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Understanding the Impact of the Covid-19 Outbreak on Small and Medium-Sized Enterprises (SMEs) Through Literature Review: A Conceptual Analysis

Year 2021, , 466 - 489, 31.10.2021
https://doi.org/10.33688/aucbd.956001

Abstract

The Covid-19 outbreak has adversely affected the whole world, not only in the field of health, but also socially and economically. The crisis continues to affect social norms deeply by causing significant changes in the social structure. Changes in consumer movements in particular have had negative consequences for Small and Medium Enterprises. In this context, the aim of this article is to make generalizations by reading the impact of the Covid-19 crisis on SMEs through empirical research. In this context, a conceptual map was created by subjecting 20 empirical research articles to content analysis. This study is important for governments and business owners to see generalizable first results and to develop policies and strategies. The financial difficulties of SMEs, the closure of some of them and the high rate of workforce losses are among the important conceptualizations. In addition, innovation efforts to get rid of the negative situation created by the crisis are also a positive development for SMEs.

References

  • Aderemi, T. A., Ojo, L. B., Ifeanyi, O. J., Efunbajo, S. A. (2020). Impact of corona virus (COVID-19) pandemic on small and medium scale enterprises (SMEs) in Nigeria: a critical case study. Oeconomica, 16 (4), 251-261. https://www.ceeol.com/search/article-detail?id=936210 adresinden edinilmiştir.
  • Al-Fadly, A. (2020). Impact of covid-19 on SMEs and employment. Entrepreneurship and Sustaınability Issues, 8 (2), 629-648. doi: 10.9770/jesi.2020.8.2(38)
  • 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. Proceedings of the National Academy of Sciences, 117 (30), 17656-17666. doi:10.1073/pnas.2006991117
  • Beraha, I., Đuričin, S. (2020). The impact of COVID-19 crisis on medium-sized enterprises in Serbia. Economic Analysis, (53), 14-27. doi: 10.28934/ea.20.53.1.pp14-27
  • Biggs, D., Hall, C. M., Stoeckl, N. (2012). The resilience of formal and informal tourism enterprises to disasters: reef tourism in Phuket, Thailand. Journal of Sustainable Tourism, 20 (5), 645-665. doi:10.1080/09669582.2011.630080
  • Cao, S., Leung, D. (2020). Credit constraints and productivity of SMEs: evidence from Canada. Economic Modelling, 88, 163-180. doi: 10.1016/j.econmod.2019.09.018
  • 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,, 13 (3), 248-263. doi:10.14254/2071-8330.2020/13-3/16
  • Cowling, M., Liu, W., Ledger, A., Zhang, N. (2015). What really happens to small and medium-sized enterprises in a global economic recession? UK evidence on sales and job dynamics. International Small Business Journal, 33 (5), 488-513. doi:10.1177/0266242613512513
  • Dai, R., Feng, H., Hu, J., Jin, Q., Li, H., Wang, R., . . . Zhang, X. (2021). The impact of COVID-19 on small and medium-sized enterprises (SMEs): Evidence from two-wave phone surveys in China. China Economic Review, 67, 101607. doi: 10.1016/j.chieco.2021.101607
  • Donthu, N., Gustafsson, A. (2020). Effects of COVID-19 on business and research. Journal of Business Research, 117, 284-289. doi: 10.1016/j.jbusres.2020.06.008
  • Eğri, T., Doğaner, A. (2020). Covıd-19 ve ekonomik kriz: kobiler özelinde bir değerlendirme ve politika önerileri. İstanbul Ticaret Üniversitesi Sosyal Bilimler Dergisi, Bahar (Covid19-Özel Ek), 128-145. https://dergipark.org.tr/en/pub/iticusbe/issue/55168/754384 adresinden edinilmiştir.
  • Fairlie, R. W. (2020). The impact of covid-19 on small business owners: evidence of early-stage losses from the april 2020 current population survey. Working Paper Series. Working Paper. National Bureau of Economic Research. http://www.nber.org/papers/w27309 adresinden edinilmiştir.
  • Humphries, J., Neilson, C., Ulyssea, G. (2020). The evolving impacts of COVID-19 on small businesses since the CARES act. https://EconPapers.repec.org/RePEc:cwl:cwldpp:2230 adresinden edinilmiştir.
  • Jasra J. M., Khan M. A., Hunjra A. I., Rehman R. A. U., Azam R.- I. (2011) Determinants of business success of small and medium enterprises, International Journal of Business and Social Science, 2 (20), 274 – 281. https://ijbssnet.com/journal/index/782:vol-2-no-20-november-2011abstract30&catid=19:hidden adresinden edinilmiştir.
  • 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, 47 (3), 499-510. doi:10.1007/s40812-020-00169-4
  • KOSGEB. (2005). Küçük ve Orta Büyüklükteki İşletmelerin Tanımı, Nitelikleri ve Sınıflandırılması Hakkında Yönetmelik. (25997). Ankara: Resmi Gazete
