In December 2019, the global health crisis caused by the 2019 Coronavirus. The disease pandemic began in China: Professional Master In Business Administration Research Paper, UTM, Malaysia

School

Universiti Teknologi Malaysia (UTM)

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Assignment Type

Individual Assignment

Subject

Professional Master In Business Administration

Uploaded by Malaysia Assignment Help

Date

03/08/2023

In December 2019, the global health crisis caused by the 2019 Coronavirus
The disease pandemic began in China, leaving the world unaware and unprepared as well as causing significant anxiety in business activities, with serious adverse effects on small businesses. Small businesses are likely to be severely affected, as they tend to be more focused on sectors that have been directly affected by the COVID-19 response measure and are typically more credit-constrained than larger businesses. Importantly, small businesses make up the majority of companies in the economy and are responsible for a large share of employment.

Furthermore, the world economy has slowed as a result of the coronavirus outbreak, and most businesses are in instability. Because this illness has turned into a pandemic, it is expected that the struggle will endure for at least a year. Although the COVID-19 pandemic affects everyone, those who are paid on a daily basis and small and medium businesses (SME) are the most heavily impacted (Mahendhiran, 2020, as cited in Nurul Nadiah Ahmad et al., 2020).

According to a survey by Recommend. my, an online home services platform, 68.9% of local SMEs experienced a reduction in business of more than 50% within one week of the movement control order (MCO). The survey, which looked at SMEs’ opinions one week before and one week after the shutdown, revealed that nearly all local businesses have a negative outlook for the remainder of the year, with more than half having a negative view of their own businesses (Azril Annuar, 2020, as cited in Nurul Nadiah Ahmad et al., 2020).

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