PHILIPPINE MSMES AFTER THE COVID-19 PANDEMIC: A SYSTEMATIC REVIEW OF PANDEMIC IMPACTS AND COPING STRATEGIES

Abstract Views: 32 times
PDF Downloads: 24 times
Keywords: Business Administration, COVID-19, Enterprises and Development

Abstract

The COVID-19 pandemic negatively impacted the economy's flow in the majority of areas across the world. Reduced economic activity due to travel restrictions and lockdowns imposed to stop the virus's spread caused economic recessions in the pandemic-affected areas. MSMEs are the backbone of the Philippines, providing 99.5% of the nation’s business population and 65.10% of the nation's workforce. In addition to dealing with extraordinary economic and social challenges over the past two years, SME preparation for transitioning to a digital and sustainable economy has been necessary. The researcher will use a Systematic Literature Review to assess the transparency and consistency of the screening procedure and the approaches to coping applied by Philippine MSMEs in the context of the COVID-19 pandemic. The study will make use of three research guide questions. 1) What are the pandemic risks and their impact on Philippine MSMEs? 2) What coping strategies do Philippine MSMEs use to deal with risks and pandemic risk impacts? According to the review, human movement restrictions (Lockdowns), financial constraints/ revenue losses, operating difficulties, economic crisis and recession, and job losses are impacts of the pandemic on MSMEs.  Furthermore, the study listed four essential coping strategies: digital and technological adoption/adaptation, government financial support/packages, modification of business models, and implications for financial stability (loans). This study will contribute to ideas in innovation and technological advancement, business improvement, and wise cost distribution.

Downloads

Download data is not yet available.

Author Biography

Karl P. Campos, University of Southeastern University

Karl P. Campos, PhD, DBA is an Associate Professor in Business and Economics at the University of Southeastern Philippines located in Davao City, Philippines. He served before as the technology transfer officer and technology business incubator staff of the same university. His research interest focuses on business resiliency, entrepreneurial intention, and innovation readiness. Karl taught managerial economics, business venture, and innovation management in undergraduate and graduate programs.

