Socio-Economic Impact of COVID-19 Pandemic on Small and Medium-scale Enterprises (SMEs) in India
Abstract:
Purpose: Small and Medium-scale Enterprises (SMEs) face problems with a lack of funds and liquidity for remuneration to their employees, usage of technology, etc. Hence, the research study aims to identify the social and economic impact of the COVID-19 Pandemic on Small and Medium-scale Enterprises across the Nation.
Research methodology: The data extraction procedure uses exploratory study with systematic review technique from the different directories of journals. A thorough qualitative and quantitative analysis based on peer-reviewed journals worldwide is conducted to recognize, ascribe, and explore the upcoming trends and to establish suggestions and recommendations for future research in this particular domain.
Results: The study identified the significant social impact connected to the provision of limited capability regarding medical literacy and awareness and various social stigma, an obstacle in attaining the purpose of timely disease treatments in Small and Medium-scale Enterprises. The study further explored that gender biases and residential discrimination led to unfair treatment regarding healthcare facilities.
Limitations: The study considers the COVID-19 Pandemic, whereas, in the future, there may be a possibility of other kinds of artificial or natural disasters.
Novelty: The research mainly deals with the national effect of social factors during the crisis in addition to the economic impact on Small and Medium-scale Enterprises (SME).
Downloads
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
Abedi, V., Olulana, O., Avula, Venkatesh.,Chaudhary, D., Khan, A., Shahjouei, S., Li, J. & Zand, R. (2020). Racial, Economic, and Health Inequality and COVID-19 Infection in the United States. Journal of Racial and Ethnic Health Disparities. Springer. URL: https://doi.org/10.1007/s40615-020-00833-4
Abiad, A., Arao, M., Dagli, S., Ferrarini, B., Noy,I., Osewe, P., Pagaduan, J., Park, D. & Platitas (2020). The Economic Impact of the COVID-19 outbreak on Developing Asia. Asian Development Bank. JAMA. DOI: http://dx.doi.org/10.22617/BRF200096
Akpan, I. J., Paul, E. A. & Adebisi, B. (2020). The Indian Journal of Labour Economics. Journal of Small Business & Entrepreneurship. Taylor and Francis Publication. DOI: 10.1080/08276331.2020.1820185
Alves, J. C., Lok, T. C., Luo, Y., & Hao, W. (2020). Crisis challenges of small firms in Macao during the COVID-19 Pandemic. Frontiers of Business Research in China, 14(1), 1-23.
Ali, I., Alharbi, O. M..L. (2020). COVID-19: Disease, management, treatment, and social impact. Science of the Total Environment. Elsevier. URL: https://doi.org/10.1016/j.scitotenv.2020.138861
Amankwah-Amoah, J., Khan, Z. & Wood, G. (2020). COVID-19 and business failures: The paradoxes of experience, scale, and scope for theory and practice. European Management Journal. Elsevier Publication. URL: https://doi.org/10.1016/j.emj.2020.09.002
Aneja, R. & Ahuja, V. (2020). An assessment of socioeconomic impact of COVID-19 Pandemic in India. Journal of Public Affairs. Wiley Publication. DOI: 10.1002/pa.2266
Anoke, F., Ngozi, N. . H., Uchechukwu, E. S., & Joyce, I. (2022). Entrepreneurial Marketing And SMEs Growth In Post Covid-19 Era In Awka, Anambra State, Nigeria. International Journal of Financial, Accounting, and Management, 4(2), 115–127. https://doi.org/10.35912/ijfam.v4i2.833
Apostolopoulos, N., Ratten, V., Petropoulos, D., Liargovas, P., & Anastasopoulou, E. (2021). Agri?food sector and entrepreneurship during the COVID?19 crisis: A systematic literature review and research agenda. Strategic Change, 30(2), 159-167.
Ashraf, B.N. (2020). Economic impact of government interventions during the COVID-19 Pandemic: International evidence from financial markets. Journal of Behavioral and Experimental Finance. Elsevier. DOI: https://doi.org/10.1016/j.jbef.2020.100371.
Bai, C., Quayson, M. & Sarkis, J. (2021).COVID-19 Pandemic Digitization Lessons for Sustainable Development of Micro-and Small- Enterprises. Sustainable Production and Consumption. Elsevier Publication. DOI: https://doi.org/10.1016/j.spc.2021.04.035
Banerjee, D.& Rai, M. (2020). Social isolation in Covid-19: The impact of loneliness. International Journal of Social Psychiatry. Sage Publications. DOI: 10.1177/0020764020922269
Bakhtiari, S., Breunig, R., Magnani, L., & Zhang, J. (2020). Financial constraints and small and medium enterprises: A review. Economic Record.
Bartik, A. W., Bertrand, M., Cullen, Z., Glaeser, E. L., Luca, M. & Stanton, C. (2020). The impact of COVID-19 on small business outcomes and expectations. PNAS. DOI:10.1073/pnas.2006991117/-/DCSupplemental.
