MSME Resilience in the Face of COVID-19 and Beyond: A Meta-Analysis of Factors that Influence MSME Resilience

Admiral Athallah Darmawan and Jahen Fachrul Rezki
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Jahen Fachrul Rezki: Institute for Economic and Social Research, Faculty of Economics and Business, Universitas Indonesia (LPEM FEB UI)

No 202582, LPEM FEBUI Working Papers from LPEM, Faculty of Economics and Business, University of Indonesia

Abstract: This study investigates the resilience of Micro, Small, and Medium Enterprises (MSMEs) during the COVID-19 pandemic by analyzing firm characteristics and entrepreneurial competencies. Utilizing a meta-analysis approach, 60 literature studies and 425 empirical estimates were examined. The findings reveal that entrepreneurial competence, encompassing entrepreneurial orientation, networking and social capital, and human capital, significantly enhances MSME resilience more than firm characteristics such as firm size, business age, and financial capital. Additionally, technological utilization and cultural aspects (uncertainty avoidance, individualism, and motivation towards achievements and success) were assessed as moderating factors. The results indicate that robust ICT infrastructure, proficiency, and utilization, along with supportive policies, bolster MSME resilience. The study also underscores the negative impact of high uncertainty avoidance and individualism on resilience, whereas motivation towards achievement and success positively influences resilience. The analysis of Indonesian MSMEs, incorporating 26 literature studies and 91 empirical estimates, corroborates these findings, highlighting the greater impact of entrepreneurial competence. The study suggests the need for targeted policies and support programs to enhance MSME resilience through technological and cultural adaptation.

Keywords: MSME; resilience; —; entrepreneurial; competence; —; firm; characteristics; —; meta-analysis (search for similar items in EconPapers)
JEL-codes: L25 L26 (search for similar items in EconPapers)
Date: 2025-82, Revised 2025
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