Proceedings of the 2022 2nd International Conference on Financial Management and Economic Transition (FMET 2022)

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Research on the Survival Methods for Small and Medium-Sized Enterprises in the Post-COVID-19 Era

Authors
Xintong Cai1, *
1University College London, London, WC1E 6BT, UK
*Corresponding author. Email: xintongcai2022@163.com
Corresponding Author
Xintong Cai
Available Online 14 December 2022.
DOI
10.2991/978-94-6463-054-1_57How to use a DOI?
Keywords
SME; COVID-19; Business model innovation; Product innovation; Cost optimization
Abstract

Small and medium-sized enterprises (SMEs) outside of the internet industry (i.e., traditional SMEs) are facing more challenges after COVID-19 because of uncertainties and budget concerns brought by COVID-19 and threats from the internet sector. This paper examines how traditional SMEs can survive in the post-COVID-19 era. Using case analysis and literature analysis, this paper investigates and compares survival methods used by general SMEs after COVID-19 and survival methods used by traditional SMEs before COVID-19. The study’s research question could be answered by examining whether there is a link between how general SMEs deal with undesirable economic changes after COVID-19 and how traditional SMEs deal with threats from the internet industry prior to COVID-19. Based on the results, cost optimization is shared between methods, whereas innovation types differ. This paper thus presents three strategies to help traditional SMEs survive after COVID-19. While traditional SMEs should adopt a cost optimization strategy, the three types of innovation should be selected according to their resources and environment.

Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2022 2nd International Conference on Financial Management and Economic Transition (FMET 2022)
Series
Advances in Economics, Business and Management Research
Publication Date
14 December 2022
ISBN
978-94-6463-054-1
ISSN
2352-5428
DOI
10.2991/978-94-6463-054-1_57How to use a DOI?
Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Xintong Cai
PY  - 2022
DA  - 2022/12/14
TI  - Research on the Survival Methods for Small and Medium-Sized Enterprises in the Post-COVID-19 Era
BT  - Proceedings of the 2022 2nd International Conference on Financial Management and Economic Transition (FMET 2022)
PB  - Atlantis Press
SP  - 529
EP  - 536
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-054-1_57
DO  - 10.2991/978-94-6463-054-1_57
ID  - Cai2022
ER  -