  • Kraus, S., Clauss, T., Breier, M., Gast, J., Zardini, A., Tiberius, V. (2020). The economics of COVID-19: initial empirical evidence on how family firms in five European countries cope with the corona crisis. International Journal of Entrepreneurial Behavior & Research, 26 (5), 1067-1092. doi:10.1108/IJEBR-04-2020-0214
  • Lazzeroni, M. (2020). Industrial decline and resilience in small towns: evidence from three European case studies. Tijdschrift voor Economische en Sociale Geografie, 111 (2), 182-195. doi: 10.1111/tesg.12368
  • Le, H. B. H., Nguyen, T. L., Ngo, C. T., Pham, T. B. T., Le, T. B. (2020). Policy related factors affecting the survival and development of SMEs in the context of Covid 19 pandemic. Management Science Letters, 10 (15), 3683-3692. doi:10.5267/j.msl.2020.6.025
  • Lee, N., Sameen, H., Cowling, M. (2015). Access to finance for innovative SMEs since the financial crisis. Research Policy, 44 (2), 370-380. doi: 10.1016/j.respol.2014.09.008
  • 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. doi:10.1080/17477891.2020.1763902
  • Mahajan, Y. (2020). Study of impact of coronavirus pandemic on small and medium enterprises (SME’s) in India. GIS SCIENCE JOURNAL, 7 (9), 1-6. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3739311 adresinden edinilmiştir.
  • Martin, R., Sunley, P., Gardiner, B., Tyler, P. (2016). How regions react to recessions: resilience and the role of economic structure. Regional Studies, 50 (4), 561-585. doi:10.1080/00343404.2015.1136410
  • Nyanga, T., Zirima, H. (2020). Reactions of small to medium enterprises in Masvingo, Zimbabwe to covid 19: implications on productivity. Business Excellence and Management, 10 (5), 22-32. https://ideas.repec.org/a/rom/bemann/v10y2020i5p22-32.html adresinden edinilmiştir.
  • OECD. (2005). OECD SME and Entrepreneurship Outlook: 2005. Paris
  • OECD. (2020). Coronavirus (COVID-19): SME policy responses. doi: 10.1787/04440101-en
  • Oral, İ. O., Sevinç, D. E. (2020). Covıd-19 eksenli sağlık krizinin ekonomi üzerindeki etkileri üzerine bir inceleme. Journal of Management Theory and Practices Research, 1 (1), 58-70. https://journals.academicianstudies.com/jmtpr/article/view/5 adresinden edinilmiştir.
  • Ozcan, S. K., Gourinchas, P.-O., Penciakova, V., Sander, N. (2020). COVID-19 and SME failures. Working paper. IMF. https://www.imf.org/en/Publications/WP/Issues/2020/09/25/COVID-19-and-SME-Failures-49753 adresinden edinilmiştir.
  • Qamruzzaman, M. (2020). COVID-19 Impact on SMEs in Bangladesh: An Investigation of What They Are Experiencing and How They Are Managing?
  • Rathore, U., Khanna, S. (2020). From slowdown to lockdown: effects of the COVID-19 crisis on small firms in India. SSRN. doi: 10.2139/ssrn.3615339
  • Robinson, J., Kengatharan, N. (2020). Exploring the effect of Covid-19 on Small and medium enterprises: early evidence from Sri Lanka. Journal of Applied Economics and Business Research, 10 (2), 115-125. https://pesquisa.bvsalud.org/global-literature-on-novel-coronavirus-2019-ncov/resource/en/covidwho-665263 adresinden edinilmiştir.
  • Segal, S., Gerstel, D. (2020). The global economic impacts of COVID-19, critical questions, Center for Strategic and International Studies (CSIS). https://www.csis.org/analysis. adresinden edinilmiştir.
  • Scupola, A., Fuglsang, L., Gallouj, F., Vorre Hansen, A. (2021). Understandings of social innovation within the Danish public sector: a literature review. Administrative Sciences, 11 (2), 49. https://www.mdpi.com/2076-3387/11/2/49 adresinden edinilmiştir.
  • Shafi, M., Liu, J., Ren, W. (2020). Impact of COVID-19 pandemic on micro, small, and medium-sized Enterprises operating in Pakistan. Research in Globalization, 2, 100018. doi: 10.1016/j.resglo.2020.100018
  • Sneader, K., Singhal, S. (2020). Beyond coronavirus: the path to the next normal, Article McKinsey ve Company. https://www.mckinsey.com/industries/healthcare-systems-and-services/our-insights/beyond-coronavirus-the-path-to-the-next-normal adresinden edinilmiştir.
  • Warsame, A. A. (2020). The impacts of COVID 19 on small and medium enterprises. European Journal of Business and Management, 12 (25), 96-105. doi: 10.7176/EJBM/12-25-11
  • Webster, J., Watson, R. T. (2002). Analyzing the past to prepare for the future: Writing a literature review. MIS Quarterly 26: xiii–xxiii.
  • Zeidy IA. Economic impact of covid-19 on micro, small and medium enterprises (msmes) in africa and policy options for mitigation. Common Mark. East. South. Africa. Nairobi; 2020. https://www.tralac.org/documents/resources/covid-19/regional/4049-economic-impact-of-covid-19-on-msmes-in-africa-and-policy-options-for-mitigation-comesa-special-report-august-2020/file.html adresinden edinilmiştir.

