The impact of Covid-19 on SMEs business and online business prospects

Abstract

The end of the XX century and the beginning of the XXI century were marked by three processes, the collapse of socialism, technologicalization (internization) and globalization of the world economic scene. Seemingly unconnected, but essentially connected phenomena, which conditioned each other and were a platform for the next process, these phenomena, especially the Internet and smartphones, led to a new era in all spheres of life, especially in the way of SMEs. The new economic functioning of the world was certainly contributed by the pandemic caused by Covid 19. The sudden appearance of the corona virus, in addition to having a great impact on public health, has caused serious economic consequences around the world. The paper will investigate the impact of Kovid-19 on the business of entrepreneurs, small and medium enterprises and the way in which companies responded to the problems caused by the pandemic. We will show how much the measures of support of the Government of Serbia to the economy had an impact on the business of the company and employment, as well as the importance of online sales in the conditions of full or partial locking.

Keywords

• smes
• covid-19
• measures of the government of serbia
• online business
• smartphones