IDEAS home Printed from https://ideas.repec.org/a/eco/journ1/2024-01-12.html
   My bibliography  Save this article

How was the SME’s Performance in Oman during Covid-19?

Author

Listed:
  • Atallah Firas Al Taha

    (Muscat, Oman)

Abstract

The paper examines the performance and the challenges faced by SMEs in Oman during Covid-19. The data was collected through primary and secondary sources. A questionnaire of 100 respondents was used. Descriptive analysis and chi-squared test have been employed in the data analysis. The main findings of the study showed despite the adverse effect of the pandame, the SMEs in Oman have performed well and indicated a resilient and adaptable strategy to cope wth the virus. The reason for this could be attributed to their ability to quickly transition to remote work and online operations. During such a challenging period, some businesses managed to thrive due to their ability to identify opportunities and leverage them. Moreover, the study revealed that financial stability and preparedness are key to navigating the pandemic's uncertainties, as businesses focus on risk management, budget planning, and saving money. In response to unexpected disruptions, businesses have become more cautious and strategic in their financial decisions. SME resilience against future crises is enhanced as a result of SMEs adopting more prudent financial practices. The key challenges faced by SMEs during Covid-19 included delivery delays, reduced income for consumers, and regulation changes. The SMEs in Oman devised severalrisk management strategies, such as maintaining backup plans and setting aside funds, reflect a forward-thinking approach. The findings indicate that businesses in Oman are actively seeking ways to minimize disruptions to their operations and mitigate potential risks. Long-term resilience can be built by such strategic thinking.

Suggested Citation

  • Atallah Firas Al Taha, 2024. "How was the SME’s Performance in Oman during Covid-19?," International Journal of Economics and Financial Issues, Econjournals, vol. 14(1), pages 126-135, January.
    • Handle: RePEc:eco:journ1:2024-01-12
    as

