Public Aid for Relieving the Effects of COVID-19 Pandemic

Spoz, Anna; Kotlinski, Grzegorz; Mizak, Anna; Żukowska, Helena

doi:10.35808/ersj/1844

Cited by 4 publications

(4 citation statements)

References 7 publications

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“…Liquidity was further protected by freeing up free financial resources. Additionally, due to restrictions implemented at a governmental level, such as social distancing and lockdowns (Spoz et al, 2020), where possible family businesses implemented e-commerce trade and remote work. We believe that businesses will take part in strategic renewal as a crisis response if family businesses are able to find space to breathe after the initial pandemic shock.…”

Section: U M C Smentioning

confidence: 99%

Reactions of Family Businesses to the Initial Effects of Pandemic Shock

Domańska

Gryglicka

Samodulski

2022

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Theoretical background: A pandemic shock caused by the COVID-19 virus spread around the world, negatively affecting social and economic life in short term. Lockdowns, shutdowns and restrictions hit business performance extremely hard. Family businesses, a significant part of the business sector, are entities focusing generally on continuity, futurity and perseverance. Due to their multi-generational perspective, these firms are forced to react in the short term to deter negative impacts of the pandemic, including a drop in revenue and employment alongside doubtful prospects of survival. As an anti-crisis remedy, family businesses have drawn from their economic specificity to implement several intrinsic solutions aimed at mitigating the negative impacts of an economic downturn. Purpose of the article: The purpose of the paper is to isolate and determine which retrenchment, persevering and innovating responses to crisis were undertaken by family businesses as a remedy for the negative consequences of the pandemic shock.Research methods: The data collection was conducted in April and early May 2020. The final sample totalled 202 family businesses from Poland, and research questions were investigated by employing logit regression models. The dependent variables were various actions undertaken by family firm due to the crisis and independent variables were negative pandemic impact in businesses and self-estimated probability of their survival. Main findings: Family businesses facing a drop of employment decided to switch employees to non-paid holidays, reduce wages, switch employees to remote work and further tap liquid finance reserves. In addition, they started to liquidate less profitable areas if they expected a further employment drop. In the case of revenue decrease, these firms also reduced wages, suspended repayment of loans and leasing handling and extended payment terms of liabilities. The family firms investigated in this study that estimated a lower level of capital survivability also decided to liquidate less profitable areas of activity, sell less important production assets, suspend repayment of loans and leasing handling, extend payment terms of liabilities and suspend investment processes.

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Section: U M C Smentioning

confidence: 99%

Reactions of Family Businesses to the Initial Effects of Pandemic Shock

Domańska

Gryglicka

Samodulski

2022

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“…Managing an enterprise in the current economic conditions pandemic is an extremely complicated task due to the lack of precedents giving guidelines for enterprises resulting from history. The economic success of a business is contingent on providing important public assets (Spoz, Kotliński, Mizak, and Żukowska, 2020). Small businesses must take the lead in correlating business with society, thus basing their existence on shared values (Kagan, 2012).…”

