Journal of Legal, Ethical and Regulatory Issues (Print ISSN: 1544-0036; Online ISSN: 1544-0044)


Review on the Impact of Covid-19 on Entrepreneurship and Risk Management

Author(s): Saad Darwish & Anjali Gomes

This paper administers the analysis of impacts of the Covid 19 on Entrepreneurship and Risk Management. Even though the entrepreneurship literature emphasizes opportunity recognition, but how entrepreneurs evaluate opportunities during Covid 19 is not always clear. This review uses reasoning analogy to examine Covid 19 impact on SMEs and Entrepreneurship and the significance of the role of Risk Management to overcome the adverse effects faced by the SMEs and Entrepreneurs. The researchers have made an extensive contribution to the literature on the contextual aspect of entrepreneurship and evaluated the effects of economic downturn and the role of managing risk on entrepreneurial efforts. The results exemplify that the developments related to the economy; balance the relationship between economic downturn and opportunity-based entrepreneurial attempts lowering the possibility of the latter. We can observe that the pandemic position and associated risks are very much alike in all the SMEs and enterprises. They are frequently vulnerable to severe competition in the various enterprises, with the tremendous growth in energy prices and profit decline. The comprehensive outcomes of the research show the significance and the demand to administer the crucial threats encompassing the SME sector.

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