SMEs Survival in Time of Crisis: Strategies, Tactics and Commercial Success Stories

Abstract

Small and Medium Sized Enterprises (SMEs) in periods of prolonged economic crisis may suffer disproportionately from economic downturns, because of their limited financial resources and dependence on banks’ lending, paying such high interest rates. Adding to the financial aspect, their relative shortcomings in terms of technological, managerial and human capabilities may reduce their capacity to overcome the economic crisis. On the other hand, their greater dependence on (fewer) customers and suppliers may lead to increased difficulties in maintaining their activity in the face of the crisis. On the contrary, lots of studies show that there are still some sectors that have been affected a lot from the financial crisis, there are companies, which show a remarkable yield and it seems that they get a benefit from the crisis and make use of chances. The difference of the companies’ attribution still observed in the same geographical region even though to the same local market. Into this specific paper there is going to be examined how SMEs in the area of commerce develop alternative marketing strategies, innovative tactics and new concepts in order to survive.