TY - JOUR
T1 - The impact of Covid-19 on Scottish small and medium-sized enterprises (SMEs)
T2 - prognosis and policy prescription
AU - Brown, Ross
A2 - Roy, Graeme
N1 - This article was published alongside the Fraser of Allander Economic Commentary vol.44 no.2 2020.
PY - 2020/6/25
Y1 - 2020/6/25
N2 - This paper highlights the impact of the Covid-19 pandemic crisis on Scottish small and medium-sized enterprises (SMEs). Covid-19 has created an enormous systemic economic shock, potentially surpassing the one created by the global financial crisis (GFC) in 2007/08 (Baker et al, 2020; Brown and Rocha, 2020). Such is the uniqueness of the current crisis some label it a metaphorical “black swan event” for entrepreneurship, as it encompasses virtually every sector, every type of business and every country spanning the global economy (Kuckertz et al, 2020). Indeed, empirical work from around the world shows that as many as half of all small firms have temporarily ceased trading since the lockdown and as many as 60% of SMEs are at risk of running out of their cash reserves (Bartik et al, 2020; Cowling et al, 2020; Giupponi and Landais, 2020).
AB - This paper highlights the impact of the Covid-19 pandemic crisis on Scottish small and medium-sized enterprises (SMEs). Covid-19 has created an enormous systemic economic shock, potentially surpassing the one created by the global financial crisis (GFC) in 2007/08 (Baker et al, 2020; Brown and Rocha, 2020). Such is the uniqueness of the current crisis some label it a metaphorical “black swan event” for entrepreneurship, as it encompasses virtually every sector, every type of business and every country spanning the global economy (Kuckertz et al, 2020). Indeed, empirical work from around the world shows that as many as half of all small firms have temporarily ceased trading since the lockdown and as many as 60% of SMEs are at risk of running out of their cash reserves (Bartik et al, 2020; Cowling et al, 2020; Giupponi and Landais, 2020).
KW - Scottish SMEs
KW - Scottish economcs
KW - Scotlands budget
KW - COVID-19 pandemic
UR - https://www.strath.ac.uk/business/economics/fraserofallanderinstitute/publications/commentary/
M3 - Article
SN - 2046-5378
VL - 44
JO - Fraser of Allander Economic Commentary
JF - Fraser of Allander Economic Commentary
IS - 2
ER -