A New Strategic Business Expectancy for MSME Sustainability: The Impact of Uncertainty During the COVID-19 Pandemic

Abstract

The COVID-19 pandemic has led to a significant economic crisis. Production activities have stopped, people’s purchasing power has decreased, and the fall in the stock market has led to uncertainty. MSMEs need to maintain business continuity during a pandemic to exist after the pandemic is over. The purpose of this research was to analyze the impact of COVID-19 on MSMEs and to suggest several strategies to maintain business continuity. Qualitative research methods and a thematic analysis approach were used to examine themes and patterns. Most interview participants said they had been strongly affected by this pandemic. Several entrepreneurs assessed how the emerging needs which related to the COVID-19 business crisis could affect their business and how to take appropriate action. Keywords: Business Strategy, COVID-19 Impact, Indonesia Entrepreneurs, Small Business