COVID-19 Pandemic and opportunities for digitalisation of SMEs

• Main Authors: KUSNADI, Yuanto, PAN, Gary
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2021
• Subjects: Covid-19; pandemic; e-commerce; digitalisation; Singpaore; Accounting; Asian Studies; E-Commerce; Technology and Innovation
• Online Access: https://ink.library.smu.edu.sg/pers/554; https://ink.library.smu.edu.sg/cgi/viewcontent.cgi?article=1563&context=pers
• Institution: Singapore Management University

The Covid-19 pandemic has brought about disruptions in all sectors of economy. With lockdown being implemented in most of the countries around the world, it has necessitated changes in the business models of SMEs. A glaring area of business opportunity focuses on online business. For instance, retailers who do not yet have an online presence or have not been paying much attention to conducting sales online were caught off-guard during the circuit breaker period which has resulted in decreased footfall and plummeting sales in most physical stores. Therefore, having an online retail presence has become critical for businesses, as they can no longer continue business as usual.