Crisis management and business continuity: Strategies for South African SMEs post-COVID-19

Abstract

Crises are inevitable in the business environment, and the effects can vary widely across small and large businesses. Depending on its severity, crisis can threaten the continuity of businesses, especially small and medium enterprises (SMEs). For instance, the recent COVID-19 pandemic saw the discontinuation of several businesses. Thus, it is essential to investigate the survival strategies that can be adopted to facilitate business continuity. This study performs a literature review to investigate the strategies that can be adopted by SMEs to foster business continuity amidst crises. Considering SMEs crucial contribution to global economic development, employment creation and poverty alleviation, it is crucial to identify strategies that facilitate business continuity among SMEs. The findings of this literature review indicate that technological innovation, business agility, organizational resilience, innovative marketing strategies and the retrenchment strategy can facilitate business continuity among SMEs. This research contributes to the literature on crisis management in business and highlight strategies that can be implemented for business continuity in SMEs. Future research should empirically investigate the adoption of these strategies in SMEs, and ways to overcome the challenges hindering their adoption and implementation for sustainable business continuity.

Keywords: {'name': 'Crisis management; Business continuity; Small and medium enterprises, Survival strategies, Entrepreneurship, Economic development.'}

Authors & affiliations

Wimbayi Chasaya
Affiliation not supplied

Ayansola O. Ayandibu
Affiliation not supplied

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Supplied references, not a list of publications citing this article.

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