to growing their business since there are strict rules bounding how you can move

 

[Briangsam]

The global pandemic has had global effects on many countries, many businesses and many economies. But I don't think anyone feels the effect more than businesses that are just budding off. SMEs are at the tail end of the graph and are feeling the effects more. I have seen businesses shut down.

Post automatically merged: Feb 6, 2021

The global pandemic has had global effects on many countries, many businesses and many economies. But I don't think anyone feels the effect more than businesses that are just budding off. SMEs are at the tail end of the graph and are feeling the effects more. I have seen businesses shut down.

 

[BuchiBankz]

Since the pandemic broke out both SME businesses were affected.
Some businesses had to closed down, some workers were layed off, which result to high cost of food productions and food shortages.
The covid19 has revealed the weakness of many Small and Medium business owners.
Some re still trying really hard to stay afloat once again

 

[Adebayonle7]

The pandemic affected all businesses whether big or small. It was bad for the smaller businesses because many only depended on their daily sales to live and continue. They had long and short term liabilities from loans they've acquired to either start or grow their businesses. The pandemic brought lockdowns which prevented revenues from coming in thereby forcing these businesses not to keep up with debt repayment schedules forcing them to spend all they have & had and going into bankruptcy.

 

[Veetos12]

Is there any sme you know that are now closed or temporarily closed due to pandemic? What are the effects of it your country's economy?

The issue of pandemic that struck last year has created a bigger problem for many businesses most especially private owned businesses. It became difficult for most of them to operate due to the strict rules imposed by the federal government to uphold lockdown rules which in return made most of this businesses to fold up when not run actively.

 

[tuna89]

The effects of the pandemic is negative on businesses and causes the buying power or patronage to fall drastically, people tend to save more money than spending on expenses during this period, most people may have to stay at home as well. You can take your business online and target a large number of people who are staying safe at home, thereby delivering to them. This method should suffice for your business within the mean time.

 

[Shayo]

The pandemic affected almost all sectors if not all. Borders and ports were closed which affected the economy since importation and exportation were paused, prices of goods went high, some manufacturers and wholesalers were also hoarding their goods and this caused scarcity, most small businesses depend on their daily income and they soon ran of goods to sell.

 

[Nicklas22]

The pandemic has been terrible on small and medium enterprises and the economy of my country has never been the same ever since this corrona virus started
Some small enterprises has even short down

 

[Rimsha kanwal]

To safeguard a new or established business, it is necessary to understand what can lead to business failure and how each obstacle can be managed or avoided altogether. The most common reasons small businesses fail include a lack of capital or funding, retaining an inadequate management team, a faulty infrastructure or business model, and unsuccessful marketing initiatives.

Post automatically merged: Feb 6, 2021

To safeguard a new or established business, it is necessary to understand what can lead to business failure and how each obstacle can be managed or avoided altogether. The most common reasons small businesses fail include a lack of capital or funding, retaining an inadequate management team, a faulty infrastructure or business model, and unsuccessful marketing initiatives.

 

[Ghazi1402]

The role of small and medium enterprises (SMEs) and its contribution to real economy is well recognized, and great evidence is reported in the international literature. Based on prior experience and empirical evidence, entrepreneurship, and SMEs in particular, can quickly identify and commercialize new market trends. Especially, in turbulent times when opportunities are increasing, and where convex policies and strategies may work better for regulators and entrepreneurs. Nowadays, as covid-19 moves from a public health pandemic to an economic crisis, it would be of great interest for entrepreneurs, employees, managers, and policy decision-makers to identify major trends under and after covid-19, forecast how SMEs in the globe will react, and where to spend our energies.

 

[mubinadaddy]

This pandemic have really disrupt so many business which made alot of business to go out of business in this today world. Why because the economy of the country is down because no moving out and if there is no movement there is no way business will grow rather than collapse.

 

[Edward2]

Yes in fact there are a lot of small business here in our place that has been closed due to the pandemic,, most of it are forced to close due to the shortage of such customers which leads to a very small profit these days and later on affects the salary of such employees. There are also some that did not closed but chooses to minimize their workers.

 

[Chibson]

The covid-19 pandemic has affected so many businesses, both small and medium. The covid-19 has brought about losses to many businesses around the world. even though I can't speak specifically to any business I know personally at was closed down due to the covid-19 pandemic but of course I know it has affected many people.