COVID-19: reinvention of the business models of MYPEs and entrepreneurships in Antiguo Cuscatlán and Santa Tecla for the restaurant and retail sectors
DOI:
https://doi.org/10.51378/reuca.v0i11.6176Keywords:
COVID-19, Pandemic, Business model, Micro and Small Enterprises (MSEs), Entrepreneurship, Business Model Innovation (BMI)Abstract
The research objective is to identify the impact of the crisis caused by COVID-19 in the business model of Micro and Small Enterprises (MSEs) located in Santa Tecla and Antiguo Cuscatlán dedicated to retail trade or restaurant industry. The main research question is how the pandemic has affected the business logic of these companies, focusing on the changes they have experienced in times of government ruled emergency. In addition, considerable attention is given to the measures implemented by these businesses to alleviate the negative effects of the COVID-19 outbreak.
An exploratory methodology was adopted with a comprehensive review of the available literature, including policy papers, research and reports in the relevant fields. In addition, to add empirical evidence, data was collected from 60 MSEs that fit the study profile through an online survey.
The results of the survey show that the crisis of COVID-19 has affected the business model of the consulted enterprises in different ways and with different intensity. Most of the participating companies face changes in business financing, commercial alliances, distribution channels, products, and innovation. They also demonstrate the importance of the renewal of business models in the effort of MSEs to overcome the pandemic crisis.
Realidad Empresarial No. 11, 2021: 23-38
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