Exploring the impact of COVID-19 on MSMEs in the Philippines: A case study
The outbreak of the 2019 novel coronavirus (COVID-19) has severely affected the Philippines and the global economy. Economic casualties of COVID-19 outbreak are predominantly micro, small, and medium-sized enterprises (MSMEs). This paper aims to assess the impact of COVID-19 on MSMEs engaged in manu...
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| Main Authors: | , |
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| Format: | text |
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Animo Repository
2020
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| Subjects: | |
| Online Access: | https://animorepository.dlsu.edu.ph/faculty_research/9535 |
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| Institution: | De La Salle University |
| Summary: | The outbreak of the 2019 novel coronavirus (COVID-19) has severely affected the Philippines and the global economy. Economic casualties of COVID-19 outbreak are predominantly micro, small, and medium-sized enterprises (MSMEs). This paper aims to assess the impact of COVID-19 on MSMEs engaged in manufacturing and outsourcing which represent prevalent industries in the Philippines. This study is exploratory in nature and will use an inductive holistic multiple case study design and thematic analysis as the method of analysis. The results reveal that most MSMEs represented in the study were negatively impacted in several ways among which were liquidity, value chain, workforce management, technological infrastructure, and government. All the MSMEs in the case study admittedly were not prepared for the impact and gravity of COVID-19. Some started pivoting from their core business to survive in the new normal. The results were consistent with other studies outside the country. While the Philippine Government enacted Republic Act No. 11494 or Bayahihan Act to aid MSMEs in recovering from the pandemic however, the MSMEs in the study did not take advantage of this aid citing various concerns. |
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