Studying the Changes Forced by Covid-19 on Small and Medium Businesses and its supply chains in the UK

Antoni, Alfonz and Trail, Savannah Celestina (2022) Studying the Changes Forced by Covid-19 on Small and Medium Businesses and its supply chains in the UK. In: Studies on Information and Knowledge Processes in Supply Chain Management. Alma Mater . Információs Társadalomért Alapítvány, Budapest, pp. 59-97. ISBN 978-615-82082-4-6

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Abstract

All over the world, Covid-19 pandemic has affected the businesses operating in different industries and sectors. Some businesses have managed to deal with the impact while some have faced severe losses. In the UK, analysts have identified that SMEs play a major role in economic growth and development. The current pandemic situation has increased pressure for the businesses, which has led to a shift in the business models. The businesses are adopting new strategies and methods to deal with the challenges and complexities. The pressure of competing and retaining positions has affected different areas and aspects of the business. Along with these changes, it has been seen that the demands of consumers have also changed. The changes in consumer behaviour have led to influence on business approaches and strategies. The study focused on gathering primary data using a questionnaire. The analysis of the data using the regression model justified that the Covid-19 pressure has imposed changes on SMEs. However, the impact of consumer behaviour in this situation has not been proved. The study concludes that it is important for the business to respond quickly according to the market trends and demands.

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