Effects of the Coronavirus Crisis on Hungarian Small and Medium-Sized Enterprises

Karácsony, Péter (2020) Effects of the Coronavirus Crisis on Hungarian Small and Medium-Sized Enterprises. POLGÁRI SZEMLE: GAZDASÁGI ÉS TÁRSADALMI FOLYÓIRAT, 16 (Spec.). pp. 434-444. ISSN 1786-6553

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Abstract

Today’s coronavirus crisis has affected not only public health but also the economy. The coronavirus has led to a significant increase in unemployment and a transformation in employment. Each government tries to save its own economy in different ways, primarily by launching programmes that help companies maintain employment. The crisis has also generated spill-over effects throughout the supply chain. Available studies on the economic effects of the coronavirus are currently limited. Based on empirical research, this study endeavours to show the impacts of the coronavirus on the Hungarian economy. Based on the findings, it can be said that as a result of the coronavirus, Hungarian small and medium-sized enterprises are struggling hard to overcome financial difficulties and declining demand for services/products, and consequently government subsidies and measures are vital for them.

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