Adaptation of Small and Medium-sized Enterprises During the COVID-19 Pandemic

Abstract

The article analyses static data that show the deterioration of the situation of SMEs around the world, both in developed and developing countries. Measures taken by governments to support SMEs and overcome the crisis were considered in the analysis. In most cases, they turned out to be insufficient to help reach the pre-pandemic economic level. The article also confirms that the self-employed and female entrepreneurs have suffered most. Industries such as tourism, construction industry, wholesale and retail trade, real estate, and services have suffered major loss.