Beglaryan, M., & Shakhmuradyan, G. (2020). The impact of COVID-19 on small and medium-scale enterprises in Armenia: Evidence from a labor force survey. Small Business International Review, 4(2), e298.
Beraha, I., & ?uri?in, S. (2020). The impact of COVID-19 crisis on medium-scale enterprises in Serbia. Economic Analysis, 53(1), 14-27.
Blundell, R., Dias, M. C., Joyce, R. & Xiaowei, Xu. (2020). Covid-19 and inequalities Fiscal Studies. DOI: 10.1111/1475-5890.12232.
Brown, R., & Cowling, M. (2021). The geographical impact of the Covid-19 crisis on precautionary savings, firm survival and jobs: Evidence from the United Kingdom's 100 largest towns and cities. International Small Business Journal, 0266242621989326.
Cepel, M., Gavurova, B., Dvorsky, J., & Belas, J. (2020). The impact of the COVID-19 crisis on the perception of business risk in the SME segment. Journal of International Studies, DOI:10.14254/2071-8330.2020/13-3/16
Cao, T. (2021). The Study of Factors on the Small and Medium Enterprises Adoption of Mobile Payment: Implications for the COVID-19 Era. Frontiers in Public Health. DOI: 10.3389/fpubh.2021.646592
Carracedo, P., Puertas, R. & Marti, L. (2020). Research lines on the impact of the COVID-19 Pandemic on business. A text mining analysis. Journal of Business Research. Elsevier Publication. URL: https://doi.org/10.1016/j.jbusres.2020.11.043
Cheng, Y., Yu, J., Shen, Y., & Huang, B. (2020). Coproducing responses to COVID?19 with community?based organizations: lessons from Zhejiang province, China. Public Administration Review, 80(5), 866-873.
Chowdhury, P. & Shumon, R. (2020). Minimizing the Gap between Expectation and Ability: Strategies for SMEs to Implement Social Sustainability Practices. Sustainability. MDPI Publication. URL: https://doi.org/10.3390/su12166408
Cirera, X. et al. (2021). Policies to Support Businesses through the COVID-19 Shock: A Firm-Level Perspective. The World Bank Research Observer. Oxford University Press. DOI: 10.1093/wbro/lkab001
Cowling, M., Brown R. & Rocha, A. (2020). Did you save some cash for a rainy COVID-19 day? The crisis and SMEs. International Small Business Journal: Researching Entrepreneurship. SAGE Publications. URL: https://doi.org/10.1177/0266242620945102
Dev, S. M. & Sengupta, R. (2020). Covid-19: Impact on the Indian Economy. Indira Gandhi Institute of Development Research.
Dhatrak, S.P. (2020). The Socio- Economic Impact of Covid-19 or Corona Pandemic in India. Shanlax International Journal of Arts, Science and Humanities. DOI: https://doi.org/10.34293/ sijash.v8i1.3231
Dlamini, B., & Schutte, D. P. (2020). An overview of the historical development of Small and Medium Enterprises in Zimbabwe. Small Enterprise Research, 27(3), 306-322.
Donahue, P. F. (2020). Partnering Small Enterprises and Local Nonprofits to Help Sustain Local Economies and Reduce the Spread of COVID?19. World Medical & Health Policy, 12(4), 374-379.
Dvorsky, J., Belas, J., Gavurova, B., & Brabenec, T. (2020). Business risk management in the context of small and medium-scale enterprises. Economic Research-Ekonomska Istraživanja, 1-19.
Fortuna, L. R., Tolou-Shams, M., Robles-Ramamurthy, B. & Porche, M. V. (2020). Inequity and the Disproportionate Impact of COVID-19 on Communities of Color in the United States: The Need for a Trauma-Informed Social Justice Response. American Psychological Association. URL: http://dx.doi.org/10.1037/tra0000889
Gaynor, T. S. & Wilson, M. E. (2020). Social Vulnerability and Equity: The Disproportionate Impact of COVID-19. The American Society for Public Administration. DOI: 10.1111/puar.13264.
Gopalan, H. S. & Misra, A. (2020). COVID-19 Pandemic and challenges for socioeconomic issues, healthcare and National Health Programs in India. Diabetes & Metabolic Syndrome: Clinical Research & Reviews. Elsevier Publication. URL: https://doi.org/10.1016/j.dsx.2020.05.041
Gounder, R. (2020). Economic Vulnerabilities and Livelihoods: Impact of COVID?19 in Fiji and Vanuatu. Oceania, 90, 107-113.
Gourinchas, P.O., Kalemli-Özcan, S., Penciakova, V. & Sander, N. (2020). COVID-19 and SME failures. NBER Working Paper Series. National Bureau of Economic Research. URL: http://www.nber.org/papers/w27877
Grondys, K., Slusarczyk, O., Hussain, H.I. & Androniceanu, A. (2021). Risk Assessment of the SME Sector Operations during the COVID-19 Pandemic. International Journal of Environmental Research and Public Health. MDPI Publication. URL: https://doi.org/10.3390/ ijerph18084183.