Literatür Taraması Üzerinden Covid-19 Salgınının Küçük ve Orta Büyüklükteki İşletmelere (KOBİ) Etkisini Anlamak: Kavramsal Bir Analiz

Year 2021, , 466 - 489, 31.10.2021
https://doi.org/10.33688/aucbd.956001

Abstract

Covid-19 salgını sadece sağlık alanında değil aynı zamanda sosyal ve ekonomik olarak da tüm dünyayı olumsuz olarak etkilemiştir. Kriz, sosyal yapıda önemli değişimlere yol açarak toplumsal normları derinden etkilemeye devam etmektedir. Özellikle tüketici hareketlerindeki değişikliklerin Küçük ve Orta Büyüklükteki İşletmeler üzerinde olumsuz sonuçları olmuştur. Bu bağlamda bu makalenin amacı Covid-19 krizinin KOBİ’ler üzerindeki etkisini ampirik çalışmalar üzerinden okuyarak genellemeler yapmaktır. Bu kapsamda 20 ampirik araştırma makalesi içerik analizine tabi tutularak kavramsal bir harita oluşturulmuştur. Bu çalışma hükümetlerin ve işletme sahiplerinin genellenebilir ilk sonuçları görmesi, politika ve strateji geliştirmeleri adına önemlidir. KOBİ’lerin mali açıdan sıkıntı yaşamaları, bazılarının kapanması ve işgücü kayıplarının yüksek oranda olması önemli kavramsallaştırmalardandır. Bunun yanında krizin yarattığı olumsuz durumdan kurtulmak için yenilikçilik çabaları da KOBİ’ler için olumlu bir gelişmedir.

