The Challenges and Development Opportunities for Chinese SMEs During the Pandemic

DOI

10.2991/aebmr.k.220603.217How to use a DOI?

Keywords

COVID-19 pandemic; SMEs; catering industry; tourism industry; business development

Abstract

Since the sudden outbreak of the coronavirus at the beginning of 2020, the pandemic has taken a toll on all sectors globally, posing a difficult challenge to all industries in China, especially the catering and tourism industries, which have witnessed significant drops in customer numbers and tourist arrivals, particularly affecting small and medium-sized enterprises (SMEs). Due to the fear of contracting the virus, people are reluctant to eat out and travel around. In addition to the declining number of customers, the rising labour costs, expired stockpiles and the extra costs of purchasing medical products for pandemic prevention have forced many small businesses to go bankrupt. Companies themselves can advertise their products by adopting new forms of selling, such as takeaways and live streaming. Besides, the government can cut enterprise taxes and provide low-cost or even free medical materials, helping businesses reduce losses and weather the pandemic.

Copyright

© 2022 The Authors. Published by Atlantis Press International B.V.

Open Access

This is an open access article distributed under the CC BY-NC 4.0 license.

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TY  - CONF
AU  - Xinyu Lu
PY  - 2022
DA  - 2022/07/01
TI  - The Challenges and Development Opportunities for Chinese SMEs During the Pandemic
BT  - Proceedings of the 2022 2nd International Conference on Enterprise Management and Economic Development (ICEMED 2022)
PB  - Atlantis Press
SP  - 1341
EP  - 1346
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.220603.217
DO  - 10.2991/aebmr.k.220603.217
ID  - Lu2022
ER  -