Haleem, A. & Mashroofa, M. M. (2020). Financial Impact of COVID-19 Pandemic on Small and Medium Enterprises: A Systematic Review. Journal of Business Economics.
Hossain, M. I. (2021). COVID-19 Impacts on Employment and Livelihood of Marginal People in Bangladesh: Lessons Learned and Way Forward. South Asian Survey, 28(1), 57-71.
ILO (2020). MSME Day 2020: the COVID -19 pandemic and its impact on small business. International Labor Organization. Retrieved from https://www.ilo.org/empent/whatsnew/WCMS_749275/lang--en/index.htm
Jaim, J. (2021). Exist or exit? Women business?owners in Bangladesh during COVID?19. Gender, Work & Organization, 28, 209-226.
Jain, S., Sharma, T. (2020). Social and Travel Lockdown Impact Considering Coronavirus Disease (COVID-19) on Air Quality in Megacities of India: Present Benefits, Future Challenges and Way Forward. Aerosol and Air Quality Research. Taiwan Association for Aerosol Research. URL: https://doi.org/10.4209/aaqr.2020.04.0171
Joy Chen, J., Cheng, Z., Gong, R. K & Li, J. (2020). Riding Out the COVID-19 Storm: How Government Policies Affect SMEs in China.
Juergensen, J., Guimón, J. & Narula, R. (2020). European SMEs amidst the COVID?19 crisis: assessing impact and policy responses. Journal of Industrial and Business Economics. Springer. URL: https://doi.org/10.1007/s40812-020-00169-4
Khan, R. U., Salamzadeh, Y., Shah, S. Z. A., & Hussain, M. (2021). Factors affecting women entrepreneurs' success: a study of small-and medium-scale enterprises in emerging market of Pakistan. Journal of Innovation and Entrepreneurship, 10(1), 1-21.
Khurana, S., Haleem, A., Luthra, S., Huisingh, D. & Mannan, B. (2020). Now is the time to press the reset button: Helping India's companies to become more resilient and effective in overcoming the impacts of COVID-19, climate changes and other crises. Journal of Cleaner Production. Elsevier Publication. URL: HTTPS:// doi.org/10.1016/j.jclepro.2020.124466.
Khurshid, A. & Khan, K.(2021). How COVID-19 shock will drive the economy and climate? A data-driven approach to model and forecast. Environmental Science and Pollution Research. Springer Publication. URL: https://doi.org/10.1007/s11356-020-09734-9
Kumar, S.M., Maheshwari, V., Prabhu, J., Prasanna, M., Jayalakshmi P., Suganya, P., Benjula, A. M., Jothikumar, R. (2020). Social economic impact of COVID-19 outbreak in India. International Journal of Pervasive Computing and Communications. Emerald Publication. DOI: 10.1108/IJPCC-06-2020-0053
Laurencin, C. T. & McClinton, A. (2020). The COVID-19 Pandemic: a Call to Action to Identify and Address Racial and Ethnic Disparities. Journal of Racial and Ethnic Health Disparities. Springer. URL: https://doi.org/10.1007/s40615-020-00756-0
Li, S., YilinWang, Xue, J., Zhao, N. & Zhu, T. (2020). The Impact of COVID-19 Epidemic Declaration on Psychological Consequences: A Study on Active Weibo Users. International Journal of Environment Research Public Health. DOI:10.3390/ijerph17062032
Liu, Y., Min Lee, J. & Lee, C. (2020). The challenges and opportunities of a global health crisis: the management and business implications of COVID 19 from an Asian perspective. Asian Business & Management. Springer Publication. URL: https://doi.org/10.1057/s41291-020-00119-x
Lu, Y., Wu, J., Peng, J., & Lu, L. (2020). The perceived impact of the Covid-19 epidemic: evidence from a sample of 4807 SMEs in Sichuan Province, China. Environmental Hazards, 19(4), 323-340.
Mahmud, A., Ding, D., & Md. Hasan, M. (2021). Corporate Social Responsibility: Business Responses to Coronavirus (COVID-19) Pandemic. SAGE Publication. URL: https://doi.org/10.1177/2158244020988710
Martin, A., Markhvida. M., Hallegatte, S. & Walsh, B. (2020). Socio-Economic Impacts of COVID-19 on Household Consumption and Poverty. Economics of Disasters and Climate Change. Springer. URL: https://doi.org/10.1007/s41885-020-00070-3
Naab, R., & Bans-Akutey, A. (2021). Assessing the use of e-business strategies by SMEs in Ghana during the Covid-19 Pandemic. Annals of Management and Organization Research, 2(3), 145–160. https://doi.org/10.35912/amor.v2i3.800
Nairobi, N., Ambya, A., Afif, F. Y., & Pratikno, D. D. (2022). Ownership rights and ASEAN-5 economic growth. Studies in Economy and Public Policy, URL: https://doi.org/10.35912/SEPP.v1i1.1067
Nicola,M., Alsa, Z.,Sohrabi, C.,Kerwan, A., Al-Jabir, A., Iosifidis, C., Agha, M., Agha, R. (2020). The socio-economic implications of the coronavirus pandemic (COVID-19): A review. International Journal of Surgery. Elsevier. URL: https://doi.org/10.1016/j.ijsu.2020.04.018
Nivetha, P. & Sudhamathi, S. (2021). Survival Strategies for Businesses during Covid-19 Lockdown. Shanlax International Journal of Management. DOI: https://doi.org/10.34293/ management.v8i3.3533
Nugraheni, N. N. A., Kellen, P. B., & Rozari, P. E. de. (2022). The effect of financial behavior, financial literacy, and macroeconomics on stock investment decision-making in East Nusa Tenggara. Annals of Management and Organization Research, 3(1), 1–20. https://doi.org/10.35912/amor.v3i1.1183
Ogunsanya, A. A (2020). Squaring small and medium businesses and branding post Covid?19 in Nigeria: Tripartite imperatives for performance. Journal of Public Affairs, e2586.