References

  • Aderemi, T. A., Ojo, L. B., Ifeanyi, O. J., Efunbajo, S. A. (2020). Impact of corona virus (COVID-19) pandemic on small and medium scale enterprises (SMEs) in Nigeria: a critical case study. Oeconomica, 16 (4), 251-261. https://www.ceeol.com/search/article-detail?id=936210 adresinden edinilmiştir.
  • Al-Fadly, A. (2020). Impact of covid-19 on SMEs and employment. Entrepreneurship and Sustaınability Issues, 8 (2), 629-648. doi: 10.9770/jesi.2020.8.2(38)
  • 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. Proceedings of the National Academy of Sciences, 117 (30), 17656-17666. doi:10.1073/pnas.2006991117
  • Beraha, I., Đuričin, S. (2020). The impact of COVID-19 crisis on medium-sized enterprises in Serbia. Economic Analysis, (53), 14-27. doi: 10.28934/ea.20.53.1.pp14-27
  • Biggs, D., Hall, C. M., Stoeckl, N. (2012). The resilience of formal and informal tourism enterprises to disasters: reef tourism in Phuket, Thailand. Journal of Sustainable Tourism, 20 (5), 645-665. doi:10.1080/09669582.2011.630080
  • Cao, S., Leung, D. (2020). Credit constraints and productivity of SMEs: evidence from Canada. Economic Modelling, 88, 163-180. doi: 10.1016/j.econmod.2019.09.018
  • 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,, 13 (3), 248-263. doi:10.14254/2071-8330.2020/13-3/16
  • Cowling, M., Liu, W., Ledger, A., Zhang, N. (2015). What really happens to small and medium-sized enterprises in a global economic recession? UK evidence on sales and job dynamics. International Small Business Journal, 33 (5), 488-513. doi:10.1177/0266242613512513
  • Dai, R., Feng, H., Hu, J., Jin, Q., Li, H., Wang, R., . . . Zhang, X. (2021). The impact of COVID-19 on small and medium-sized enterprises (SMEs): Evidence from two-wave phone surveys in China. China Economic Review, 67, 101607. doi: 10.1016/j.chieco.2021.101607
  • Donthu, N., Gustafsson, A. (2020). Effects of COVID-19 on business and research. Journal of Business Research, 117, 284-289. doi: 10.1016/j.jbusres.2020.06.008
  • Eğri, T., Doğaner, A. (2020). Covıd-19 ve ekonomik kriz: kobiler özelinde bir değerlendirme ve politika önerileri. İstanbul Ticaret Üniversitesi Sosyal Bilimler Dergisi, Bahar (Covid19-Özel Ek), 128-145. https://dergipark.org.tr/en/pub/iticusbe/issue/55168/754384 adresinden edinilmiştir.
  • Fairlie, R. W. (2020). The impact of covid-19 on small business owners: evidence of early-stage losses from the april 2020 current population survey. Working Paper Series. Working Paper. National Bureau of Economic Research. http://www.nber.org/papers/w27309 adresinden edinilmiştir.
  • Humphries, J., Neilson, C., Ulyssea, G. (2020). The evolving impacts of COVID-19 on small businesses since the CARES act. https://EconPapers.repec.org/RePEc:cwl:cwldpp:2230 adresinden edinilmiştir.
  • Jasra J. M., Khan M. A., Hunjra A. I., Rehman R. A. U., Azam R.- I. (2011) Determinants of business success of small and medium enterprises, International Journal of Business and Social Science, 2 (20), 274 – 281. https://ijbssnet.com/journal/index/782:vol-2-no-20-november-2011abstract30&catid=19:hidden adresinden edinilmiştir.
  • 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, 47 (3), 499-510. doi:10.1007/s40812-020-00169-4
  • KOSGEB. (2005). Küçük ve Orta Büyüklükteki İşletmelerin Tanımı, Nitelikleri ve Sınıflandırılması Hakkında Yönetmelik. (25997). Ankara: Resmi Gazete
  • Kraus, S., Clauss, T., Breier, M., Gast, J., Zardini, A., Tiberius, V. (2020). The economics of COVID-19: initial empirical evidence on how family firms in five European countries cope with the corona crisis. International Journal of Entrepreneurial Behavior & Research, 26 (5), 1067-1092. doi:10.1108/IJEBR-04-2020-0214
  • Lazzeroni, M. (2020). Industrial decline and resilience in small towns: evidence from three European case studies. Tijdschrift voor Economische en Sociale Geografie, 111 (2), 182-195. doi: 10.1111/tesg.12368
  • Le, H. B. H., Nguyen, T. L., Ngo, C. T., Pham, T. B. T., Le, T. B. (2020). Policy related factors affecting the survival and development of SMEs in the context of Covid 19 pandemic. Management Science Letters, 10 (15), 3683-3692. doi:10.5267/j.msl.2020.6.025
  • Lee, N., Sameen, H., Cowling, M. (2015). Access to finance for innovative SMEs since the financial crisis. Research Policy, 44 (2), 370-380. doi: 10.1016/j.respol.2014.09.008
