COVID-19 SWOT ANALYSIS FOR SMALL BUSINESS

Markovska, Monika and Milenkovski, Bozidar (2021) COVID-19 SWOT ANALYSIS FOR SMALL BUSINESS. International Journal Knowledge, 44.1. (1). p. 43. ISSN 2545-4439

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Abstract

The Covid-19 pandemic is something unprecedented in the human history. It has led to a serious health crisis worldwide, followed by an even more serious economic crisis globally, regionally and locally which is difficult to quantify. Due to the large number of lost lives, this pandemic has devastating social effects, but has also led to serious economic challenges such as: economic recession, reduced trade and significantly weakened financial flows. The Covid-19 pandemic is expected to trigger a deeper and more serious economic and social crisis in the following period. With all this in mind, there is an inevitable need for small businesses to adapt to the situation with Covid-19. They are simply imposed to questions such as: Can this health and economic crisis open new business opportunities? Will the Covid-19 pandemic cause aversion to risk, that is, will it cause a decline in entrepreneurial activity in the coming period? Are governments expected to play an increasing role in regulating economic flows versus the market mechanism? etc. In order to answer these questions that affect every type of small business, in this paper has been used SWOT analysis adapted to the situation with Covid-19.
Keywords: Covid-19, SWOT analysis, small business, economic crisis, business opportunities.

Item Type:	Article
Subjects:	Scientific Fields (Frascati) > Social Sciences > Economics and Business
Divisions:	Faculty of Information and Communication Technologies
Depositing User:	Prof. d-r. Monika Markovska
Date Deposited:	31 Aug 2021 10:37
Last Modified:	31 Aug 2021 10:37
URI:	https://eprints.uklo.edu.mk/id/eprint/6251

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