Osofsky, J. D., Osofsky, H. J. & Mamon, L. Y. (2020). Psychological and Social Impact of COVID-19. American Psychological Association. URL: http://dx.doi.org/10.1037/tra0000656
Sahoo, P., & Ashwani. (2020). COVID-19 and Indian economy: Impact on growth, manufacturing, trade and MSME sector. Global Business Review, 21(5), 1159-1183.
Saladino, V., Algeri, D. & Auriemma, V. (2020). The Psychological and Social Impact of Covid-19: New Perspectives of Well-Being. Frontiers in Psychology. DOI: 10.3389/fpsyg.2020.577684
Seetharaman, P. (2020). Business models shifts: Impact of Covid-19. International Journal of Information Management. Elsevier Publication. URL: https://doi.org/10.1016/j.ijinfomgt.2020.102173
Sepúlveda, L. W., Rodríguez, S. I., Rodríguez, P. P., Ganz, F., Torralba, R., Oliveira D.V., Rodríguez, M. L. (2020). Impact of social isolation due to COVID-19 on health in older people: mental and physical effects and recommendations. The Journal of Nutrition, Health & Aging. Springer. DOI : 10.1007/s12603-020-1469-2
Shafi, M. Liu, J. & Ren, W. (2020). Impact of COVID-19 Pandemic on micro, small, and medium-scale Enterprises operating in Pakistan. Research in Globalization. Elsevier Publication. URL: https://doi.org/10.1016/j.resglo.2020.100018
Sharma, S., & Paul, A. (2020). COVID-19 India: An insight into the impact of lockdown and community behavioural response. International Social Work, 63(6), 717-729.
Shen, H., Fu, M., Pan, H., Yu, Z., & Chen, Y. (2020). The impact of the COVID-19 Pandemic on firm performance. Emerging Markets Finance and Trade, 56(10), 2213-2230.
Singh, A. (2020). What About India's MSME Sector: COVID-19 Pandemic and Indian MSME Sector Outlook. Available at SSRN 3696778.
Singu, S., Acharya, A., Challagundla, K., Byrareddy, S. N. (2020). Impact of Social Determinants of Health on the Emerging COVID-19 Pandemic in the United States. Frontiers in Public Health Journal. DOI: 10.3389/fpubh.2020.00406
Sumner, A., Hoy, C. & Ortiz-Juarez, E. (2020). Estimates of the impact of COVID-19 on global poverty. WIDER Working Paper. The United Nations University World Institute for Development Economics. URL: https://doi.org/10.35188/UNU-WIDER/2020/800-9
Syriopoulos, K. & University, Z. (2020). The Impact of COVID-19 on Entrepreneurship and SMEs. Journal of the International Academy for Case Studies.
Tai, D. B. G., Shah, A., Doubeni, C. A., Sia, I. G. & Wieland, M. L. (2020). The Disproportionate Impact of COVID-19 on Racial and Ethnic Minorities in the United States. Infectious Diseases Society of America. Oxford University Press. DOI: 10.1093/cid/ciaa815
Thukral, E. (2021). COVID-19: Small and medium enterprises challenges and responses with creativity, innovation, and entrepreneurship. Strategic Change. Wiley Publication. DOI: 10.1002/jsc.2399
Vieira, C. M., Franco, O. H., Restrepo, C. G. & Abel, T. (2020). COVID-19: The forgotten priorities of the Pandemic. Maturitas. Elsevier. URL: https://doi.org/10.1016/j.maturitas.2020.04.004
Vig, S. & Agarwal, R. N. (2021). Repercussions of COVID-19 on small restaurant entrepreneurs: The Indian context. Journal of Strategic Change. Wiley Publication. DOI: 10.1002/jsc.2398
Walter, D. (2020). Implications of Covid 19 for Labour and Employment in India. The Indian Journal of Labour Economics. Springer Publication. URL: https://doi.org/10.1007/s41027-020-00255-0
Weaver, R. L. (2020). The Impact of COVID-19 on the Social Enterprise Sector. Journal of Social Entrepreneurship, 1-9.
