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BUSN20016 Research In Business

tag 0 Download 14 Pages / 3,404 Words tag 02-07-2021

Question:

In such a scenario, it becomes imperative to analyse and understand what went wrong for these SME’s and this study will fill that gap with empirical evidence of the losses/impacts suffered by the small firms during the period of recession. Also, the marketing strategies, innovative tactics and new concepts adopted by them in order to survive the Recession will be researched upon. This is done so that the future SME’s can take preventive measures and be proactive if at all Recession occurs in the future.

The overall aim of this project is to investigate the Recession-related effects on small firms, their responses to tackle that (i.e. their strategies) and the resulting impact on the performance of the firm. More specifically, this study aims to answer the following research questions:

RQ1: How did recession affect the SMEs?

RQ2: What were the impacts suffered by SMEs as a result of Recession?

RQ3: How did the SMEs respond to the Recession conditions?

RQ4: What are the factors that drive the SMEs performance under Recession conditions?

These questions will help answer the most important aim of this project: providing the best options/schemes that any SME can follow in order to survive economic downturns.

Under these circumstances, the following are the benefits of conducting this research proposal:

It will help those who wish to understand how Recession influences SME’s activities and performance. Also, they must also take into account the mechanisms through which Recession conditions exert an influence.

This research proposal will also help broaden the understanding of how Recessionconditions shape a SME’s business activity and performance.

SME managers can make use of the strategies presented in this research to fight Recession where in this research proposal will help them to identify the right focus areas during and post-recession. But, there is no guarantee of a single ‘bestmethod’ that can ensure a SME’s survival under economic downturns.

This proposal will be extremely useful to new ventures/start-ups as they canunderstand the causes, effects and impacts of Recession. This, in turn will help them be better prepared and pro-active in case Recession occurs in the future.

More difficult to downsize as they are already small.

Ø Individually less diversified in their economic activities.

Ø Have a weaker financial structure.

Ø Lower or no credit rating.

Ø Heavily dependent on credit and have lesser financing options.

Ø More vulnerable as they bear the brunt of the difficulties of the large firms.

Ø Narrower base of customers and product lines across which to spread risk.

Ø Less bargaining power with a variety of external actors that include customers, suppliers and financial providers.

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[Accessed 28 January 2023].

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