Business resilience during a crisis – A study of the impacts of local grant funding on SMEs’ resilience in the wake of the COVID-19 pandemic

Tim Ford, Marcjanna M Augustyn and Reda Shaker Abdelkareem

Local Economy, 2024, vol. 39, issue 7-8, 325-344

Abstract: Business and place resilience have gained increasing attention in recent years. However, there is insufficient understanding of the role of local government in enhancing SME business resilience, especially during crises. This paper investigates the impacts of a local grant funding programme on the resilience of SMEs during a crisis and the SMEs’ future needs for local government support. The study was conducted in the aftermath of the COVID-19 pandemic within the context of a local grant funding programme provided by a UK local authority, supported by UK Government funding aimed specifically at coronavirus support for businesses. The study’s exploratory sequential mixed methods approach, combining an online quantitative survey with qualitative in-depth interviews, provides original and robust empirical evidence derived from real-world experiences of SMEs indicating that the local grant funding programme positively impacts SME resilience during a crisis and their future needs for local government support. The results of this study advance our understanding of SME business resilience and the effectiveness of local government intervention during crises. The research findings provide valuable insights for policymakers and SMEs in their attempts to adapt resources and assistance to changing post-crisis needs and to develop effective strategies for dealing with similar future crisis.

Keywords: business resilience; grant funding; crisis; COVID-19; SMEs (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:sae:loceco:v:39:y:2024:i:7-8:p:325-344

DOI: 10.1177/02690942251357844

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