Open AccessFinancial Impact of the Corona Virus Pandemic from January to June the Case of Blantyre Small and Medium Entrepriises
Author(s) -
Patricia Singini
Publication year - 2020
Language(s) - English
DOI - 10.47363/jmcn/2020(1)105
Subject(s) - profitability index , business , finance , small and medium sized enterprises , maturity (psychological) , profit (economics) , recession , business cycle , economics , psychology , developmental psychology , keynesian economics , microeconomics
Each and every business concern must maintain adequate amount of finance for their smooth running of the business concern and also maintain the business carefully to achieve the goal of the business concern. The business goal can be achieved only with the help of effective management of finance. We can’t neglect the importance of finance at any time at and at any situation. Financial management is very important in the field of increasing the wealth of the investors and the business concern. Ultimate aim of any business concern will achieve the maximum profit and higher profitability leads to maximize the wealth of the investors as well as the nation. There is higher rate of business stagnation of businesses due to its product cycle being affected due to economic downturn, mostly we expect business to grow from introduction, growth ,maturity then if not well managed may decline, The other stagnation has been created because of challenges of globalizations, the emergency of COVID 19 which started in Wuhan migrated to the whole world through those involved in international business. Qualitative research was done to explore the financial impacts of covid 19 from January to june 2020,the case of Blantyre city persperctive,Blantyre was chosen because it is a commercial city has all people of Malawian ethnic background and more of International business it gave a true reflection of Malawi small and medium enterprises stand. Quantitative data was collected using questionnaires, interviews, media and observations were also used to achieve the objectives. Managers of small and medium enterprises were interviewed to represent the organization to give a broader picture of the organization ,15 SME’s and 10 entrepreneurs were interviewed to have a picture on the other side of an individual. A deductive approach was used ,theories of international business and income inequality were used to assist in the finding out the problem.