Micro, small, and medium-sized enterprises (MSMEs) and their employees have been particularly hard hit by the recession because of the COVID-19 pandemic. This study assesses the level of vulnerability and business resilience of two hundred seven (207) Village (Barangay) Micro Business Enterprises (BMBEs) in Bacolod City, Negros Occidental, Philippines. Likewise, it identifies the mechanisms, opportunities, and challenges of BMBEs in the new normal. Respondents of this study are from the wholesale and retail trade and food and beverage service sectors in Bacolod City who were selected using stratified random sampling. The descriptive-comparative research was used in the study and utilized both researcher-made and adapted questionnaires to gather data. Results showed that BMBEs had a moderate level of vulnerability and a high level of business resilience during the COVID-19 crisis. In terms of mechanisms and challenges, most BMBEs adopt technology for promotion purposes and have experienced insufficiency of cash flows to maintain operations. It can be concluded that the businesses were highly resilient during the COVID-19 crisis, as there is only a moderate extent of vulnerabilities from the BMBEs' internal operations. Businesses were able to absorb both internal and external shocks by adjusting to change and seizing opportunities
Author
Abstract
Suggested Citation
DOI: 10.47577/business.v3i.9002
Download full text from publisher
References listed on IDEAS
- 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.
- Aurora G. Hidalgo & Viory Yvonne T. Janeo & Winston Conrad B. Padojinog & Cid L. Terosa & Peter L. U. & Josef T. Yap, 2021. "The COVID-19 outbreak and its impact on business establishments: a study on challenges and strategic approaches," Philippine Review of Economics, University of the Philippines School of Economics and Philippine Economic Society, vol. 58(1 and 2), pages 185-213, June and .
- Sari, Puteri Andika & Sari, Wiendy Puspita & Rinaldo, Dito, 2022. "Business performance during the COVID-19 crisis: a major contribution of entrepreneurial resilience," Studia z Polityki Publicznej / Public Policy Studies, Warsaw School of Economics, vol. 9(2), pages 1-20, August.
- Michela Piccarozzi & Cecilia Silvestri & Patrizio Morganti, 2021. "COVID-19 in Management Studies: A Systematic Literature Review," Sustainability, MDPI, vol. 13(7), pages 1-28, March.
- Jianli Gao & Abu Bakkar Siddik & Sayyed Khawar Abbas & Muhammad Hamayun & Mohammad Masukujjaman & Syed Shah Alam, 2023. "Impact of E-Commerce and Digital Marketing Adoption on the Financial and Sustainability Performance of MSMEs during the COVID-19 Pandemic: An Empirical Study," Sustainability, MDPI, vol. 15(2), pages 1-21, January.
- Conceição Gomes & Cátia Malheiros & Filipa Campos & Luís Lima Santos, 2022. "COVID-19’s Impact on the Restaurant Industry," Sustainability, MDPI, vol. 14(18), pages 1-21, September.
- World Bank, 2021. "Impacts of COVID-19 on Firms in the Philippines," World Bank Publications - Reports 35430, The World Bank Group.
- 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.
- Elias Hadjielias & Michael Christofi & Shlomo Tarba, 2022. "Contextualizing small business resilience during the COVID-19 pandemic: evidence from small business owner-managers," Small Business Economics, Springer, vol. 59(4), pages 1351-1380, December.
- Aldaba, Rafaelita M. & Aldaba, Fernando T., 2014. "Toward Competitive and Innovative ASEAN SMEs: Philippine SME Policy Index 2012," Discussion Papers DP 2014-30, Philippine Institute for Development Studies.
- Pantano, Eleonora & Pizzi, Gabriele & Scarpi, Daniele & Dennis, Charles, 2020. "Competing during a pandemic? Retailers’ ups and downs during the COVID-19 outbreak," Journal of Business Research, Elsevier, vol. 116(C), pages 209-213.
- Eggers, Fabian, 2020. "Masters of disasters? Challenges and opportunities for SMEs in times of crisis," Journal of Business Research, Elsevier, vol. 116(C), pages 199-208.
- Stephanie Duchek, 2020. "Organizational resilience: a capability-based conceptualization," Business Research, Springer;German Academic Association for Business Research, vol. 13(1), pages 215-246, April.
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.- Bürgel, Tobias R. & Hiebl, Martin R.W. & Pielsticker, David I., 2023. "Digitalization and entrepreneurial firms' resilience to pandemic crises: Evidence from COVID-19 and the German Mittelstand," Technological Forecasting and Social Change, Elsevier, vol. 186(PA).
- Ali Zackery & Joseph Amankwah-Amoah & Zahra Heidari Darani & Shiva Ghasemi, 2022. "COVID-19 Research in Business and Management: A Review and Future Research Agenda," Sustainability, MDPI, vol. 14(16), pages 1-32, August.
- Anabela Santos & Karel Haegeman & Pietro Moncada-Paternó-Castello, 2021. "The impact of Covid-19 and of the earlier crisis on firms’ innovation and growth: a comparative analysis," JRC Working Papers on Territorial Modelling and Analysis 2021-03, Joint Research Centre.
- Bhardwaj, Shikha & Rana, Gunjan A & Behl, Abhishek & Gallego de Caceres, Santiago Juan, 2023. "Exploring the boundaries of Neuromarketing through systematic investigation," Journal of Business Research, Elsevier, vol. 154(C).
