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Entrepreneurial and SME Resilience During Crisis Episodes: Are Risk Management and Entrepreneurial Resilience Linked?
Author(s): Andrea Sandra Brear (Ulster University, Ireland)
Copyright: 2021
Pages: 28
EISBN13: 9781668437230
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Abstract
Businesses and individuals have experienced multiple crises that have led to major financial and developmental impacts for entrepreneurs and small and medium sized enterprises (SMEs). Researchers believe that entrepreneurs should be innovative through means of resilience skills, risk management, and identifying new opportunities. This chapter aims to investigate entrepreneurial resilience during crisis episodes, investigating the development of resilience and how it helps a business survive a crisis episode while considering the likelihood that entrepreneurial resilience and risk management are linked, how it is linked, and if it can be improved and utilised for success. An anonymous survey was conducted to investigate how entrepreneurs have been impacted by the pandemic, their attitudes surrounding risk assessments, and how their adaptations and innovations impacted the development and survival of their business. The conclusion discusses research findings and suggestions to support the survival of entrepreneurs and SMEs during crisis episodes.
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