Research on the Survival Methods for Small and Medium-Sized Enterprises in the Post-COVID-19 Era

DOI

10.2991/978-94-6463-054-1_57How to use a DOI?

Keywords

SME; COVID-19; Business model innovation; Product innovation; Cost optimization

Abstract

Small and medium-sized enterprises (SMEs) outside of the internet industry (i.e., traditional SMEs) are facing more challenges after COVID-19 because of uncertainties and budget concerns brought by COVID-19 and threats from the internet sector. This paper examines how traditional SMEs can survive in the post-COVID-19 era. Using case analysis and literature analysis, this paper investigates and compares survival methods used by general SMEs after COVID-19 and survival methods used by traditional SMEs before COVID-19. The study’s research question could be answered by examining whether there is a link between how general SMEs deal with undesirable economic changes after COVID-19 and how traditional SMEs deal with threats from the internet industry prior to COVID-19. Based on the results, cost optimization is shared between methods, whereas innovation types differ. This paper thus presents three strategies to help traditional SMEs survive after COVID-19. While traditional SMEs should adopt a cost optimization strategy, the three types of innovation should be selected according to their resources and environment.

Copyright

© 2023 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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TY  - CONF
AU  - Xintong Cai
PY  - 2022
DA  - 2022/12/14
TI  - Research on the Survival Methods for Small and Medium-Sized Enterprises in the Post-COVID-19 Era
BT  - Proceedings of the 2022 2nd International Conference on Financial Management and Economic Transition (FMET 2022)
PB  - Atlantis Press
SP  - 529
EP  - 536
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-054-1_57
DO  - 10.2991/978-94-6463-054-1_57
ID  - Cai2022
ER  -