scholarly journals The Influence of the COVID-19 Pandemic on Small and Medium Enterprises' Economic Security

2021 ◽  
pp. 78-82
Author(s):  
O. Olshanskyi ◽  
◽  
M. Kramchaninova ◽  
Keyword(s):  
Financial Support ◽  
Technological Progress ◽  
Service Industry ◽  
Small And Medium Enterprises ◽  
Economic Security ◽  
Economic Consequences ◽  
Negative Effects ◽  
The World ◽  
Medium Enterprises ◽  
The Impact

The article researches the influence of the COVID-19 pandemic on small and medium enterprises' economic security. The issues and challenges faced by SME as a result of COVID-19 pandemic's outburst are studied in the context of maintaining their economic security. It had been established that the impact of COVID-19 pandemic has a distinctive differential effect on certain sectors. The severity of financial turmoil varied throughout regions and sectors of economics, but generally forced the indexes of economic development to demonstrate negative dynamics. Following the economic crisis triggered by the pandemic, the service industry has suffered at most. The complexity of coordinating measures targeted at combating the spread of COVID-19 pandemic with economic development's priorities led to increase in threats hanging over the SME's economic safety. The authors summarize all of the factors in the picture influencing the productivity of small and medium enterprises' activities at the present time all over the world. The study identifies and explains the possibility of measures taken towards supporting enterprises and organizations, based on partnerships between businesses, government and civil society, and also lists recommendations for political measures, which might help the SME to maintain the level of economic security sustainable enough to navigate through the constantly changing environment. The scale of those measures taken against the negative effects of pandemic's economic consequences on small and medium enterprises' operation and development, implies the availability of target programs with financial support, infrastructural growth and professional consulting on the issues concerning SME, as well as supply of means proposed by digitization and technological progress. The measures introduced in the article may be insufficient to help small and medium enterprises survive the long-lasting crisis, however, may be sufficient for them to take time to adapt the activities of enterprises to the current conditions.

scholarly journals Covid-19 pandemic in central Asia: policy and environmental implications and responses for SMES support in Uzbekistan

2021 ◽  
Vol 258 ◽  
pp. 05027
Author(s):  
Konstantin Kurpayanidi ◽  
Alisher Abdullaev
Keyword(s):  
Developing Countries ◽  
Financial Support ◽  
Small And Medium Enterprises ◽  
Business Development ◽  
The Other ◽  
Environmental Implications ◽  
The World ◽  
The One ◽  
Medium Enterprises ◽  
The Impact

Today the economy of Uzbekistan, as well as the majority of other countries of the world, is developing in conditions of uncertainty. On the one hand, it is associated with the consequences of new coronavirus pandemic, and on the other - with the introduction of forced restrictions, which hinder business development. This article deals with the necessity to provide financial support to business during the coronavirus pandemic in developing countries. It shows the impact of measures to support small and medium enterprises on economic development. Finally, it outlines recommendations for additional interventions and further research.

THE ACCESS TO GOVERNMENT FINANCIAL SUPPORT THROUGH LEGAL CHANNELS OF SMALL AND MEDIUM ENTERPRISES IN FOUR ASIA PACIFIC COUNTRIES

2020 ◽  
Vol 9 (2) ◽  
pp. 298
Author(s):  
Muhamad Marwan
Keyword(s):  
Financial Support ◽  
Small And Medium Enterprises ◽  
Mediation Effect ◽  
Asia Pacific ◽  
Survey Questionnaire ◽  
Access To Finance ◽  
Medium Enterprises ◽  
The Impact ◽  
The Relationship

The aim of this study is to determine the impact of networking on SME’s ability to access government financial support through legal channels in Asia Pacific. This study is quantitative in nature in which the data has been gathered from 281 employees and managers working in SMEs through survey questionnaire. The SEM technique was utilised for the purpose of analysing and testing the mediation effect. The study found that there is a partial mediation of government financial support through legal channels among the relationship between networking with officers and access to finance. This study is restricted to the SMEs operating in the region of Asia Pacific.

scholarly journals RISK MITIGATION FOR SMALL AND MEDIUM-SIZED ENTERPRISES (SMES) IN THE MIDDLE OF VOLATILITY IN THE WORLD’S ECONOMY CONDITION

2021 ◽  
Vol 4 (1) ◽  
pp. 34-39
Author(s):  
Gresika Bunga Sylvana
Keyword(s):  
Business Processes ◽  
Small And Medium Enterprises ◽  
Risk Mitigation ◽  
The Great Depression ◽  
The World ◽  
National Leaders ◽  
World Economic ◽  
Economy Condition ◽  
Medium Enterprises ◽  
The Impact

