Open AccessThe impact of Covid-19 on economic aspects of business enterprises
Author(s) -
Albanë Gashi,
Iliriana Sopa,
Ymer Havolli
Publication year - 2021
Publication title -
management
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.196
H-Index - 15
eISSN - 1846-3363
pISSN - 1331-0194
DOI - 10.30924/mjcmi.26.si.4
Subject(s) - business , position (finance) , covid-19 , supply chain , product (mathematics) , pandemic , industrial organization , economic impact analysis , commerce , marketing , finance , economics , medicine , geometry , mathematics , disease , pathology , infectious disease (medical specialty) , microeconomics
Apart from causing a global pandemic, COVID-19 has also affected many industries worldwide, causing the economic position of businesses to weaken. This study provides an empirical assessment of the impact of COVID-19 on the economic position of micro, small, medium, and large business enterprises in Kosovo. While COVID-19 has been detrimental to many businesses, many of them have adapted to the possibilities, created by the new situation. Our findings indicate that almost all enterprises have reported a financial loss, and more than one-third have laid off employees. More than one-half of the enterprises have changed product delivery methods, and more than one-third have reorganized and changed their organizational structure. Meanwhile, around one-sixth of enterprises have changed their primary activity and have declared the need for new employees. Furthermore, surveyed enterprises have reported issues in retaining applicable contracts, supply of materials, trust in supply chain partners, and product placement, among others.