Abstract
Research background:2020 will always remain a pandemic year in the world. A year that shook everyone including business. After the end of the emergency, many countries are planning business recovery measures. Many programs are planned for micro and small businesses. Due to the large number of micro-enterprises that the authors decided to conduct a study on the preparedness of micro and small enterprises for emergencies. About the areas in which small businesses operate, how and whether they are only able to operate in the domestic market or are ready for globalization. 65% of Latvian micro and small enterprises in surveys conducted by credit institutions showed that the impact of COVID19 on operations is noticeable and will be necessary for business recovery. At the same time, 47% of them confirmed that they plan to change their business model according to the new situation.Purpose of the article:The aim of the research is to identify the interaction of the activity structure of Latvian micro and small enterprises with emergency situations. To analyze the operating environment and the intensity of its impact on business.Methods:Quantitative research is based on official business data from several sources - Enterprise Register, Ministry of Economics, Re-Identifier of the Register of Enterprises Ltd. “Lursoft”, Central Statistical Bureau. The study will review data on the last 5 years by analyzing data for 2013-2017. The following research methods have been used for the research: quantitative data research approach, analytical study comparing data for five years and graphical method - visualization and analysis of visual information.Findings & Value added: As a result of the article, it is planned to group the directions of activities of micro and small enterprises based on the impact of the emergency situation on them. Thus, performing an analysis of the readiness of Latvian micro and small enterprises for emergency situations and the impact on operations.
Highlights
Based on the criteria set out in Annex 1 of the European Commission (EC) Regulation No.800 / 2008 and official data, about 99% would be in the category of small and mediumsized enterprises (SMEs)
The 2008 Latvian financial crisis, which stemmed from the global financial crisis of 2008–2009, was a major economic and political crisis in Latvia
The purpose of the research is to identify the interaction of the activity structure of Latvian micro and small enterprises with emergency situations
Summary
Based on the criteria set out in Annex 1 of the European Commission (EC) Regulation No.800 / 2008 and official data, about 99% would be in the category of small and mediumsized enterprises (SMEs). PwC Global survey 2020 identifies 6 main areas that could be affected by a pandemic[14]: 1) Crisis management and response 2) Workforce 3) Operations and supply chain 4) Finance and liquidity 5) Tax, trade and regulatory 6) Strategy and brand For the most part, the outcome of micro and small businesses depends on the ability to adapt to conditions. The focus of this study is on the globalization crisis of micro and small enterprises. The purpose of the research is to identify the interaction of the activity structure of Latvian micro and small enterprises with emergency situations. The tasks of the research are: - To analyse the sphere of activity (by NACE) of micro and small enterprises (20132018) and the impact of globalization; - Assess the impact of the emergency on these areas of activity; - To look at the emergency situation in Latvia, how it was felt by Latvian micro and small enterprises. The tasks of the research are: - To analyse the sphere of activity (by NACE) of micro and small enterprises (20132018) and the impact of globalization; - Assess the impact of the emergency on these areas of activity; - To look at the emergency situation in Latvia, how it was felt by Latvian micro and small enterprises. - Analyze the continuation of micro and small business after the pandemic, support, programs, consequences
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