The Impact of the COVID-19 Pandemic on Pakistan's Small and Medium-Sized Businesses for Economic Rehabilitation

Abstract

The coronavirus pandemic (COVID-19) has wreaked havoc on the world's economy and Pakistan's. The COVID-19 dilemma has inflicted small and medium businesses (SMEs). This study aimed to look at how the COVID-19 epidemic has affected these enterprises and propose policy suggestions to help small businesses avoid losses and overcome challenges. We used exploratory methods to perform exploratory research, including a thorough assessment of current professional literature, such as policy papers, research papers, and reports. We performed an online survey of 190 micro media outlets in Pakistan to back up the empirical findings. The data were assessed using descriptive statistics. The majority of the firms who took part in the poll had bad findings. They are dealing with various financial and supply chain issues and a drop in demand, sales, and earnings. Furthermore, more than 86 percent of individuals are unprepared for such events and have no procedures to deal with them. Moreover, more than two-thirds of the enterprises involved indicated that they would lose money if the blockage lasted longer than two months,. Our findings are in line with those of earlier studies. Many legislative proposals have been made based on the survey results to lessen the pandemic's detrimental influence on the media. Our policy ideas may not be enough to help very small businesses survive the current crisis, but they will assist them in doing so.