Journal ID : TRKU-12-09-2020-11102
[This article belongs to Volume - 62, Issue - 09]
Total View : 440

Title : Impact Of The COVID-19 Crisis On Slovakian Small And Medium-Sized Enterprises

Abstract :

Small and medium-sized enterprises are the first victims of the current coronavirus crisis. Their relative deficiencies in finance, technological, managerial, and human skills may reduce their chance to overcome the crisis. On the other hand, they have a dependence on larger customers and suppliers, which now are fighting problems due to pandemic. The study summarizes the experiences of small and medium-sized enterprises in connection with the COVID-19 crisis on the basis of our primary research. The main indicators of the study were selected: the nature of the impact of coronavirus on the business, the nature of the problems that arise, the order of managers to increase the efficiency of enterprise management in the pandemic environment. The primary aim of the study is to examine how the COVID-19 crisis has affected Slovakian SMEs, thus providing useful information for economic actors. Analysis of the data showed that coronavirus had an immediate and tangible effect on small and medium-sized enterprises in Slovakia. The study confirmed the hypotheses: the COVID-19 crisis has a significant impact on the economic activity of Slovak small and medium-sized enterprises, primarily through job cuts; The COVID-19 crisis has a significant impact on the employment characteristics of small and medium enterprises in Slovakia. The crisis is generally affecting small and medium-sized enterprises strongly, but it also provides an opportunity for innovative companies to grow faster and gain new markets. According to results the fall in demand and uncertainty of the markets is the worst consequence of the crisis.

Full article