Resilience Interpretations of Small and Medium-sized Enterprises and its Analytical Approaches - Literature Review

Abstract

In this study, we review different approaches of resilience in the case of small and medium-sized enterprises (SMEs) that face ever-growing challenges due to the risks arising from the interconnected and globalised environment in which they are embedded. The field of economic resilience is of great interest nowadays due to effects caused by the current Covid-19 pandemic. There are already several thorough concepts elaborated on estimating SME resilience, which have valuable ideas and different aspects incorporated relying on mainly questionnaire survey data. We will list up general features of SMEs that make them vulnerable and possible measures from literature that are highly recommended in order to reduce their exposure to negative consequences to unexpected situations.