Proceedings of the 2022 International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2022)

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The Impact of the Epidemic on Small and Medium-Sized Enterprises and Its Strategies

Authors
Jinrui Li1, *, Haina Yang2
1Business School, University of Warwick, Coventry, CV4 7AL, UK
2Business School, Rutgers University, 100 George Street, New Brunswick, USA
*Corresponding author. Email: Jinrui.Li@warwick.ac.uk
Corresponding Author
Jinrui Li
Available Online 27 December 2022.
DOI
10.2991/978-94-6463-052-7_103How to use a DOI?
Keywords
SMEs; US; Effect
Abstract

Since 2000, 99.9% of U.S. businesses have been small businesses, providing many jobs and opportunities in the United States. But the COVID-19 pandemic has adversely affected small businesses in the United States. Influenced by the epidemic, there is a global shortage of materials, and the cost of supply chains and raw materials is rising rapidly. At the same time, in recent years, almost all small and medium-sized enterprises in the United States have faced shutdowns, and the supply and demand ports have been greatly affected. Costs have increased significantly, which has prompted the development of small and medium-sized enterprises in the United States to encounter more crises. Starting from the bankruptcy and employee status caused by the economic difficulties American small and medium-sized enterprises faced during the epidemic, this paper analyzes the cash flow difficulties and cost control problems of American small and medium-sized enterprises due to COVID-19. They summed up how to find a suitable way for small and medium-sized enterprises to maintain their company stability and how to continue to develop over some time, which includes reducing costs and improving product sales to survive the epidemic.

Copyright
© 2022 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2022 International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2022)
Series
Advances in Economics, Business and Management Research
Publication Date
27 December 2022
ISBN
10.2991/978-94-6463-052-7_103
ISSN
2352-5428
DOI
10.2991/978-94-6463-052-7_103How to use a DOI?
Copyright
© 2022 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Jinrui Li
AU  - Haina Yang
PY  - 2022
DA  - 2022/12/27
TI  - The Impact of the Epidemic on Small and Medium-Sized Enterprises and Its Strategies
BT  - Proceedings of the 2022 International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2022)
PB  - Atlantis Press
SP  - 911
EP  - 919
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-052-7_103
DO  - 10.2991/978-94-6463-052-7_103
ID  - Li2022
ER  -