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Risks of Entrepreneurship amid the COVID-19 Crisis

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  • Tatiana N. Litvinova

    (Department of Management and Logistics in the Agro-Industrial Complex, Volgograd State Agrarian University, 400002 Volgograd, Russia)

Abstract

The COVID-19 crisis is unique in that it is caused by a pandemic and has created a special context for entrepreneurship in 2020. The motivation for this study is, firstly, to concretise and accurately quantify the impacts of the pandemic on entrepreneurship. Secondly, to clearly identify the specific business risks emerging or intensifying in the context of the pandemic; and thirdly, to distinguish between the impact of the economic crisis and the pandemic on entrepreneurship. This paper aims at studying the risks of entrepreneurship amid the COVID-19 pandemic and crisis. The paper’s sample consists of the top 10 countries that are leaders by the COVID-19 case rate in the world, starting 22 October 2020 up to 22 February 2022. The method of trend analysis is used to find and quantitatively measure the manifestations of the pandemic (case rate and mortality) on the entrepreneurial risks. Economic and mathematical modelling, with the help of correlation and regression analysis, showed that healthcare factors—the COVID-19 case rate and mortality—are not the key reasons for high entrepreneurial risks in 2020 and have a small influence on them. This paper’s contribution to the literature consists in specifying the cause-and-effect links between the COVID-19 pandemic and crisis and entrepreneurial risks. The theoretical significance of the results obtained consists in their proving the uniqueness of the COVID-19 crisis from the position of entrepreneurial risks. The paper’s originality consists in specifying the influence of the COVID-19 pandemic on entrepreneurial risks, explaining—thoroughly and in detail—the essence of these risks, and opening possibilities for highly-effective risk management.

Suggested Citation

  • Tatiana N. Litvinova, 2022. "Risks of Entrepreneurship amid the COVID-19 Crisis," Risks, MDPI, vol. 10(8), pages 1-26, August.
    • Handle: RePEc:gam:jrisks:v:10:y:2022:i:8:p:163-:d:885537
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    References listed on IDEAS

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    1. António Afonso & M. Carmen Blanco-Arana, 2022. "Financial and economic development in the context of the global 2008-09 financial crisis," International Economics, CEPII research center, issue 169, pages 30-42.
    2. Xie, Xuemei & Wu, Yonghui & Palacios-Marqués, Daniel & Ribeiro-Navarrete, Samuel, 2022. "Business networks and organizational resilience capacity in the digital age during COVID-19: A perspective utilizing organizational information processing theory," Technological Forecasting and Social Change, Elsevier, vol. 177(C).
    3. Alexey S. Kharlanov & Yuliya V. Bazhdanova & Teimuraz A. Kemkhashvili & Natalia G. Sapozhnikova, 2022. "The Case Experience of Integrating the SDGs into Corporate Strategies for Financial Risk Management Based on Social Responsibility (with the Example of Russian TNCs)," Risks, MDPI, vol. 10(1), pages 1-19, January.
    4. Jebran, Khalil & Chen, Shihua, 2022. "Corporate policies and outcomes during the COVID-19 crisis: Does managerial ability matter?," Pacific-Basin Finance Journal, Elsevier, vol. 73(C).
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    Cited by:

    1. Elena Puerto-Casasnovas & Jorge Galiana-Richart & Maria Paola Mastrantonio-Ramos & Francisco López-Muñoz & Alfredo Rocafort-Nicolau, 2023. "Determinants of Public Health Personnel Spending in Spain," IJERPH, MDPI, vol. 20(5), pages 1-14, February.
    2. Anastasiya A. Sozinova & Elena G. Popkova, 2023. "Dataset Analysis of Pandemic Risks and Risk Management Prospects Based on Management and Marketing in Conditions of COVID-19 Recession," Risks, MDPI, vol. 11(2), pages 1-18, February.

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