Whittaker, C. et al. (2020). The Global Impact of COVID-19 and Strategies for Mitigation and Suppression. Imperial College COVID-19 Response Team. DOI: https://doi.org/10.25561/77735
Yun Qiu, Y., Chen, X. & Shi, W. (2020). Impacts of Social and Economic Factors on the Transmission of Coronavirus Disease 2019 (COVID-19) in China. Institute for Economic and Social Research of Jinan University. URL: https://doi.org/10.1101/2020.03.13.20035238
- Abedi, V., Olulana, O., Avula, Venkatesh.,Chaudhary, D., Khan, A., Shahjouei, S., Li, J. & Zand, R. (2020). Racial, Economic, and Health Inequality and COVID-19 Infection in the United States. Journal of Racial and Ethnic Health Disparities. Springer. URL: https://doi.org/10.1007/s40615-020-00833-4
- Abiad, A., Arao, M., Dagli, S., Ferrarini, B., Noy,I., Osewe, P., Pagaduan, J., Park, D. & Platitas (2020). The Economic Impact of the COVID-19 outbreak on Developing Asia. Asian Development Bank. JAMA. DOI: http://dx.doi.org/10.22617/BRF200096
- Akpan, I. J., Paul, E. A. & Adebisi, B. (2020). The Indian Journal of Labour Economics. Journal of Small Business & Entrepreneurship. Taylor and Francis Publication. DOI: 10.1080/08276331.2020.1820185
- Alves, J. C., Lok, T. C., Luo, Y., & Hao, W. (2020). Crisis challenges of small firms in Macao during the COVID-19 Pandemic. Frontiers of Business Research in China, 14(1), 1-23.
- Ali, I., Alharbi, O. M..L. (2020). COVID-19: Disease, management, treatment, and social impact. Science of the Total Environment. Elsevier. URL: https://doi.org/10.1016/j.scitotenv.2020.138861
- Amankwah-Amoah, J., Khan, Z. & Wood, G. (2020). COVID-19 and business failures: The paradoxes of experience, scale, and scope for theory and practice. European Management Journal. Elsevier Publication. URL: https://doi.org/10.1016/j.emj.2020.09.002
- Aneja, R. & Ahuja, V. (2020). An assessment of socioeconomic impact of COVID-19 Pandemic in India. Journal of Public Affairs. Wiley Publication. DOI: 10.1002/pa.2266
- Anoke, F., Ngozi, N. . H., Uchechukwu, E. S., & Joyce, I. (2022). Entrepreneurial Marketing And SMEs Growth In Post Covid-19 Era In Awka, Anambra State, Nigeria. International Journal of Financial, Accounting, and Management, 4(2), 115–127. https://doi.org/10.35912/ijfam.v4i2.833
- Apostolopoulos, N., Ratten, V., Petropoulos, D., Liargovas, P., & Anastasopoulou, E. (2021). Agri?food sector and entrepreneurship during the COVID?19 crisis: A systematic literature review and research agenda. Strategic Change, 30(2), 159-167.
- Ashraf, B.N. (2020). Economic impact of government interventions during the COVID-19 Pandemic: International evidence from financial markets. Journal of Behavioral and Experimental Finance. Elsevier. DOI: https://doi.org/10.1016/j.jbef.2020.100371.
- Bai, C., Quayson, M. & Sarkis, J. (2021).COVID-19 Pandemic Digitization Lessons for Sustainable Development of Micro-and Small- Enterprises. Sustainable Production and Consumption. Elsevier Publication. DOI: https://doi.org/10.1016/j.spc.2021.04.035
- Banerjee, D.& Rai, M. (2020). Social isolation in Covid-19: The impact of loneliness. International Journal of Social Psychiatry. Sage Publications. DOI: 10.1177/0020764020922269
- Bakhtiari, S., Breunig, R., Magnani, L., & Zhang, J. (2020). Financial constraints and small and medium enterprises: A review. Economic Record.
- Bartik, A. W., Bertrand, M., Cullen, Z., Glaeser, E. L., Luca, M. & Stanton, C. (2020). The impact of COVID-19 on small business outcomes and expectations. PNAS. DOI:10.1073/pnas.2006991117/-/DCSupplemental.
- Beglaryan, M., & Shakhmuradyan, G. (2020). The impact of COVID-19 on small and medium-scale enterprises in Armenia: Evidence from a labor force survey. Small Business International Review, 4(2), e298.
- Beraha, I., & ?uri?in, S. (2020). The impact of COVID-19 crisis on medium-scale enterprises in Serbia. Economic Analysis, 53(1), 14-27.
- Blundell, R., Dias, M. C., Joyce, R. & Xiaowei, Xu. (2020). Covid-19 and inequalities Fiscal Studies. DOI: 10.1111/1475-5890.12232.
- Brown, R., & Cowling, M. (2021). The geographical impact of the Covid-19 crisis on precautionary savings, firm survival and jobs: Evidence from the United Kingdom's 100 largest towns and cities. International Small Business Journal, 0266242621989326.