    Download full text from publisher

    File URL: https://www.econjournals.com/index.php/ijefi/article/download/15380/7725
    Download Restriction: no
    File URL: https://www.econjournals.com/index.php/ijefi/article/view/15380
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Robert W. Fairlie, 2020. "The Impact of Covid-19 on Small Business Owners: The First Three Months after Social-Distancing Restrictions," CESifo Working Paper Series 8581, CESifo.
    2. Abriham Ebabu Engidaw, 2022. "Small businesses and their challenges during COVID-19 pandemic in developing countries: in the case of Ethiopia," Journal of Innovation and Entrepreneurship, Springer, vol. 11(1), pages 1-14, December.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Iva Gregurec & Martina Tomičić Furjan & Katarina Tomičić-Pupek, 2021. "The Impact of COVID-19 on Sustainable Business Models in SMEs," Sustainability, MDPI, vol. 13(3), pages 1-24, January.
    2. Ioannis Giotopoulos & Alexander S. Kritikos & Aggelos Tsakanikas, 2023. "A lasting crisis affects R&D decisions of smaller firms: the Greek experience," The Journal of Technology Transfer, Springer, vol. 48(4), pages 1161-1175, August.
    3. Mindes, Samuel C.H. & Lewin, Paul, 2021. "Self-employment through the COVID-19 pandemic: An analysis of linked monthly CPS data," Journal of Business Venturing Insights, Elsevier, vol. 16(C).
    4. John C. Haltiwanger, 2022. "Entrepreneurship during the COVID-19 Pandemic: Evidence from the Business Formation Statistics," Entrepreneurship and Innovation Policy and the Economy, University of Chicago Press, vol. 1(1), pages 9-42.
    5. Charlie Tchinda & Marcus Dejardin, 2021. "Are Business Policy Measures in Response to the COVID-19 Pandemic to Be Equally Valued? An Exploration According to SMEs Owners’ Business Expectations," Sustainability, MDPI, vol. 13(21), pages 1-42, October.
    6. Robert Fairlie & Frank M. Fossen, 2022. "The 2021 Paycheck Protection Program Reboot: Loan Disbursement to Employer and Nonemployer Businesses in Minority Communities," AEA Papers and Proceedings, American Economic Association, vol. 112, pages 287-291, May.
    7. Vincent Miozzi & Benjamin Powell, 2023. "The pre-pandemic political economy determinants of lockdown severity," Public Choice, Springer, vol. 197(1), pages 167-183, October.
    8. Lingli Yu & Ling Yang, 2024. "News media in crisis: a sentiment and emotion analysis of US news articles on unemployment in the COVID-19 pandemic," Palgrave Communications, Palgrave Macmillan, vol. 11(1), pages 1-9, December.
    9. Uliana Berezhnytska & Olena Dobrovolska & Liudmyla Uniiat & Alisa Shevchenko & Yuliia Horiashchenko & Lina Halaz, 2022. "Institutional Principles of Intensifying the Innovative Development of Small and Medium Agribusiness," Journal of Agriculture and Crops, Academic Research Publishing Group, vol. 8(4), pages 275-282, 10-2022.
    10. Abel Brodeur & David Gray & Anik Islam & Suraiya Bhuiyan, 2021. "A literature review of the economics of COVID‐19," Journal of Economic Surveys, Wiley Blackwell, vol. 35(4), pages 1007-1044, September.
    11. Santos, Cezar & Kozeniauskas, Nicholas & Moreira, Pedro, 2020. "Covid-19 and Firms: Productivity and Government Policies," CEPR Discussion Papers 15156, C.E.P.R. Discussion Papers.
    12. Michal Hrivnák & Peter Moritz & Marcela Chreneková, 2021. "What Kept the Boat Afloat? Sustainability of Employment in Knowledge-Intensive Sectors Due to Government Measures during COVID-19 Pandemic," Sustainability, MDPI, vol. 13(15), pages 1-21, July.
    13. Lafortune, Jeanne & Pugatch, Todd & Tessada, José & Ubfal, Diego, 2022. "Can interactive online training make high school students more entrepreneurial? Experimental evidence from Rwanda," GLO Discussion Paper Series 1041, Global Labor Organization (GLO).
    14. Keith Finlay & Michael Mueller‐Smith & Brittany Street, 2023. "Criminal Justice Involvement, Self‐Employment, and Barriers in Recent Public Policy," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 42(1), pages 11-34, January.
    15. Jacob A. Jordaan, 2023. "Firm‐level characteristics and the impact of COVID‐19: Examining the effects of foreign ownership and international trade," The World Economy, Wiley Blackwell, vol. 46(7), pages 1967-1998, July.
    16. Jose Ribamar Siqueira Junior & Enrique Horst & German Molina & Laura H. Gunn & Felipe Reinoso-Carvalho & Burcu Sezen & Nathalie Peña-García, 2023. "Branding in the eye of the storm: the impact of brand ethical behavior on brand commitment during the COVID-19 crisis in a South American country," Journal of Marketing Analytics, Palgrave Macmillan, vol. 11(1), pages 95-115, March.
    17. Rajapakshe, PSK & Gamage, SKN & Prasanna, RPIR & Jayasundara, JMSB & Ekanayake, EMS & Upulwehera, JMHM & Wijerathna, WAID & Abeyrathne, GAKNJ, 2020. "Social Capital, Performance of SMEs, and COVID-19 Pandemic," MPRA Paper 109530, University Library of Munich, Germany, revised 30 Aug 2020.
    18. Kiranpreet Kaur, 2021. "The Early Impact of COVID-19 on Textile Industry: An Empirical Analysis," Management and Labour Studies, XLRI Jamshedpur, School of Business Management & Human Resources, vol. 46(3), pages 235-247, August.
    19. Radeef Chundakkadan & Rajesh Raj Natarajan & Subash Sasidharan, 2022. "Small firms amidst COVID‐19: Financial constraints and role of government support," Economic Notes, Banca Monte dei Paschi di Siena SpA, vol. 51(3), November.
    20. Thomas Gries & Wim Naudé, 2021. "Extreme Events, Entrepreneurial Start-Ups, and Innovation: Theoretical Conjectures," Economics of Disasters and Climate Change, Springer, vol. 5(3), pages 329-353, October.

    More about this item

    Keywords

    Small and Medium-sized Enterprises; Covid-19; Oman;
    All these keywords.

    JEL classification:

    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eco:journ1:2024-01-12. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Ilhan Ozturk (email available below). General contact details of provider: http://www.econjournals.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.