References

Affinity Financial Services. (2023, July 22). Affinity Financial Services | SME Business Loan. Affinity Financial Services | SME Business Loan. https://afs.fund/
Argosino, F. (2021, November 10). COVID-19 response: A timeline of community quarantine, lockdowns, alert levels. Manila Bulletin. https://mb.com.ph/2021/11/09/covid-19-response-a-timeline-of-community-quarantine-lockdowns-alert-levels/
Baghel, D. (2022). Resilience of MSMEs During the Pandemic. In: Singh, A. (eds) International Handbook of Disaster Research. Springer, Singapore. https://doi.org/10.1007/978-981-16-8800-3_87-1
Bhatti, Anam & Akram, Hamza & Basit, Hafiz & Khan, Ahmed & Mahwish, Syeda & Naqvi, Raza & Bilal, Muhammad. (2020). E-commerce trends during COVID-19 Pandemic. International Journal of Future Generation Communication and Networking. 13. https://www.researchgate.net/publication/342736799_E-commerce_trends_during_COVID-19_Pandemic/citation/download
Collibra. (2023, November 17). The 6 data quality dimensions with examples. Collibra. https://www.collibra.com/us/en/blog/the-6-dimensions-of-data-quality
Cross, R. (2021, September 17). The secret to building resilience. Harvard Business Review. https://hbr.org/2021/01/the-secret-to-building-resilience
Cueto, L. J., Frisnedi, A. F. D., Collera, R. B., Batac, K. I. T., & Agaton, C. B. (2022). Digital Innovations in MSMEs during Economic Disruptions: Experiences and Challenges of Young Entrepreneurs. Administrative Sciences, 12(1), 8. https://doi.org/10.3390/admsci12010008
Davahli, M. R., Karwowski, W., Sönmez, S., & Apostolopoulos, Y. (2020). The hospitality industry in the face of the COVID-19 pandemic: Current topics and research methods. International Journal of Environmental Research and Public Health, 17(20), 7366. https://doi.org/10.3390/ijerph17207366
Department of Trade and Industry. (2023, October 6). MSME Statistics | Department of Trade and Industry Philippines. Department of Trade and Industry Philippines. https://www.dti.gov.ph/resources/msme-statistics/
Dofweb. (2022, December 7). IMF: PH’s post-pandemic economic recovery, driven by sustained reforms and sound macroeconomic policies - Department of Finance. Department of Finance. https://www.dof.gov.ph/imf-phs-post-pandemic-economic-recovery-driven-by-sustained-reforms-and-sound-macroeconomic-policies/
Dorado, J. C. G. (2020, June 15). Towards resilience: A practical guide for MSMEs | Business Unusual. PwC Philippines. Retrieved from https://www.pwc.com/ph/en/publications/ph-columns/business-unusual/2020/towards-resilience-a-practical-guide-for-msmes.html
Erdiaw‐Kwasie, M. O., Abunyewah, M., Yusif, S., & Arhin, P. (2023). Small and medium enterprises (SMEs) in a pandemic: A systematic review of pandemic risk impacts, coping strategies and resilience. Heliyon, 9(10), e20352. https://doi.org/10.1016/j.heliyon.2023.e20352
European Commission, Directorate-General for Internal Market, Industry, Entrepreneurship and SMEs, Muller, P., Ladher, R., Booth, J. (2022). Annual report on European SMEs 2021/2022 : SMEs and environmental sustainability, (K.Hope,edito) Publications Office of the European Union. https://data.europa.eu/doi/10.2826/451263
Flaminiano, JP, Francisco, JP, Caboverde, CE (2021, April 7). Road to recovery and resilience for Philippine MSMEs during the COVID-19 pandemic. Social Science Research Network. https://doi.org/10.2139/ssrn.3821248
Genberg, H. (2020). Digital transformation: Some implications for financial and macroeconomic stability. https://www.econstor.eu/handle/10419/238496
Lekhraj Rampal, MBBS, DrPH et al., (2020, November 6). Battling COVID-19 pandemic waves in six South-East. Retrieved from https://www.e-mjm.org/2020/v75n6/battling-COVID-19-pandemic.pdf
Li, K., Kim, D. J., Lang, K. R., Kauffman, R. J., & Naldi, M. (2020). How should we understand the digital economy in Asia? Critical assessment and research agenda. Electronic Commerce Research and Applications, 44, 101004. https://doi.org/10.1016/j.elerap.2020.101004
Lonardi, S., & Unterpertinger, Y. (2022). The Relevance of Intangible Cultural Heritage and Traditional Languages for the Tourism Experience: The Case of Ladin in South Tyrol. Sustainability, 14(5), 2729. Retrieved from https://www.researchgate.net/publication/358910263_The_Relevance_of_Intangible_Cultural_Heritage_and_Traditional_Languages_for_the_Tourism_Experience_The_Case_of_Ladin_in_South_Tyrol
Mathieu, E. (2020, March 5). Coronavirus pandemic (COVID-19). Retrieved from https://ourworldindata.org/policy-responses-covid
Mia, I. B. R. (2020). THE GIG ECONOMY: Overview and prospects for the Philippines. Animo Repository. https://animorepository.dlsu.edu.ph/res_cbrd/6/
Michaels, L. (2020, December). Rapid Response. Retrieved from Center for Financial Inclusion: https://content.centerforfinancialinclusion.org/wp-content/uploads/sites/2/2020/12/Rapid-Response-for-Social-Payments-During-COVID-19-Center-for-Financial-Inclusion-Policy-Brief.pdf
Mishi S, Tshabalala N, Anakpo G, Matekenya W. (2023). COVID-19 Experiences and Coping Strategies: The Case of Differently Sized Businesses in South Africa. Sustainability.; 15(10):8016. https://doi.org/10.3390/su15108016
Nicola, M., Alsafi, Z., Sohrabi, C., Kerwan, A., Al-Jabir, A., Iosifidis, C., Agha, M., & Agha, R. (2020). The socio-economic implications of the coronavirus pandemic (COVID-19): A review. International Journal of Surgery, 78, 185–193. https://doi.org/10.1016/j.ijsu.2020.04.018
Olave, MBA. (2022). Determinants of Business Resilience During Disasters: Inputs for the Development of a Business Continuity Mobile Application. International Journal of Research Publications. 111. 10.47119/IJRP10011111020224075.
Pedroso, J. E. P., & Palencia, H. (2022). Preservice teachers’ Insights on Online Shopping during the COVID-19 Pandemic. ResearchGate. https://www.researchgate.net/publication/359788193_Preservice_teachers%27_Insights_on_Online_Shopping_during_the_COVID-19_Pandemic
Rogers, K. (2024, February 14). Pandemic | Description, History, preparedness, & Facts. Retrieved from https://www.britannica.com/science/pandemic
Sarkis‐Onofre, R., Catalá-López, F., Aromataris, E., & Lockwood, C. (2021). How to properly use the PRISMA Statement. Systematic Reviews, 10(1). https://doi.org/10.1186/s13643-021-01671-z
United Nations Philippines (2020, October 2) MSME Sector is key to COVID-19 inclusive recovery for PH. The Philippines. https://philippines.un.org/en/93680-msme-sector-key-covid-19-inclusive-recovery-ph
World Bank. (2020, June 8). The Global Economic Outlook During the COVID-19 Pandemic: A Changed World. Retrieved from The World Bank: https://www.worldbank.org/en/news/feature/2020/06/08/the-global-economic-outlook-during-the-covid-19-pandemic-a-changed-world
Published
2024-05-04
How to Cite
Labiaga, J. F., & Karl P. Campos. (2024). PHILIPPINE MSMES AFTER THE COVID-19 PANDEMIC: A SYSTEMATIC REVIEW OF PANDEMIC IMPACTS AND COPING STRATEGIES. Ekonomi Dan Bisnis: Berkala Publikasi Gagasan Konseptual, Hasil Penelitian, Kajian, Dan Terapan Teori, 28(1), 13 - 22. https://doi.org/10.24123/jeb.v28i1.6357
Share |