Impacts of the COVID-19 Pandemic on Chinese SMEs and Countermeasures

DOI

10.2991/aebmr.k.220603.138How to use a DOI?

Keywords

Covid-19; Pandemic; SMEs; China

Abstract

Small and medium-sized enterprises (SMEs) in China have contributed a lot to China’s economic growth. Yet they are more vulnerable to the Covid-19 pandemic. This paper analyses the impacts of Covid-19 on SMEs and offers countermeasures. Based on the author’s observations of 182 SMEs in the surrounding community, 49 SMEs were shut down and more than 10 were unprofitable during the year 2020 and 2021. The author also studied the prosperity index such as Purchasing Managers’ Index (PMI) and found that small businesses suffered a lot more than large ones from the pandemic. From an indirect perspective, the author found that SMEs confronted higher operation costs and severer financing stresses during the pandemic. The author suggests that the governments, the SMEs, and the society should all take some measures to resolve the issues.

Copyright

© 2022 The Authors. Published by Atlantis Press International B.V.

Open Access

This is an open access article distributed under the CC BY-NC 4.0 license.

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TY  - CONF
AU  - Weijia Meng
PY  - 2022
DA  - 2022/07/01
TI  - Impacts of the COVID-19 Pandemic on Chinese SMEs and Countermeasures
BT  - Proceedings of the 2022 2nd International Conference on Enterprise Management and Economic Development (ICEMED 2022)
PB  - Atlantis Press
SP  - 843
EP  - 848
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.220603.138
DO  - 10.2991/aebmr.k.220603.138
ID  - Meng2022
ER  -