  • 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. doi:10.1080/17477891.2020.1763902
  • Mahajan, Y. (2020). Study of impact of coronavirus pandemic on small and medium enterprises (SME’s) in India. GIS SCIENCE JOURNAL, 7 (9), 1-6. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3739311 adresinden edinilmiştir.
  • Martin, R., Sunley, P., Gardiner, B., Tyler, P. (2016). How regions react to recessions: resilience and the role of economic structure. Regional Studies, 50 (4), 561-585. doi:10.1080/00343404.2015.1136410
  • Nyanga, T., Zirima, H. (2020). Reactions of small to medium enterprises in Masvingo, Zimbabwe to covid 19: implications on productivity. Business Excellence and Management, 10 (5), 22-32. https://ideas.repec.org/a/rom/bemann/v10y2020i5p22-32.html adresinden edinilmiştir.
  • OECD. (2005). OECD SME and Entrepreneurship Outlook: 2005. Paris
  • OECD. (2020). Coronavirus (COVID-19): SME policy responses. doi: 10.1787/04440101-en
  • Oral, İ. O., Sevinç, D. E. (2020). Covıd-19 eksenli sağlık krizinin ekonomi üzerindeki etkileri üzerine bir inceleme. Journal of Management Theory and Practices Research, 1 (1), 58-70. https://journals.academicianstudies.com/jmtpr/article/view/5 adresinden edinilmiştir.
  • Ozcan, S. K., Gourinchas, P.-O., Penciakova, V., Sander, N. (2020). COVID-19 and SME failures. Working paper. IMF. https://www.imf.org/en/Publications/WP/Issues/2020/09/25/COVID-19-and-SME-Failures-49753 adresinden edinilmiştir.
  • Qamruzzaman, M. (2020). COVID-19 Impact on SMEs in Bangladesh: An Investigation of What They Are Experiencing and How They Are Managing?
  • Rathore, U., Khanna, S. (2020). From slowdown to lockdown: effects of the COVID-19 crisis on small firms in India. SSRN. doi: 10.2139/ssrn.3615339
  • Robinson, J., Kengatharan, N. (2020). Exploring the effect of Covid-19 on Small and medium enterprises: early evidence from Sri Lanka. Journal of Applied Economics and Business Research, 10 (2), 115-125. https://pesquisa.bvsalud.org/global-literature-on-novel-coronavirus-2019-ncov/resource/en/covidwho-665263 adresinden edinilmiştir.
  • Segal, S., Gerstel, D. (2020). The global economic impacts of COVID-19, critical questions, Center for Strategic and International Studies (CSIS). https://www.csis.org/analysis. adresinden edinilmiştir.
  • Scupola, A., Fuglsang, L., Gallouj, F., Vorre Hansen, A. (2021). Understandings of social innovation within the Danish public sector: a literature review. Administrative Sciences, 11 (2), 49. https://www.mdpi.com/2076-3387/11/2/49 adresinden edinilmiştir.
  • Shafi, M., Liu, J., Ren, W. (2020). Impact of COVID-19 pandemic on micro, small, and medium-sized Enterprises operating in Pakistan. Research in Globalization, 2, 100018. doi: 10.1016/j.resglo.2020.100018
  • Sneader, K., Singhal, S. (2020). Beyond coronavirus: the path to the next normal, Article McKinsey ve Company. https://www.mckinsey.com/industries/healthcare-systems-and-services/our-insights/beyond-coronavirus-the-path-to-the-next-normal adresinden edinilmiştir.
  • Warsame, A. A. (2020). The impacts of COVID 19 on small and medium enterprises. European Journal of Business and Management, 12 (25), 96-105. doi: 10.7176/EJBM/12-25-11
  • Webster, J., Watson, R. T. (2002). Analyzing the past to prepare for the future: Writing a literature review. MIS Quarterly 26: xiii–xxiii.
  • Zeidy IA. Economic impact of covid-19 on micro, small and medium enterprises (msmes) in africa and policy options for mitigation. Common Mark. East. South. Africa. Nairobi; 2020. https://www.tralac.org/documents/resources/covid-19/regional/4049-economic-impact-of-covid-19-on-msmes-in-africa-and-policy-options-for-mitigation-comesa-special-report-august-2020/file.html adresinden edinilmiştir.
There are 38 citations in total.

Details

Primary Language Turkish
Subjects Human Geography
Journal Section Derleme
Authors

Mehmet Tahsin Şahin 0000-0003-1012-6814

Publication Date October 31, 2021
Published in Issue Year 2021

Cite

APA Şahin, M. T. (2021). Literatür Taraması Üzerinden Covid-19 Salgınının Küçük ve Orta Büyüklükteki İşletmelere (KOBİ) Etkisini Anlamak: Kavramsal Bir Analiz. Coğrafi Bilimler Dergisi, 19(2), 466-489. https://doi.org/10.33688/aucbd.956001