Preprint Article Version 1 Preserved in Portico This version is not peer-reviewed

Syrian SMEs in Times of Covid-19 Pandemic: Challenges, Adaptation and Policy Measures

Version 1 : Received: 21 January 2023 / Approved: 26 January 2023 / Online: 26 January 2023 (03:13:38 CET)

A peer-reviewed article of this Preprint also exists.

Akkad, B.A.; Mouselli, S. Syrian SMEs in Times of COVID-19 Pandemic: Challenges, Adaptation, and Policy Measures. J. Risk Financial Manag. 2023, 16, 142. Akkad, B.A.; Mouselli, S. Syrian SMEs in Times of COVID-19 Pandemic: Challenges, Adaptation, and Policy Measures. J. Risk Financial Manag. 2023, 16, 142.

Abstract

SMEs constitute the backbone of the Syrian economy which have suffered manifold challenges due to the continuous Syrian war. Covid-19 added further pressures on Syrian SMEs and force them to take certain adaptation strategies to survive. This paper aims to investigate the main challenges that face Syrian SMEs during the pandemic and illustrate how they respond to adversities emerged from governmental intervention to control the spread of the virus. It also discusses the measures initiated by the government to support SMEs during the pandemic. Through interviewing persons from the Syrian SMEs ecosystem, we find that high interest rates on SMEs loans, decline on demand as well as high inflation represent the main challenges. SMEs respond to these challenges by marketing products online, stock procurement, and strengthen connections with stakeholders. We recommend the Syrian authorities reduce lending rates and increase loan size available to SMEs to help them overcome the pandemic adversities. Moreover, SMEs will immensely benefit from training on digital tools to enhance their expansion and survival opportunities. Furthermore, bazars should be organized around the year to give SMEs the opportunity to gain continuous access to markets. In addition, incubation services should be revised, particularly, to SMEs with great potential to grow to create the suitable environment for them to scale and flourish.

Keywords

Adaptation, Challenges, Covid-19, Policy measures, SMEs, Syria

Subject

Business, Economics and Management, Finance

Comments (0)

We encourage comments and feedback from a broad range of readers. See criteria for comments and our Diversity statement.

Leave a public comment
Send a private comment to the author(s)
* All users must log in before leaving a comment
Views 0
Downloads 0
Comments 0
Metrics 0


×
Alerts
Notify me about updates to this article or when a peer-reviewed version is published.
We use cookies on our website to ensure you get the best experience.
Read more about our cookies here.