COVID-19 is an unusual scary virus and surprisingly affects the world economy. The condition demands that various countries in the world apply containment policies combined with various public health measures and make economic activities paralyzed, especially for Small and Medium-Sized Enterprises (SMEs). SMEs are considered to have potential innovation capabilities and can create new market opportunities, so governments should consider measures to relieve the burden of SMEs to stay afloat and keep growing during a pandemic. The purpose of this paper is to rethink the strategy of maintaining SMEs during a pandemic in the hopes that if such a situation occurs in the future then this strategy can be applied. This paper covers strategies from various countries that successfully retain SMEs during a pandemic. Qualitative methods with secondary data sources obtained from official government websites, media, economic bulletins, and international journals related to SMEs. This paper is expected to contribute to various countries to maintain SMEs, especially in countries whose economic growth has paralyzed the impact of the pandemic.

This study attempts to analyze and explore the impact of capital structure and firm size decisions on business risk mediated by profitability in the context of the pharmaceutical business in Indonesia. In conducting an empirical analysis study, we use panel data from eight companies in the Pharmaceutical Industry sector sourced from the company's annual reports for 2015-2020. The data analysis technique used the Structure Equation Modeling (SEM) method through the Partial Least Square (PLS) approach with WarpPLS 8.0 software. The results of this study found that the capital structure and size of the company have an effect on business risk. Profitability cannot moderate the effect of capital structure on business risk but can moderate the effect of firm size on business risk.