Indian Journal of Economics and Development
  • Year: 2021
  • Volume: 17
  • Issue: 3

Covid-19 Pandemic: Concerns, Impact and Continuity Strategies for Small Businesses in India

  • Author:
  • Vinay Chauhan1,, Avantika Bakshi2
  • Total Page Count: 12
  • Page Number: 681 to 692

1Professor

2Research Scholar, The Business School, University of Jammu, New Campus, Baba Saheb Ambedkar Road, Jammu-180 006 (J&K)

*Corresponding author's email: avantika.bakshi11@gmail.com

JELCodes: L00, L60, M10, O50

Abstract

History is a testament that small businesses are most affected by the global economic fallouts, be it the great depression (2008) or Covid-19. The paper aimed to address the concerns and impact of the prevailing Covid-19 Pandemic on small businesses, globally and nationally. Secondary data from repositories of international repute along with causal chain analysis was used for the purpose. Findings showed that new-found challenges occurred on the demand and supply fronts in India. Curbing the various immediate and peripheral consequences required long-term planning and holistic support mechanisms. Suggestive strategies using the stakeholder approach are presented at the firm, industry, and environmental level to ensure small business continuity and future preparedness.

Keywords

Covid-19, emerging economies, pandemic preparedness strategies, small and medium businesses