Research on the Survival Methods for Small and Medium-Sized Enterprises in the Post-COVID-19 Era

Xintong Cai ()
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Xintong Cai: University College London

A chapter in Proceedings of the 2022 2nd International Conference on Financial Management and Economic Transition (FMET 2022), 2023, pp 529-536 from Springer

Abstract: Abstract Small and medium-sized enterprises (SMEs) outside of the internet industry (i.e., traditional SMEs) are facing more challenges after COVID-19 because of uncertainties and budget concerns brought by COVID-19 and threats from the internet sector. This paper examines how traditional SMEs can survive in the post-COVID-19 era. Using case analysis and literature analysis, this paper investigates and compares survival methods used by general SMEs after COVID-19 and survival methods used by traditional SMEs before COVID-19. The study’s research question could be answered by examining whether there is a link between how general SMEs deal with undesirable economic changes after COVID-19 and how traditional SMEs deal with threats from the internet industry prior to COVID-19. Based on the results, cost optimization is shared between methods, whereas innovation types differ. This paper thus presents three strategies to help traditional SMEs survive after COVID-19. While traditional SMEs should adopt a cost optimization strategy, the three types of innovation should be selected according to their resources and environment.

Keywords: SME; COVID-19; Business model innovation; Product innovation; Cost optimization (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-054-1_57

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DOI: 10.2991/978-94-6463-054-1_57

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