FEATURES OF MEDIUM AND SMALL BUSINESS ACTIVITY IN THE CONTEXT OF A PANDEMIC COVID-19

Keywords: small business, medium business, corona crisis, quarantine, digitalization

Abstract

The article is devoted to the issue of the current state of micro, small and medium-sized businesses in Ukraine, taking into account the consequences for it of the anti-epidemiological measures introduced in recent years. The interest in this problem is due to the fact that it is small and medium-sized enterprises that represent the fundamental force for the constant economic growth of the state. These entities inherently have numerous advantages over large enterprises. Bearing on themselves a significant tax burden and forming a significant share of GDP, they increase their own importance in improving, first of all, the material and social components of the quality of life of the population. The article analyzes the dynamics of the number of operating small and medium-sized enterprises over the past 10 years. Changes in the number of employees in business units of the studied organizational and legal forms for the same period of time are considered. Since 2019, the whole world has been in constant socio-political tension, which has resulted in an economic crisis of enormous proportions, now referred to as the “coronacrisis”. Due to the rapid spread of the acute respiratory disease Covid-19 caused by the SARS-CoV-2 coronavirus, the authorities were forced to make instant decisions. They are displayed in the introduction of the lockdown and the whole set of quarantine restrictions. As a result of their implementation, almost every branch of industry and agriculture has undergone tangible changes, which are more characterized as "decline". At the same time, the areas for which quarantine, on the contrary, became the impetus for the transition to a better level of running their own business, were identified. After analyzing the factors hindering the development of small and medium-sized businesses in Ukraine, the authors identified the main problems of the activities of business structures in the context of the Covid-19 pandemic. In addition, attention was paid to the search for tools to improve the situation of small and medium-sized businesses in Ukraine. In particular, it was established that there is a system of support from the state for economic units affected by quarantine. The essence of business digitalization is stated as one of the most effective ways out of the current situation.

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Published
2021-11-30
How to Cite
Vasiuta, V., & Zhytnyk, O. (2021). FEATURES OF MEDIUM AND SMALL BUSINESS ACTIVITY IN THE CONTEXT OF A PANDEMIC COVID-19. Economy and Society, (33). https://doi.org/10.32782/2524-0072/2021-33-40
Section
ENTREPRENEURSHIP, TRADE AND STOCK EXCHANGE ACTIVITY