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Small business in a time of crisis: A five stage model of business grief

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  • Stephens, Simon
  • McLaughlin, Christopher
  • McLaughlin, Katrina

Abstract

In this paper we examine the implications that a crisis such as that created by COVID-19 has for the psychological well-being of small business owners. We use the psychological literature on grief, specifically, the Kübler-Ross (1969) Five Stage Model of Grief to examine the impacts. Our review of the literature indicates that although there are critics of a stage based approach there are also advocates for the use of stages to help us frame and understand the manifestations of grief. Data was collected from forty small business owners based in Ireland. Data was collected five times over a period of six months (March–September 2020). The outcome is a five-stage model of business grief. The findings provide insights into the emotional relationship between an owner and their small business. We propose that a business closure can cause small business owners to grieve in a manner that aligns with a series of stages and that these stages can be modelled and illustrated.

Suggested Citation

  • Stephens, Simon & McLaughlin, Christopher & McLaughlin, Katrina, 2021. "Small business in a time of crisis: A five stage model of business grief," Journal of Business Venturing Insights, Elsevier, vol. 16(C).
    • Handle: RePEc:eee:jobuve:v:16:y:2021:i:c:s2352673421000603
    DOI: 10.1016/j.jbvi.2021.e00282
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    References listed on IDEAS

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    Cited by:

    1. Brink, Siegrun & Weicht, Rebecca & Levering, Britta & Icks, Annette, 2022. "Unternehmertum während der Corona-Pandemie: Individuelle Resilienz," IfM-Materialien 293, Institut für Mittelstandsforschung (IfM) Bonn.
    2. Stephens Simon & McLaughlin Christopher & McLaughlin Katrina, 2021. "Entrepreneurs responding to the COVID-19 crisis: evidence from Ireland," The Irish Journal of Management, Sciendo, vol. 40(2), pages 143-156, December.
    3. Kamaha Njiwa, Marinette & Atif, Muhammad & Arshad, Muhammad & Mirza, Nawazish, 2023. "The impact of female dominance on business resilience: A technology adoption perspective," Journal of Business Research, Elsevier, vol. 161(C).

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