Entrepreneurial challenges of COVID-19: Re-thinking entrepreneurship after the crisis

Abstract

The COVID-19 pandemic substantially influenced the world economy, affecting entrepreneurs and SMEs alike. This paper critically examines the relationship between entrepreneurship and COVID-19 through an integrative review analyzing 79 existing studies on the topic. We posit a novel framework for postcrisis recovery, identifying three phases of activity: business resumption (the decision to restart operations following a crisis), crisis impact analysis (understanding how the firm has changed as a result of the crisis), and future review and modification (examining how businesses need to move forward in the latter days following a crisis). Further, we call for additional entrepreneurship research embedded in a crisis environment, with the hope that new scholarship in this regard will provide a chance to increase awareness of the critical role of entrepreneurial management in society.