| Pub. Date | : June' 2022 |
|---|---|
| Product Name | : The IUP Journal of Business Strategy |
| Product Type | : Article |
| Product Code | : IJBS010622 |
| Author Name | : Amitabh S Dutta, Kishore G Kulkarni and Kun Peng Lai |
| Availability | : YES |
| Subject/Domain | : Strategic Journals |
| Download Format | : PDF Format |
| No. of Pages | : 16 |
This study uses a modified version of the questionnaire used in Zou et al. (2020) to survey a sample of privately held Micro, Small and Medium Enterprises (MSMEs) in India concerning the impact of Covid- 19 pandemic on business performance, what the owner/managers of firms did to survive, and what they feel about how their company will navigate 2022. Our survey results show that firms not only faced tremendous challenges to recover from the unprecedented shock of economic distress, but they also did it mostly without much official financial help. The paper reviews the few available survey studies and analyzes the results of the survey conducted. One can deduce that the lack of assistance had a severe effect on the survival of such MSMEs.
Just as with the rest of the world, the Indian economy took a severe dip with the onset of the
Covid-19 pandemic. Each country has had to face its own individual challenges, with different
waves of the virus spread and evolving variants with differing levels of health impacts. Several
studies have been published since 2020 that document various research findings of the havoc
this pandemic has created in the economies of countries, regions, specific areas within
countries, and so on. It will take some time for researchers to be able to capture the true
impact on society from this global health tragedy. Each study will hopefully help shed a new
light and add to our collective knowledge on the impacts of Covid-19 around the world.
As the main focus of this study, we wanted to gauge the effects of this pandemic on small
and medium sized businesses in India, a sector that typically gets neglected in research, given
that such entrepreneurial ventures are not publicly traded firms. So, being privately held
companies means we have no audited financial statements available for gauging their
performance. The only way to get information is by survey, administering a questionnaire to
the owner/managers of these enterprises. Therefore using the primary data (as we do here)
was seen as the only solution to this problem of lack of information.