To read this content please select one of the options below:

Recovery planning and resilience of SMEs during the COVID-19: experience from Saudi Arabia

Mohammad Nurunnabi (Department of Accounting, Prince Sultan University, Riyadh, Saudi Arabia)

Journal of Accounting & Organizational Change

ISSN: 1832-5912

Article publication date: 13 November 2020

Issue publication date: 15 December 2020

1992

Abstract

Purpose

The aim of this study is to tell a story about how the coronavirus 2019 (COVID-19) pandemic affects small- and medium-sized enterprises (SMEs), using Saudi Arabia as an example. In particular, this study explores how SMEs in Saudi Arabia address needed changes in their survival strategy in the market during the COVID-19 pandemic.

Design/methodology/approach

This reflective essay is based on the “White Paper 3” of the Global SME Policy Network (GSPN). The GSPN is a global think tank based in Saudi Arabia. As one of the founding leaders of the GSPN and one of the authors of White Paper 03, the author writes this reflective essay based on the interviews of the Chief Executive Officers of 111 SMEs in Saudi Arabia. The interviewees were from six administrative areas including Al-Baaha, Eastern Region, Madinah, Makkah, Qassim and Riyadh. Importantly, 84.7%interviewees were from Riyadh.

Findings

The government has provided significant efforts and stimulus package to keep stable employment and small and medium businesses. A majority of the companies were satisfied with the stimulus packages announced by the government. The author believes that organizations need to monitor and evaluate all the developments associated with the spread of the emerging virus and to develop and implement contingency plans to meet any undesirable circumstances arising from COVID-19 pandemic.

Originality/value

The author believes that the role of SMEs in economic transformation and Vision 2030 is imperative. The author observes that Saudi Arabia is working to increase the contribution of SMEs to gross domestic product from 20% to 35%. Other countries should continuously evaluate the SME impact because of the COVID-19 and continue the support based on the evaluation report such as Saudi Arabia.

Keywords

Acknowledgements

The author gratefully acknowledges the Global SME Policy Network (GSPN), the sponsor of the initiative – Prince Sultan University and the content partner, industry partners, and knowledge partner. The author also acknowledges the authors of White Paper 03 of the GSPN. The author also acknowledges the Editor of Journal of Accounting and Organizational Change – Professor Zahirul Hoque – for his constructive comments in an earlier version of this reflective essay.

Citation

Nurunnabi, M. (2020), "Recovery planning and resilience of SMEs during the COVID-19: experience from Saudi Arabia", Journal of Accounting & Organizational Change, Vol. 16 No. 4, pp. 643-653. https://doi.org/10.1108/JAOC-07-2020-0095

Publisher

:

Emerald Publishing Limited

Copyright © 2020, Emerald Publishing Limited

Related articles