The impact of COVID-19 crisis on Hungarian small- and medium-sized enterprises

Abstract

The main purpose of this study is to determine the impact of coronavirus (COVID-19) on small- and medium-sized businesses in Hungary. To test the hypothesis, the data of the questionnaire survey was used to assess the effects of the COVID-19 crisis among Hungarian small and medium-sized enterprises. After preliminary processing of the data, questionnaire data from 318 companies were used for further analysis. During the research, it was confirmed that the coronavirus had a significant effect on the daily operation of Hungarian SMEs and on the changes in the number of employees. The study provides a clear insight into the early impact of the COVID-19 outbreak on Hungarian SMEs, and it assesses the measures taken by Hungarian SMEs during the crisis. This study is novel and up-to-date, and thus can help better understanding of the economic issues of recent months and serve as a basis for further research.