A Call to Action to Save Jordanian SMEs during the COVID-19 Pandemic, Prof. Khalil Al-Hyari
Prof. Khalil Al-Hyari
Faculty of Business
Al-Balqa Applied University
Purpose: The present research addresses the effects of the COVID-19 pandemic on small and medium-sized enterprises (SMEs) and describes the adopted innovative strategies taken by managers, and business owners of SMEs in Jordan in order to keep their businesses up and running.
Design/Methodology/Approach: Our analysis is based on a review of secondary data such as Jordanian government documents, the Central Bank of Jordan circulars, and data from the World Bank and World Health Organization (WHO). Also, the descriptive study design is based on 20 semi-structured interviews with managers, and business owners of SMEs in Jordan who have so far succeeded in surviving the pandemic, thereby allowing us to collect qualitative data.
Findings: The results have shown that Jordanian SMEs were severely impacted by issues related to the COVID-19 pandemic. This research highlights the surviving Jordanian SMEs use of innovative strategies such as cash management and the stimulation of the digitalization of their activities, among others. Also, the findings might help formulate strategic decisions that focus on SMEs recovery and regrowth by developing and implementing contingency strategies to meet any undesirable situations arising from the COVID-19 pandemic.
Research Limitations: This research is focused on what techniques are being used by Jordanian SMEs in getting through the COVID-19 crisis which includes policies regarding social distancing.
Originality/Value: Our findings show how Jordanian SMEs are continuing to persevere during this pandemic by modifying their business models to fluctuating environmental situations in minimal time. As a result, the recognized innovative strategies will potentially help aspiring Jordanian SMEs to persist within the COVID-19 pandemic.
Keywords: COVID-19; SMEs; Innovation Strategies; Jordan.
Citation: Al-Hyari, K. (2022): A Call to Action to Save Jordanian SMEs during the COVID-19 Pandemic. World Journal of Entrepreneurship, Management and Sustainable Development , Vol. 18, No. 2, pp. 163-183.