Operational Strategies of Small Medium Enterprises (SMEs) in Lusaka Zambia – Post Covid-19

Abstract

The problem for this paper emerged from the impact of the COVD-19 pandemic on operational strategies for small-medium enterprises (SME) in Lusaka, Zambia. There is insufficient literature on the operation strategies for SME globally, Zambia inclusive worse still in times of crisis. Insufficient literature may contribute more to post-COVD 19 economic recovery or coping strategies. It is against this backdrop that this paper conducted a systematic literature review. Design/Methodology: This paper used a systematic literature review. This was done by following a keyword search and an assessment of relevant or related literature to COVID-19 on SME. The methodology included review of the report by ITC and government interventions/strategies during the pandemic were analyzed. Findings: The literature confirmed that the pandemic affected small businesses more severely than larger ones. SME operations mostly involving reduced sales (75%), difficulty accessing inputs (54%), demand depression which led to reduced sales and business revenue, which led to the termination of employment of many workers in the SME sector. Government interventions included diversification of SME, the introduction of on-line selling, promotion of local products, and risk management regarding employee availability. Research implication: Additional scientific research on the impact of COVID-19 on SMEs, strategy implementation, and control in the SME risk management is required. Originality/ value: This paper is the first comprehensive review of the literature on the impact.