ABSTRACT Indonesia's economic growth in the first quarter of 2020 of 2.97% was released by the Central Statistics Agency (BPS). It is undeniable, that number is the lowest growth rate in the last 19 years. We understand that the economic disruption caused by the COVID-19 pandemic did occur in various parts of the world. A significant economic slowdown is a big task for many national leaders. Some world economic experts even mention that the disruption of the economy due to this pandemic can resemble the effects of the Great Depression of 1930 ago. If we review the impact of the COVID-19 pandemic which has caused extraordinary disruption in the economic field, it is seen that Micro, Small, and Medium Enterprises (MSMEs) are a sector that is quite severe. Basically, the concept of risk management is not commonly used in SMEs business processes. This is because, in general, the resources owned by SMEs are quite limited. However, in this paper I want to illustrate at least there are simple concepts that can be applied by SMEs.

scholarly journals Dampak Dampak covid-19 terhadap Usaha MIkro, Kecil dan Menengah

2021 ◽  
Vol 4 (1) ◽  
pp. 662-669
Author(s):  
Siti Nuzul Laila Nalini
Keyword(s):  
National Economy ◽  
Small And Medium Enterprises ◽  
The World ◽  
Medium Enterprises ◽  
Almost All ◽  
The Impact

The COVID-19 pandemic has an impact on the economy, social and politics of not only big countries but almost all countries in the world. Indonesia is one of the countries affected especially on the economic side. Indonesia, which is dominated by Micro, Small and Medium Enterprises (MSMEs), needs to pay special attention to this sector because the contribution of MSMEs to the national economy is quite large. This journal aims to analyze the impact of the COVID-19 pandemic on the existence of MSMEs in Indonesia and how solutions can help MSMEs survive in a COVID-19 pandemic situation.

scholarly journals COVID-19 - Digital Transformation and Digital Competency

2021 ◽  
Vol 9 (3) ◽  
Author(s):  
P Venkat Kamesh
Keyword(s):  
Digital Literacy ◽  
Small And Medium Enterprises ◽  
Developed Countries ◽  
Digital Transformation ◽  
Common People ◽  
Working Paper ◽  
The World ◽  
Digital Payments ◽  
Medium Enterprises ◽  
The Impact

The COVID-19 pandemic has caused serious and long-term disturbances in people's lives all over the world, in both developing and developed countries. This has led to financial crisis and great depression in the GDPs of many countries. It has not only impacted the Multi-National Businesses (MNCs) but also disturbed the Small and Medium Enterprises (SMEs) and life’s of man vulnerable people. As the crisis continues, the pandemic's pervasive impacts, which have affected every part of our communities, continue to unfold, leaving profound marks on people's livelihoods and countries' economies that are likely to persist for several years after the pandemic has ended. As part of the global response to COVID-19, the digital technology industry especially Fintech (Financial Technology) has been instrumental in creating and delivering services and technologies that have mitigated, at least in part, the pandemic's effect on multiple aspects of people's lives in every part of the world. The Fintech companies and Start-ups have played a tremendous role in mitigating the inconvenience for the common people by implementing the next generation solutions for everyone and the people were quick to adopt to such a change. The interest and surge of usage of Fintech applications (Digital applications related to Finance/Payments/Banking/Ecommerce) carries in preserving people’s livelihoods and businesses that have been, and continue to be, threatened by the pandemic COVID-19. This working paper will discuss about the impact of digital payments in the developing country like India during COVID-19, Pre-COVID-19, evolution of digital transformation in India from the past few years, People adoption to digital technologies, digital literacy intensification in emerging markets and also discusses the future trends of Fintech and its impact on consumers and businesses even after the pandemic ends.

scholarly journals The Impact of Technology in the Field of Accounting in Small and Medium Enterpresis

2019 ◽  
Vol 8 (4S3) ◽  
pp. 445-449
Keyword(s):  
Information Technology ◽  
Competitive Advantage ◽  
Web Sites ◽  
Small And Medium Enterprises ◽  
Human Errors ◽  
The World ◽  
Commercial Enterprise ◽  
Impact Of Technology ◽  
Medium Enterprises ◽  
The Impact

