The impact of the Covid-19 global pandemic upon the entrepreneurial financial resilience of SMEs

The Covid-19 global pandemic, which initially emerged during December 2019 in the Wuhan province of China, and rapidly spread across the whole world, has dramatically impacted the global economy in general and the SME sector in particular. Within months, a large proportion of smaller firms have either closed voluntarily or compulsorily, as a result of government imposed lockdowns and related physical distancing measures. Such closures have resulted in multiple and significant financial challenges to SME entrepreneurs, as well as their owner/managers, key employees and other workers. The purpose of this chapter is to critically examine the growing body of knowledge, which emerged over the 2020-2021 period, on entrepreneurial financial resilience in SMEs, across both industrially developed and developing nations. At this stage of the ongoing Covid-19 global pandemic, it becomes increasingly obvious that entrepreneurial financial resilience is the answer to the predominantly finance-related challenges and barriers faced by SMEs. In addition, this chapter provides a useful platform for SME survival during the current crisis, as well as a theoretical and practical basis for future development in a post-pandemic era of economic recovery and growth.