IMPACT OF COVID-19 ON SME’S AND OPPORTUNITIES FOR INDIA

Abstract

The outbreak of coronavirus illness (COVID-19) has severely impacted the global and Indian native economy. Major victims associated with the COVID-19 outbreak happen to be small, and medium-sized companies (SMEs). This post aims in order to assess the impact associated with COVID-19 outbreak on these types of firms and provide insurance plan recommendations to aid SMEs throughout reducing business losses and even survive with the crisis. Many of us adopted an exploratory method with comprehensively reviewing the particular available literature, including insurance plan documents, research papers, plus reports within the relevant industry. It indicates that many involving the enterprises have recently been severely affected and that they are facing several problems such as financial, present chain disruption, decrease within demand, reduction in revenue and profit, among other people. Besides, over 83% associated with enterprises were neither read nor have any strategy to handle such a new situation. Further, enterprises may not survive if typically, the lockdown lasts a lot more than 2 months.