The impact of information technology in accounting is playing a major role in small and medium enterprises information technology has been the prevailing impact to businesses and around the world .It is now given stretching from the perspective of technology and it is benefits as to whether it can be effective, that is improving small and medium enterprises performance, where many if not most of businesses implementation include competitive advantage, reduction in human errors. Companies in telangana state have different reasons for frequent improvement of technology to existing technologies used in the companies. an system application practices company outlined that the usage of technology to maximise your industrial enterprise productiveness creates the platform to recognise authentic employer success business productivity and statistics technology guarantees businesses have the equipment to conquer the challenges of executing on technique each day and prospering in gift international scenario.. Small and medium enterprises business firms implements technology because it enables the company to keep up with other small and medium enterprises business firms in throughout the world. And technology allows businesses to decorate their communique strategies. using emails and awesome web web sites can help agencies beautify communique with purchaser.. This permits in retaining competitive advantage and commercial enterprise corporation owners can use generation to reduce commercial organization costs. And it enables in automating decrease lower back workplace features, for example file of ebook retaining, accounting and payroll. generation also can be used to create secure environments for maintaining sensitive organization or consumer facts. in international situation

Peculiarities of financial state support of small and medium enterprises in ukraine in modern conditions

2021 ◽  
pp. 135-142
Author(s):  
Denys Korytin
Keyword(s):  
State Policy ◽  
Local Governments ◽  
Financial Support ◽  
Small And Medium Enterprises ◽  
Legal Regulation ◽  
Economic Security ◽  
The State ◽  
State Support ◽  
Credit Guarantees ◽  
Medium Enterprises

Problem setting. The formation of state policy to support small and medium enterprises (hereinafter - SMEs) requires consideration of global developments in the direction of legal regulation and economic and managerial justification of certain forms of support. In addition, within the globalized market, as well as taking into account Ukraine's desire to approximate national legislation to EU law, it is not possible to create mechanisms to support SMEs without adapting to global standards, that is, mechanisms similar to conventional ones should be invented. Of course, international documents, including the European Charter for Small Enterprises, can be a guide. Analysis of resent researches and publications. Legal analysis of certain means of state support for small and medium enterprises was carried out by such scientists as N. M. Vnukova, S. V. Hlibko, A. M. Lyubchych, I. V. Podrez-Riapolova, A.T. Zavadska and others. At the same time, this paper will analyze the implementation of financial support for small and medium enterprises, taking into account current government programs. The target of research is to conduct a comprehensive analysis of financial support for small and medium enterprises provided by the state, represented by public authorities and local governments, taking into account the principles of European Union law and current national and international programs to support entrepreneurship in Ukraine. Article’s main body. One of the most popular and effective forms of support is state financial support for SMEs. It is noted that the support from the financial and credit system reflects, in fact, the financial and economic relations between the state and market actors on the redistribution of funds. The state program «5-7-9» offers partial compensation of the interest rate on the hryvnia loan in combination with the mechanism of partial credit guarantees to address the problem of lack of collateral and insufficient credit history. The program is implemented by the Ministry of Finance of Ukraine, the Foundation for Entrepreneurship Development (formerly the German-Ukrainian Foundation) through a network of partner banks in partnership with the Ministry of Economy and the Office for Small and Medium Enterprises to prevent, spread and eliminate COVID-19 disease caused by the crown virus SARS-CoV-2, and to prevent and overcome their effects. By analyzing the statistical information of the ten largest banks, it was found that there is no unity in the terms of lending, lending is not within a single program, but for individual loan products of banks, which may differ from each other. Conclusions and prospects of the development. Summarizing the above, it is possible to conclude that the current state policy to support SMEs is characterized by the presence of a significant network of funds. One of the most relevant of these is the provision of soft loans. At the same time, there is insufficient information support for the process of direct provision of this support. In view of this, it should be noted that in order to ensure the economic security of the state, these forms should be used through a system of state bodies and organizations, local governments and organizations that must exist in reality, and electronic (virtual) portals for services should operate in additions to the real ones.

scholarly journals Organizational and legal aspects of tourist formalities in the context of the impact of the COVID-19 pandemic on the economic security of micro-enterprises

2020 ◽  
Vol 5 (5) ◽  
pp. 322-329
Author(s):  
Serhiy Tsviliy ◽  
Darya Gurova ◽  
Svitlana Nykonenko
Keyword(s):  
Legal Education ◽  
Legal Aspects ◽  
Economic Security ◽  
Legal Assistance ◽  
Negative Effects ◽  
Doing Business ◽  
The World ◽  
The Impact ◽  
Micro Enterprises