- Cepel, M., Gavurova, B., Dvorsky, J., & Belas, J. (2020). The impact of the COVID-19 crisis on the perception of business risk in the SME segment. Journal of International Studies, DOI:10.14254/2071-8330.2020/13-3/16
- Cao, T. (2021). The Study of Factors on the Small and Medium Enterprises Adoption of Mobile Payment: Implications for the COVID-19 Era. Frontiers in Public Health. DOI: 10.3389/fpubh.2021.646592
- Carracedo, P., Puertas, R. & Marti, L. (2020). Research lines on the impact of the COVID-19 Pandemic on business. A text mining analysis. Journal of Business Research. Elsevier Publication. URL: https://doi.org/10.1016/j.jbusres.2020.11.043
- Cheng, Y., Yu, J., Shen, Y., & Huang, B. (2020). Coproducing responses to COVID?19 with community?based organizations: lessons from Zhejiang province, China. Public Administration Review, 80(5), 866-873.
- Chowdhury, P. & Shumon, R. (2020). Minimizing the Gap between Expectation and Ability: Strategies for SMEs to Implement Social Sustainability Practices. Sustainability. MDPI Publication. URL: https://doi.org/10.3390/su12166408
- Cirera, X. et al. (2021). Policies to Support Businesses through the COVID-19 Shock: A Firm-Level Perspective. The World Bank Research Observer. Oxford University Press. DOI: 10.1093/wbro/lkab001
- Cowling, M., Brown R. & Rocha, A. (2020). Did you save some cash for a rainy COVID-19 day? The crisis and SMEs. International Small Business Journal: Researching Entrepreneurship. SAGE Publications. URL: https://doi.org/10.1177/0266242620945102
- Dev, S. M. & Sengupta, R. (2020). Covid-19: Impact on the Indian Economy. Indira Gandhi Institute of Development Research.
- Dhatrak, S.P. (2020). The Socio- Economic Impact of Covid-19 or Corona Pandemic in India. Shanlax International Journal of Arts, Science and Humanities. DOI: https://doi.org/10.34293/ sijash.v8i1.3231
- Dlamini, B., & Schutte, D. P. (2020). An overview of the historical development of Small and Medium Enterprises in Zimbabwe. Small Enterprise Research, 27(3), 306-322.
- Donahue, P. F. (2020). Partnering Small Enterprises and Local Nonprofits to Help Sustain Local Economies and Reduce the Spread of COVID?19. World Medical & Health Policy, 12(4), 374-379.
- Dvorsky, J., Belas, J., Gavurova, B., & Brabenec, T. (2020). Business risk management in the context of small and medium-scale enterprises. Economic Research-Ekonomska Istraživanja, 1-19.
- Fortuna, L. R., Tolou-Shams, M., Robles-Ramamurthy, B. & Porche, M. V. (2020). Inequity and the Disproportionate Impact of COVID-19 on Communities of Color in the United States: The Need for a Trauma-Informed Social Justice Response. American Psychological Association. URL: http://dx.doi.org/10.1037/tra0000889
- Gaynor, T. S. & Wilson, M. E. (2020). Social Vulnerability and Equity: The Disproportionate Impact of COVID-19. The American Society for Public Administration. DOI: 10.1111/puar.13264.
- Gopalan, H. S. & Misra, A. (2020). COVID-19 Pandemic and challenges for socioeconomic issues, healthcare and National Health Programs in India. Diabetes & Metabolic Syndrome: Clinical Research & Reviews. Elsevier Publication. URL: https://doi.org/10.1016/j.dsx.2020.05.041
- Gounder, R. (2020). Economic Vulnerabilities and Livelihoods: Impact of COVID?19 in Fiji and Vanuatu. Oceania, 90, 107-113.
- Gourinchas, P.O., Kalemli-Özcan, S., Penciakova, V. & Sander, N. (2020). COVID-19 and SME failures. NBER Working Paper Series. National Bureau of Economic Research. URL: http://www.nber.org/papers/w27877
- Grondys, K., Slusarczyk, O., Hussain, H.I. & Androniceanu, A. (2021). Risk Assessment of the SME Sector Operations during the COVID-19 Pandemic. International Journal of Environmental Research and Public Health. MDPI Publication. URL: https://doi.org/10.3390/ ijerph18084183.
- Haleem, A. & Mashroofa, M. M. (2020). Financial Impact of COVID-19 Pandemic on Small and Medium Enterprises: A Systematic Review. Journal of Business Economics.
- Hossain, M. I. (2021). COVID-19 Impacts on Employment and Livelihood of Marginal People in Bangladesh: Lessons Learned and Way Forward. South Asian Survey, 28(1), 57-71.
- ILO (2020). MSME Day 2020: the COVID -19 pandemic and its impact on small business. International Labor Organization. Retrieved from https://www.ilo.org/empent/whatsnew/WCMS_749275/lang--en/index.htm
- Jaim, J. (2021). Exist or exit? Women business?owners in Bangladesh during COVID?19. Gender, Work & Organization, 28, 209-226.
