The impact of Covid-19 Movement Control Order on SMEs’ businesses and survival strategies
By A. Omar, S. Ishak, Mohd Abdullah Jusoh. Malaysian Journal of Society and Space, 2020
169 citations recorded by the source corpus.
Coronavirus outbreak is the latest world tragedy that have affected all sectors in economy The lockdown, confinement, limited movement order and social distancing are amongst the preemptive governments' effort to safeguard the public health While recognizing the importance of the national order in preventing the immense spread of the virus, the authors contend that there are certain undiscovered impacts of the control order policy on SMEs in Malaysia The objectives of this article are to scrutinize the implications of the Covid-19 Movement Control Order (MCO) on SMEs businesses and to identify survival strategies based on the owners' perspectives The study applies qualitative approach conducted through phone-based interviews with six selected SMEs' owners during the first phase of control order from March 18, 2020 to March 31, 2020 In summary, the impacts of MCO on SMEs are classified into the operational problems (i e operation distruption;supply chain distruption;foresighting the future business direction) and the financial problems (i e cash flow imbalance;access to stimulus packages;risk of bankcruptcy) Meanwhile, the major themes of current survival strategies fall under the financial and marketing strategies The paper recommends few suggestions for future research work, business development agencies and entrepreneurs
Subfields: Accounting, Economics and Econometrics
View Paper: https://www.semanticscholar.org/paper/2a5c3f485348cfc71ed7406b752d01be3e7bb075
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Citations in the corpus
- From Challenges to Creativity: Enhancing SMEs’ Resilience in the Context of COVID-19 (2021, background): “The authors of [14] highlighted how organisations can develop automation in mitigating against movement control orders (MCOs) that have been imposed as an additional crisis by the Malaysian government.”
- Innovative Finance, Technological Adaptation and SMEs Sustainability: The Mediating Role of Government Support during COVID-19 Pandemic (2021, background): “[64] investigated the survival strategies adopted by the SMEs to mitigate the impact of the current pandemic by collecting data from 18 March 2020, to 30 April 2020.”