INTERNATIONAL OVERVIEW OF SMALL AND MEDIUM SCALE BUSINESSES AFFECTED BY GLOBAL CRISES

Abstract

Since the world has existed, crises have manifested themselves in different ways at
different times and will continue to do so. Crises manifest themselves globally as well as
nationally and reach a position that transcends borders. These crises may occur due to natural
disasters as well as economic, political and social reasons that affect countries, societies, governments, social and economic policies and pose a threat to these countries. When a crisis
comes, businesses struggle intensely to fight the crisis, to survive with the least damage, and
to continue their existence. SMEs, which constitute an important part of employment and
production, have an important place among enterprises. In this study, studies consisting of
research articles related to the economic crisis in 2008, which had a global impact, and the
economic crisis that occurred with the covid-19 epidemic in 2019, were included. Studies
conducted in Italy, England, Pakistan, Nigeria, Slovakia, Germany, Russia, Spain, Sweden (2),
China, Romania, Czech Republic, Indonesia, Iraq, Poland, Turkey and the United Kingdom
were evaluated. Eighteen original research articles of the researchers, which revealed how
SMEs were affected by the crisis, were examined. The data obtained as a result of each research
were evaluated and analysis studies were carried out on common results and recommendations.
As a result of the study, it has been seen that SMEs have significant contributions in reducing
unemployment and poverty in countries. In this troubled process, it has been observed that
SMEs will face high-risk problems such as increasing operating costs caused by logistics
problems and not being able to get or pay loans. Again, it has been determined that income
levels will decrease, those who do not allocate cash for the crisis will have difficulties, and may
even go to closure. It has been concluded that leaders and managers have important roles in
order to get businesses out of the crisis, and they should be supported financially by
governments and competent authorities, such as taxes, rent, and personnel wages.