This research paper highlights the economic impact on small and medium-sized enterprises (SMEs) due to Coronavirus outbreaks. It proposes factors that influence the strengthening and survival of SMEs.
In this research, resilience is reflected in the following aspects hope, problem resolution and persistence. This quantitative study analyses a purposive sample of 120 small and medium-sized firms in India. The study's primary data are the responses to questionnaires issued to respondents, analyzed and hypotheses formed and tested using the structural equation modeling (SEM) technique.
The study results show that all the variables significantly reduce the impact of COVID-19 on SMEs. The presented model is expected to help researchers, business modelers, analysts and real professionals with further studies in the SME context.
This new approach adds to the business resilience knowledge of SMEs and has practical implications for manufacturing organizations seeking to become robust during and after COVID-19.
