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In the midst of the COVID-19 pandemic: Perceived risks, management strategies and emerging opportunities for small and medium agri‐food enterprises in a developing country

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  • Hatab, Assem Abu
  • Sekyere, Enoch Owusu
  • Esmat, Abou-Rehab
  • Lagerkvist, Carl-Johan

Abstract

The Covid-19 pandemic has posed unprecedented challenges to small and medium agri‐food enterprises (SMAEs) in developing countries. However, research investigating what risks Covid-19 posed to these firms, how they responded, and what business opportunities emerged to SMAEs from the pandemic remains scanty. Drawing on a sample of 166 specialist SMAEs in Egypt, this study addressed these entwined questions by using multiple indicators and multiple causes (MIMIC) and mediation analysis. Our results point out that the Covid-19 pandemic exposed Egyptian SMAEs to complex and multidimensional risks, and caused profound effects on both upstream and downstream stages of their supply chains. In general, Egyptian SMAEs adopted a ‘wait-and-see’ approach to cope with such Covid-19 risks and impacts, which was attributed to their lack of sufficient financial resources to develop risk management strategies and formalize structures to deal with unexpected events. Interestingly, the results showed that several business opportunities emerged from pandemic; but SMAEs’ resource disadvantages constrained their capacity to seize and exploit these opportunities. Moreover, we found that mitigation strategies adopted by SMAEs present a mediating factor between perceived Covid-19 risks and perceived business opportunities. Overall, our findings call for a paradigm shift in relation to enterprise risk management in developing countries’ SMAEs toward more holistic frameworks to enhance their preparedness to future shocks, make mature operational and strategic management decisions, and exploit strategic opportunities.

Suggested Citation

  • Hatab, Assem Abu & Sekyere, Enoch Owusu & Esmat, Abou-Rehab & Lagerkvist, Carl-Johan, 2023. "In the midst of the COVID-19 pandemic: Perceived risks, management strategies and emerging opportunities for small and medium agri‐food enterprises in a developing country," 2023 Seventh AAAE/60th AEASA Conference, September 18-21, 2023, Durban, South Africa 365958, African Association of Agricultural Economists (AAAE).
    • Handle: RePEc:ags:aaae23:365958
    DOI: 10.22004/ag.econ.365958
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    References listed on IDEAS

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    1. Tala Abuhussein & Husam Barham & Saheer Al-Jaghoub, 2021. "The effects of COVID-19 on small and medium-sized enterprises: empirical evidence from Jordan," Journal of Enterprising Communities: People and Places in the Global Economy, Emerald Group Publishing Limited, vol. 17(2), pages 334-357, September.
    2. Endalew Terefe Alene, 2020. "Determinants that influence the performance of women entrepreneurs in micro and small enterprises in Ethiopia," Journal of Innovation and Entrepreneurship, Springer, vol. 9(1), pages 1-20, December.
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