THE IMPACT OF COVID PANDEMIC AND THE POLICY ACTION FOR RECOVERY OF THE SMALL AND MEDIUM ENTERPRISES

Abstract

The current pandemic circumstances caused by the impact of the COVID-19 virus is an obstacle for the management of small and medium enterprises (SMEs). Due to the crisis, the management of SMEs is forced to introduce changes and policies in order to quickly adapt to the changes in the environment and overcome the situation swiftly.

It is an indisputable fact that the SMEs are drivers of the inclusive economic growth and operators for creating productive and sustainable occupations. Therefore, the subject of this paper focuses on recognizing the negative effects on the work of the SMEs caused by the impact of the COVID-19 virus and the pandemic, as well as the policies and measures taken by management and the state in order to overcome the situation, which has been going on for two years.

The changes in the life and the work that consist of the introduction of restrictive measures, changes in the social life of people have caused reduced workload or the closure of many SMEs for a certain period of time. This paper presents an overview of the impact of the COVID-19 virus on the work of the SMEs, as well as the policies and measures implemented by the SMEs and the state in order to overcome the situation.

The main focus of the paper is on the operational adjustment policies of the enterprises implemented by the managers in the new working conditions.