The article is devoted to finding ways to increase the level of economic security of domestic microbusiness enterprises in the region in terms of COVID-19. It is established that regional micro-companies in the field of tourism suffer unjustified losses and need legal assistance, additional knowledge on the regulation of the specifics of doing business, obtaining advice on the latest tourism formalities in the world. It is proposed to create a legal hub to protect the interests of travel microcompanies of Zaporizhzhia region, the priority cooperation of which is advisory, informational, legal education and legal work, as well as providing organizational and legal assistance to micro-entrepreneurs in creating their own mechanism to counteract the negative effects of COVID-19.

scholarly journals STRATEGI BISNIS PADA KINERJA PERUSAHAAN ERA COVID-19

2021 ◽  
Vol 11 (2) ◽  
pp. 158-183
Author(s):  
Desfitrina Desfitrina ◽  
Zulfadhli Zulfadhli ◽  
Triana Agustini
Keyword(s):  
Business Strategy ◽  
Structural Equation ◽  
Small And Medium Enterprises ◽  
Creative Industries ◽  
Equation Modeling ◽  
Analysis Tool ◽  
Verification Methods ◽  
The World ◽  
Medium Enterprises ◽  
The Impact

The emergence of natural phenomena in the abundance of the entire population on earth resulted in a large enough impact, especially health and economy in various sectors of society in the world. The Coronavirus has devastated micro, small and medium enterprises that have gone bankrupt but there are also opportunities for micro, small and medium enterprises. But there are also some sectors that have benefited and become opportunities to reap profits, such as virtual internet telecommunications and mask making, not all have gone bankrupt, as happened in the tourism, culinary, hotel, and restaurant sectors that cannot adapt to today's difficult times. My shopping habit of visiting places has decreased. This habit leads to virtual services to reduce transactions crowding with many people so that the Coronavirus can be reduced. Efforts to reduce activities outside the home will open up opportunities for micro, small and medium enterprises online so that people use the internet and don't crowd. Turning on micro, small and medium enterprises so that the impact of corona can be avoided quickly. Changes in people's behavior that reduce outdoor activities and networks of creative industries and small and medium-sized businesses in the largest business sector in the world that appear to be Covid-19 are quite depressed in dealing with problems and building businesses. This research method is descriptive and verification methods, the analysis tool is structural equation modeling (SEM, Lisrel). The results show that how the influence of business strategy on the performance of small and medium scale companies during the Covid-19 period. Keywords: Business Strategy, Company Performance, Micro, Small And Medium Enterprises, Financial Performance, On The Covid-19 Epidemic   Abstract: Munculnya fenomena dari alam secara tiba-tiba yang menimpah seluruh penduduk dimuka bumi mengakibatkan dampak yang cukup besar terutama kesehatan dan ekonomi diberbagai sektor masyarakat didunia. Virus Corona memporak porandakan  usaha mikro kecil  menengah yang mengalami kebangkrutan tetapi ada juga peluang bagi usaha mikro kecil dan menengah. Tetatpi ada pulah faktor yang mendapat keuntungan  dan menjadi kesempatan untuk meraup keuntungan seperti  bidang telekomunikasi internet virtual dan pembuatan masker tidak semua mengalami  kebangkrutan seperti yang terjadi pada bidang pariwisata, kuliner, hotel dan restoran yang tidak bisa beradaptasi dengan masa sulit saat ini. Kebiasaan  shopping  dengan mendatangin tempat sudah berkurang.  Kebiasaan ini mengarah pada layanan virtual guna mengurangi transaksi yang berkerumun dengan banyak orang agar virus Corona dapat berkurang. Usaha untuk mengurangi aktivitas diluar rumah ini akan membuka peluang usaha mikro kecil dan menengah di jalur daring agar masyarakat menggunakan internet dan tidak berkerumun. Menghidupkan Usaha mikro kecil dan menengah dapat agar dampak corona dapat dihindari secara cepat. Perubahan perilaku masyarakat yang mengurangi aktivitas di luar ruangan dan jaringan Industri kreatif dan usaha kecil menengah pada sektor bisnis terbesar di dunia yang yang tedampak covid-19 cukup tertekan dalam menangani masalah dan membangun usaha. Metode penelitian ini adalah metode deskriptif dan verifikasi, alat analisisnya adalah pemodelan persamaan struktural (SEM, Lisrel). Hasil penelitian menunjukkan bahwa strategi bisnis berpengaruh terhadap kinerja perusahaan skala kecil menengah masa covid-19.   Keywork: Business Strategy, Kinerja Perusahaan, usaha mikro kecil menengah,kinerja keuangan, pademi Covid-19

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