Author(s)

Muqingyang Li

Corresponding Author

Muqingyang Li

ABSTRACT

Small and midsize companies exist and are being defined differently in every nation. Compared with large companies, there is a certain gap between the number of employees and the business scale of small and medium-sized companies. Therefore, it is an unremitting challenge for small and medium-sized enterprises to survive under the background of a universal monopoly. Five huge problems affecting the survival of small and medium-sized enterprises include management problems, financial problems, entrepreneurship problems, cash flow problems and external factors. The paper aims to analyze the strategies in Small and Midsize Businesses. The focus of the analysis is on the misuse of strategies in both small and midsize companies. In the paper, the researcher provides the specific example of small and midsize companies which are facing challenges normally in Sri Lanka to explore, when the paper analyzes the strategies in small and midsize companies’ business, the researcher considers the three challenges of the Covid-19 on the development of small and midsize companies. In addition, the postponement of sports events also brings great challenges to small and medium-sized enterprises in the sports industry, tourism, and hotels. Since most small and medium-sized enterprises respond to the epidemic by selling their assets, accepting more debt, or even laying off workers, it is not conducive to improving the core competitiveness of enterprises, but also to the long-term development of enterprises.

KEYWORDS

Small and Midsize Business, Small and Midsize Enterprise, Business Strategy, Challenge, Covid-19