Drawing Insights from Adversity: Business Resilience Strategies of Agribusiness Micro and Small Enterprises (MSEs) from Covid-19 Pandemic and Natural Disasters

Abstract

Micro and Small Enterprises (MSEs) serve as the backbone of any economy, making significant contributions to employment and economic growth. However, the Covid-19 pandemic along with natural disasters had detrimental impacts on these enterprises. The study determined the strategies employed by agri-business MSEs to enhance their resiliency stemming from the challenges and struggles they have experienced as a result of these calamities. It made use of the qualitative research design specifically the Descriptive Case Study approach. 15 agribusiness MSEs within La Trinidad, Benguet were interviewed selected through purposive sampling. The narratives were analyzed using Yin’s Model. The study found that the enterprises were severely impacted by the pandemic and natural disasters. They lost money, properties, and resources, and their commercial activities were affected. In response, the management of these companies have implemented five strategies to bolster their resilience. Firstly, they improved their online visibility by creating or updating their websites and maximizing the use of social media channels. Secondly, they promoted increased partnership and cooperative efforts with other businesses. Thirdly, they innovated their processes and services. Fourth, they introduced new products. Lastly, they optimized their resources. They also mentioned other actions that can increase resilience even further, such as obtaining insurance, setting aside for contingency funds, enhancing financial monitoring, and creating a plan to manage risks and outline a suitable course of action in the event of calamities. The study concludes that most of the enterprises use reactive techniques rather than adaptive ones. They strive to achieve resilience by adjusting to circumstances, demonstrating resourcefulness, and maximizing available resources. The researcher recommends that other MSEs benchmark on the findings and giving more emphasis to preparation through contingency planning and crisis management strategies. Furthermore, it is also recommended to concerned government agencies and non-government organizations support these measures through relevant policies and programs.