Strategies for Entrepreneurial Innovation and Sustainability

Abstract

SMEs contribute up to 60% of total employment and up to 40% of GDP in emerging economies. These SMEs recently faced, due to COVID-19 pandemic, chaotic circumstances resulting in business shut down, loss of man-hours, halt of machinery and material movement by which they lost their economy. Quick solutions to address the challenges were out of view. Moreover, making major changes swiftly in the set business system was impractical and probably impossible. Getting normalcy back on track delayed extensively owing to the unavailability of vaccines. Ignorance in terms of the remedy made the businesspersons helpless to bear with the situation. Literature exposed that the pandemic situation paralyzed the business functions entirely. Obviously, to safeguard the SMEs from such incidences in the future, this study became essential in understanding remedial, innovative, and sustainable strategies.