- Gagan Deep Sharma & Sascha Kraus & Amogh Talan & Mrinalini Srivastava & Christina Theodoraki, 2024. "Navigating the storm: the SME way of tackling the pandemic crisis," Small Business Economics, Springer, vol. 63(1), pages 221-241, June.
- Karen L. Orengo-Serra & María Sánchez-Jauregui, 2021. "Coping with earthquakes and COVID-19: A perspective of customer relationship management," Estudios Gerenciales, Universidad Icesi, vol. 37(159), pages 318-331, June.
- Marina Sheresheva & Marina Efremova & Lilia Valitova & Anna Polukhina & Georgy Laptev, 2021. "Russian Tourism Enterprises’ Marketing Innovations to Meet the COVID-19 Challenges," Sustainability, MDPI, vol. 13(7), pages 1-17, March.
- Shahin Vaqif Bayramov & Viktoriya Kookueva & Alexander Kolobov & Liudmila Tsvetkova, 2023. "Innovative Business Models in the Context of Organizational Culture Transformation in the COVID-19 Pandemic," Public Organization Review, Springer, vol. 23(1), pages 365-387, March.
- Carracedo, Patricia & Puertas, Rosa & Marti, Luisa, 2021. "Research lines on the impact of the COVID-19 pandemic on business. A text mining analysis," Journal of Business Research, Elsevier, vol. 132(C), pages 586-593.
- Magdalena Olczyk & Marta Ewa Kuc-Czarnecka, 2021. "Determinants of COVID-19 Impact on the Private Sector: A Multi-Country Analysis Based on Survey Data," Energies, MDPI, vol. 14(14), pages 1-17, July.
- Rafał Nagaj & Brigita Žuromskaitė, 2021. "Tourism in the Era of Covid-19 and Its Impact on the Environment," Energies, MDPI, vol. 14(7), pages 1-18, April.
- Tapio Riepponen & Mikko Moilanen & Jaakko Simonen, 2023. "Themes of resilience in the economics literature: A topic modeling approach," Regional Science Policy & Practice, Wiley Blackwell, vol. 15(2), pages 326-356, April.
- Jurek, Kinga, 2023. "Wpływ Szoków Ekonomicznych I Środowiskowych Na Polskie Gospodarstwa Rolne W Latach 2010-2019," Roczniki (Annals), Polish Association of Agricultural Economists and Agribusiness - Stowarzyszenie Ekonomistow Rolnictwa e Agrobiznesu (SERiA), vol. 2023(4).
- 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.
- Ioannis Giotopoulos & Alexander S. Kritikos & Aggelos Tsakanikas, 2022. "A Lasting Crisis Affects R&D Decisions of Smaller Firms: The Greek Experience," Discussion Papers of DIW Berlin 2009, DIW Berlin, German Institute for Economic Research.
- Giotopoulos, Ioannis & Kritikos, Alexander S. & Tsakanikas, Aggelos, 2022. "A Lasting Crisis affects R&D decisions of smaller firms: the Greek experience," GLO Discussion Paper Series 1122, Global Labor Organization (GLO).
- Ioannis Giotopoulos & Alexander S. Kritikos & Aggelos Tsakanikas, 2022. "A Lasting Crisis affects R&D decisions of smaller firms: the Greek experience," CEPA Discussion Papers 49, Center for Economic Policy Analysis.
- Quan-Hoang Vuong & Huyen Thanh T. Nguyen & Thanh-Hang Pham & Manh-Toan Ho & Minh-Hoang Nguyen, 2021. "Assessing the ideological homogeneity in entrepreneurial finance research by highly cited publications," Palgrave Communications, Palgrave Macmillan, vol. 8(1), pages 1-11, December.
- Norbert Bajkó & Zsolt Fülöp & Kinga Nagyné Pércsi, 2022. "Changes in the Innovation- and Marketing-Habits of Family SMEs in the Foodstuffs Industry, Caused by the Coronavirus Pandemic in Hungary," Sustainability, MDPI, vol. 14(5), pages 1-17, March.
- Wang, Siqi & Cheah, Jun-Hwa & Lim, Xin-Jean & Leong, Yee Choy & Choo, Wei Chong, 2022. "Thanks COVID-19, I'll reconsider my purchase: Can fear appeal reduce online shopping cart abandonment?," Journal of Retailing and Consumer Services, Elsevier, vol. 64(C).
- Tomasz Antczak & Bartosz Skorupa & Mikolaj Szurlej & Rafal Weron & Jacek Zabawa, 2021. "Simulation modeling of epidemic risk in supermarkets: Investigating the impact of social distancing and checkout zone design," WORking papers in Management Science (WORMS) WORMS/21/05, Department of Operations Research and Business Intelligence, Wroclaw University of Science and Technology.
- Antonio Farías & Christian A. Cancino, 2021. "Digital Transformation in the Chilean Lodging Sector: Opportunities for Sustainable Businesses," Sustainability, MDPI, vol. 13(14), pages 1-17, July.
- 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.
More about this item
JEL classification:
- R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
- Z0 - Other Special Topics - - General
Statistics
Access and download statisticsCorrections
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:tec:busine:v:3:y:2023:i:1:p:104-125. 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: Anna Maria Golita (email available below). General contact details of provider: .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.