Entrepreneurial resilience during the Covid-19 pandemic: navigating survival, continuity and growth

Abstract

Purpose This study aims to explore how small and medium-sized enterprises (SMEs) in Indonesia display resilience in response to the Covid-19 pandemic. Design/methodology/approach A qualitative research design was used, which involved semi-structured interviews on five creative industry-based businesses in Yogyakarta, Indonesia. A narrative inquiry approach was used to obtain an in-depth understanding of SMEs’ resilience. The data obtained were analyzed using thematic analysis via MaxQDA 2020. Findings The Covid-19 pandemic triggered the emergence of both new opportunities and new constraints for SMEs. These, in turn, significantly interrupt their business model. SMEs are found to navigate survival, continuity and growth by drawing from their resourcefulness and firm-level strategies to cope with the new opportunities and constraints. Research limitations/implications This study was conducted qualitatively based on five SMEs in the creative industry in Indonesia. This limits the ability to compare the findings across different economic sectors. Practical implications SMEs facing emergent constraints may need to find new ways to recombine existing resources and simultaneously seek to innovate their business model. Business owners and entrepreneurs should adopt a positive mindset such as optimism, perseverance and efficacy, to cope with adversity. Growth-oriented SMEs may make use of a competitive mindset such as flexibility, speed and innovation, to spot and exploit opportunities that emerge from the crisis. Social implications SMEs’ resilience should be understood not only in terms of economic survival and continuity but, more deeply, about their social contribution to the localities where they operate. Originality/value This study illustrates the process of how adaptive resilience is adapted and executed by SMEs. It also contributes to entrepreneurial resilience and resourcefulness literature by explaining how entrepreneurs anticipate, respond to and leverage from the crisis.

Perceived Entrepreneurial Stress and Entrepreneurial Resilience; The Mediating Role of the Well-Being of Entrepreneurs and Moderating Role Perceived Online Social Support

“…There has been increasing attention towards entrepreneurial studies, especially during the pandemic and the call for scholars to look more into how digital transformation has played a part during the pandemic period [76]. During these unprecedented times, researchers need to take a look into what drives entrepreneurial resilience [77].…”

Resiliensi Bisnis UMKM Produk Olahan Ikan selama Masa Pandemi: Peluang dan Kendala

“…Harapan perusahaan untuk melakukan ekspor produk berbahan ikan belum dapat terpenuhi, karena persyaratan dalam kuota persediaan produk dalam pengiriman belum terpenuhi dan juga persyaratan administrasi belum terlengkapi oleh UD.Barokah. Oleh karena itu, pandemi Covid'19 telah menggerakan kemunculan peluang dan kendala baru dalam bisnis, di mana setiap perusahaan mendayagunakan sumber daya dan strategi untuk mengatasi peluang dan kendala baru tersebut (Purnomo et al, 2021).…”

Local Food Enjoyment and Customer Delight: Keys to Revisit Intention

“…Amid the COVID-19 pandemic that devastated Indonesia (Purnomo et al, 2021;Syahrivar, 2021), the local government must improve local community resilience through several alternative tourism strategies, such as culinary tourism (Horng & Tsai, 2010). Culinary tourism, which introduces customers to local and traditional foods, may increase customer delight, resulting in a place attachment, such as a desire to return.…”

“…With the occasional lockdown and closure of shopping places, countries that rely heavily on incomes from tourism are struggling to recover. Yogyakarta, Indonesia, was one of the hardest hit by the pandemic, as evidenced by the decline in tourist numbers (Purnomo et al, 2021). Immediate strategies are needed to identify the key factors or elements in tourist revisit intention.…”

“…Yogyakarta is rich in cultural heritages, such as arts and architecture, and the city is relatively preserved (Rianingrum, Sachari, & Widodo, 2014). Another distinct aspect of Yogyakarta is its unique and tasty local foods (Yusuf, 2017;Purnomo et al, 2021), such as Gudek, Kipo, and Geplak. A previous study by Arsil, Li and Bruwer (2014) who took their samples, among others, in Yogyakarta, suggests that "local" foods were perceived to be cheaper but better in terms of quality compared to "national" foods and "imported" foods.…”