Section: Introductionmentioning

confidence: 99%

Success of SMEs in the Era of Pandemics

Urbańska¹,

Parkitna²,

Kubicka³

2021

ERSJ

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Purpose: The objective of this article is the identification of SMEs' business environment factors affecting success during a pandemic. Design/Methodology/Approach: The research was based on a deductive approach and was conducted in the first months of the pandemic in 2020 in the Lower Silesia. The research technique used GOOGLE electronic survey questionnaire and the collected data were statistically processed (SPSS). Nonparametric tests were used to analyze the data. Findings: The results of the collected data confirmed the previous literature analysis conducted in the theoretical part of the paper. The verification of the research hypotheses on the assumptions of the influence of the environment on the success of enterprises during pandemmic did not confirm what may be the reason for the initial shock of the market and the lack of preparation of entrepreneurs for the new economic reality during pandemic. The verification of the specific hypotheses showed that the empirical approach adopted coincided with the conceptual approach formed based on the theoretical analysis of the literature on the subject. Practical Implications: The analysis of the results is partially consistent with the literature studies on the impact of the environment on micro and small enterprises conducted before the pandemic. Nevertheless, the assumptions made at the stage of selecting the research sample, allow to formulate a thesis about the broader universality of the confirmed regularities, which should be confirmed in extended research. Originality/value: The paper describes the diagnosed competence gap in the area of SMEs management in the current economic conditions of the pandemic. Which is an extremely complicated task due to the lack of precedents giving guidance to enterprises resulting from history and literature on the subject. In view of this, the identification of environmental factors leading to the maintenance of success in such unusual conditions is a desirable goal to achieve in scientific and practical aspects.

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“…It developed very fast, bringing grave changes that affected various areas of society, state, and business as a consequence (Starostin et al, 2020, p. 531). Studies concerning the impact of the COVID-19 pandemic on the market behaviour of consumers (Ahmed et al, 2020;Khan et al, 2020), the insurance market (Kizielewicz, 2020), the global stock markets (Khatatbeh et al, 2020), the operation of the tourist sector (Bera et al, 2020), the enterprise activities (Banaszyk and Gorynia, 2020;Grima et al, 2020), and the government actions in respect to public aid for enterprises and households and the overall condition of public finances (Spoz et al, 2020) have been published in recent literature. Banaszyk and Gorynia (2020) believe that the COVID-19 pandemic is extraordinarily important, unusual, and exceptionalit applies to virtually all of the global economy and displays an unprecedented or nearly unprecedented force, an unusual distribution over time (the scenario of spreading across various parts of the world), a moderate diversity of the anticipated duration, significant variability in its impact, and epidemiological, economic, and social effects.…”

Section: Introductionmentioning

confidence: 99%

Competition Instruments Applied by Large Enterprises during the Crisis Triggered by the COVID-19 Pandemic

Duda¹,

Wolak-Tuzimek²,

Wójtowicz³

2021

ERSJ

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Purpose: This paper is intended to examine the effects of the crisis that was caused by the COVID-19 pandemic on the selection of instruments of competition used by enterprises. A research hypothesis (H1) is advanced: at the time of the crisis that was caused by the COVID-19 pandemic, enterprises have employed new key instruments of competition in order to attain a better competitive standing in the market. The concept and nature of competitiveness are discussed, and instruments of competition are detailed as a dimension of competitiveness. Design/Methodology/Approach: The theoretical section of the paper is based on a comprehensive review of leading specialist literature. The hypothesis is verified by means of exploratory factor analysis, which serves to detect an optimal group of main factors and explicate correlations between observable variables. The number of factors is determined using the Cattell's scree criterion and Kaiser criterion. Findings: The paper contains the results for a group of 253 large Polish enterprises. A factorbased model of competition instruments that have been used by enterprises at the time of the crisis that was caused by the COVID-19 pandemic is constructed by using exploratory factor analysis. Three factors are defined: the product, quality, and distribution that are currently being applied by enterprises. Distribution is identified as a new key instrument of competition, while the utilisation of Internet channels allows for maintaining one's competitive status in the market. Practical Implications: The results may be taken advantage of by entrepreneurs. They constitute indications for selecting competition instruments during the crises. Originality/Value: The paper contains the authors' original research into a representative group of large enterprises that can be generalised to the entire population assuming a level of confidence of α = 95% and maximum error of β = 6%.

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Public Aid for Relieving the Effects of COVID-19 Pandemic

Cited by 4 publications

References 7 publications

Reactions of Family Businesses to the Initial Effects of Pandemic Shock

Reactions of Family Businesses to the Initial Effects of Pandemic Shock

Success of SMEs in the Era of Pandemics

Competition Instruments Applied by Large Enterprises during the Crisis Triggered by the COVID-19 Pandemic

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