Abstract
The COVID-19 crisis ushered in a multitude of challenges for SMEs. While these challenges are mainly financial and non-financial constraints, the ability to access markets and resilience capability building also exist for SMEs. The researcher conducted a review of 101 articles to analyze the pandemic's effects on SME businesses and found six thematic clusters: 1) operational costs, (2) resource losses, (3) business activity disruptions, (4) team performance disruptions, (5) individual and collective wellbeing disruptions, and (6) organizational survival threats. Based on these, the researcher identified six crucial emergent strategies to practically address the challenges around marketization and digitalization. These involve SME management, owners, and staff working more collaboratively to develop and adapt to new marketization regulations, policies, economic structuration, digital technologies, open innovation, and an overarching global network for local and international resilience. The implications of the results and an agenda for future research are presented and discussed.
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