Strategies for business survival for smes in the City of Pasto

Abstract

In environments as turbulent as the current ones, characterized by various economic, political, social, technological and environmental problems, companies are required to be prepared to face sudden changes and be able to survive over time. This research evaluated the implementation of some survival strategies in a group of SMEs in the city of Pasto in order to establish how they have responded to moments of crisis in recent years. A questionnaire with a Likert scale was applied to a total of 221 companies, finding that in most cases they have chosen to improve products and have received tax benefits for income tax. However, in recent times, state support that materializes in financial resources is required to sustain staff salaries and avoid massive layoffs that further deepen the health crisis that has negatively impacted household consumption.