- Jain, S., Sharma, T. (2020). Social and Travel Lockdown Impact Considering Coronavirus Disease (COVID-19) on Air Quality in Megacities of India: Present Benefits, Future Challenges and Way Forward. Aerosol and Air Quality Research. Taiwan Association for Aerosol Research. URL: https://doi.org/10.4209/aaqr.2020.04.0171
- Joy Chen, J., Cheng, Z., Gong, R. K & Li, J. (2020). Riding Out the COVID-19 Storm: How Government Policies Affect SMEs in China.
- Juergensen, J., Guimón, J. & Narula, R. (2020). European SMEs amidst the COVID?19 crisis: assessing impact and policy responses. Journal of Industrial and Business Economics. Springer. URL: https://doi.org/10.1007/s40812-020-00169-4
- Khan, R. U., Salamzadeh, Y., Shah, S. Z. A., & Hussain, M. (2021). Factors affecting women entrepreneurs' success: a study of small-and medium-scale enterprises in emerging market of Pakistan. Journal of Innovation and Entrepreneurship, 10(1), 1-21.
- Khurana, S., Haleem, A., Luthra, S., Huisingh, D. & Mannan, B. (2020). Now is the time to press the reset button: Helping India's companies to become more resilient and effective in overcoming the impacts of COVID-19, climate changes and other crises. Journal of Cleaner Production. Elsevier Publication. URL: HTTPS:// doi.org/10.1016/j.jclepro.2020.124466.
- Khurshid, A. & Khan, K.(2021). How COVID-19 shock will drive the economy and climate? A data-driven approach to model and forecast. Environmental Science and Pollution Research. Springer Publication. URL: https://doi.org/10.1007/s11356-020-09734-9
- Kumar, S.M., Maheshwari, V., Prabhu, J., Prasanna, M., Jayalakshmi P., Suganya, P., Benjula, A. M., Jothikumar, R. (2020). Social economic impact of COVID-19 outbreak in India. International Journal of Pervasive Computing and Communications. Emerald Publication. DOI: 10.1108/IJPCC-06-2020-0053
- Laurencin, C. T. & McClinton, A. (2020). The COVID-19 Pandemic: a Call to Action to Identify and Address Racial and Ethnic Disparities. Journal of Racial and Ethnic Health Disparities. Springer. URL: https://doi.org/10.1007/s40615-020-00756-0
- Li, S., YilinWang, Xue, J., Zhao, N. & Zhu, T. (2020). The Impact of COVID-19 Epidemic Declaration on Psychological Consequences: A Study on Active Weibo Users. International Journal of Environment Research Public Health. DOI:10.3390/ijerph17062032
- Liu, Y., Min Lee, J. & Lee, C. (2020). The challenges and opportunities of a global health crisis: the management and business implications of COVID 19 from an Asian perspective. Asian Business & Management. Springer Publication. URL: https://doi.org/10.1057/s41291-020-00119-x
- Lu, Y., Wu, J., Peng, J., & Lu, L. (2020). The perceived impact of the Covid-19 epidemic: evidence from a sample of 4807 SMEs in Sichuan Province, China. Environmental Hazards, 19(4), 323-340.
- Mahmud, A., Ding, D., & Md. Hasan, M. (2021). Corporate Social Responsibility: Business Responses to Coronavirus (COVID-19) Pandemic. SAGE Publication. URL: https://doi.org/10.1177/2158244020988710
- Martin, A., Markhvida. M., Hallegatte, S. & Walsh, B. (2020). Socio-Economic Impacts of COVID-19 on Household Consumption and Poverty. Economics of Disasters and Climate Change. Springer. URL: https://doi.org/10.1007/s41885-020-00070-3
- Naab, R., & Bans-Akutey, A. (2021). Assessing the use of e-business strategies by SMEs in Ghana during the Covid-19 Pandemic. Annals of Management and Organization Research, 2(3), 145–160. https://doi.org/10.35912/amor.v2i3.800
- Nairobi, N., Ambya, A., Afif, F. Y., & Pratikno, D. D. (2022). Ownership rights and ASEAN-5 economic growth. Studies in Economy and Public Policy, URL: https://doi.org/10.35912/SEPP.v1i1.1067
- Nicola,M., Alsa, Z.,Sohrabi, C.,Kerwan, A., Al-Jabir, A., Iosifidis, C., Agha, M., Agha, R. (2020). The socio-economic implications of the coronavirus pandemic (COVID-19): A review. International Journal of Surgery. Elsevier. URL: https://doi.org/10.1016/j.ijsu.2020.04.018
- Nivetha, P. & Sudhamathi, S. (2021). Survival Strategies for Businesses during Covid-19 Lockdown. Shanlax International Journal of Management. DOI: https://doi.org/10.34293/ management.v8i3.3533
- Nugraheni, N. N. A., Kellen, P. B., & Rozari, P. E. de. (2022). The effect of financial behavior, financial literacy, and macroeconomics on stock investment decision-making in East Nusa Tenggara. Annals of Management and Organization Research, 3(1), 1–20. https://doi.org/10.35912/amor.v3i1.1183
- Ogunsanya, A. A (2020). Squaring small and medium businesses and branding post Covid?19 in Nigeria: Tripartite imperatives for performance. Journal of Public Affairs, e2586.
