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Assessing the Effects and Policy Interventions Amidst COVID-19 Crisis: Focus on Georgian SMES

In: Eurasian Business and Economics Perspectives

Author

Listed:
  • Ketevan Rizhamadze

    (Turiba University)

  • Anna Ābeltina

    (EKA University of Applied Science)

Abstract

This article explores the manner in which the COVID-19 crisis has affected SMEs in Georgia. We posit that SMEs are highly susceptible to such economic shock and the major victims of the COVID-19 outbreak are SMEs. The article explores this conjecture by scrutinizing real-time data and reviewing the available literature, official reports and policies. Throughout the research, an exploratory methodology was adopted and empirical evidence was derived from collecting the information from Georgian SMEs via a focus group and online survey. The data reported here appear to support the assumption that SMEs are most acutely affected, and revenues have dropped drastically since the outbreak of the COVID-19 pandemic. The evidence from this study suggests that industries that rely highly on external trade were the most affected by the COVID-19 crisis. These enterprises are facing the greatest obstacles obtaining finance, logistical challenges, demand disruptions, reduction in sales and profit. In the article, we argue that SMEs will face various hindrances in the long run, and policy interventions should be sensitive to the different types of SMEs. Policymakers can apply these real-time data to their strategic policy interventions to support the organizations that are most affected by the crisis.

Suggested Citation

  • Ketevan Rizhamadze & Anna Ābeltina, 2022. "Assessing the Effects and Policy Interventions Amidst COVID-19 Crisis: Focus on Georgian SMES," Eurasian Studies in Business and Economics, in: Mehmet Huseyin Bilgin & Hakan Danis & Ender Demir & Ghulam Mustafa (ed.), Eurasian Business and Economics Perspectives, pages 169-189, Springer.
    • Handle: RePEc:spr:eurchp:978-3-030-94672-2_11
    DOI: 10.1007/978-3-030-94672-2_11
    as

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