Strategies for small business: Surviving and thriving in the era of COVID-19

Abstract

The upheaval caused by the spread of COVID-19 is having a devastating effect on small businesses. A review of the data on COVID-19’s impact on micro-, small, and medium-sized enterprises suggests the economic fallout from this pandemic will get worse for small businesses and their employees before it gets better. To help combat the negative effects, this article offers practical and tactical strategies for navigating the uncertainty and risk especially prevalent in today’s pandemic-filled business environment.