- Osofsky, J. D., Osofsky, H. J. & Mamon, L. Y. (2020). Psychological and Social Impact of COVID-19. American Psychological Association. URL: http://dx.doi.org/10.1037/tra0000656
- Sahoo, P., & Ashwani. (2020). COVID-19 and Indian economy: Impact on growth, manufacturing, trade and MSME sector. Global Business Review, 21(5), 1159-1183.
- Saladino, V., Algeri, D. & Auriemma, V. (2020). The Psychological and Social Impact of Covid-19: New Perspectives of Well-Being. Frontiers in Psychology. DOI: 10.3389/fpsyg.2020.577684
- Seetharaman, P. (2020). Business models shifts: Impact of Covid-19. International Journal of Information Management. Elsevier Publication. URL: https://doi.org/10.1016/j.ijinfomgt.2020.102173
- Sepúlveda, L. W., Rodríguez, S. I., Rodríguez, P. P., Ganz, F., Torralba, R., Oliveira D.V., Rodríguez, M. L. (2020). Impact of social isolation due to COVID-19 on health in older people: mental and physical effects and recommendations. The Journal of Nutrition, Health & Aging. Springer. DOI : 10.1007/s12603-020-1469-2
- Shafi, M. Liu, J. & Ren, W. (2020). Impact of COVID-19 Pandemic on micro, small, and medium-scale Enterprises operating in Pakistan. Research in Globalization. Elsevier Publication. URL: https://doi.org/10.1016/j.resglo.2020.100018
- Sharma, S., & Paul, A. (2020). COVID-19 India: An insight into the impact of lockdown and community behavioural response. International Social Work, 63(6), 717-729.
- Shen, H., Fu, M., Pan, H., Yu, Z., & Chen, Y. (2020). The impact of the COVID-19 Pandemic on firm performance. Emerging Markets Finance and Trade, 56(10), 2213-2230.
- Singh, A. (2020). What About India's MSME Sector: COVID-19 Pandemic and Indian MSME Sector Outlook. Available at SSRN 3696778.
- Singu, S., Acharya, A., Challagundla, K., Byrareddy, S. N. (2020). Impact of Social Determinants of Health on the Emerging COVID-19 Pandemic in the United States. Frontiers in Public Health Journal. DOI: 10.3389/fpubh.2020.00406
- Sumner, A., Hoy, C. & Ortiz-Juarez, E. (2020). Estimates of the impact of COVID-19 on global poverty. WIDER Working Paper. The United Nations University World Institute for Development Economics. URL: https://doi.org/10.35188/UNU-WIDER/2020/800-9
- Syriopoulos, K. & University, Z. (2020). The Impact of COVID-19 on Entrepreneurship and SMEs. Journal of the International Academy for Case Studies.
- Tai, D. B. G., Shah, A., Doubeni, C. A., Sia, I. G. & Wieland, M. L. (2020). The Disproportionate Impact of COVID-19 on Racial and Ethnic Minorities in the United States. Infectious Diseases Society of America. Oxford University Press. DOI: 10.1093/cid/ciaa815
- Thukral, E. (2021). COVID-19: Small and medium enterprises challenges and responses with creativity, innovation, and entrepreneurship. Strategic Change. Wiley Publication. DOI: 10.1002/jsc.2399
- Vieira, C. M., Franco, O. H., Restrepo, C. G. & Abel, T. (2020). COVID-19: The forgotten priorities of the Pandemic. Maturitas. Elsevier. URL: https://doi.org/10.1016/j.maturitas.2020.04.004
- Vig, S. & Agarwal, R. N. (2021). Repercussions of COVID-19 on small restaurant entrepreneurs: The Indian context. Journal of Strategic Change. Wiley Publication. DOI: 10.1002/jsc.2398
- Walter, D. (2020). Implications of Covid 19 for Labour and Employment in India. The Indian Journal of Labour Economics. Springer Publication. URL: https://doi.org/10.1007/s41027-020-00255-0
- Weaver, R. L. (2020). The Impact of COVID-19 on the Social Enterprise Sector. Journal of Social Entrepreneurship, 1-9.
- Whittaker, C. et al. (2020). The Global Impact of COVID-19 and Strategies for Mitigation and Suppression. Imperial College COVID-19 Response Team. DOI: https://doi.org/10.25561/77735
- Yun Qiu, Y., Chen, X. & Shi, W. (2020). Impacts of Social and Economic Factors on the Transmission of Coronavirus Disease 2019 (COVID-19) in China. Institute for Economic and Social Research of Jinan University. URL: https://doi.org/10.1101/2020.03.13.20035238