How the pandemic has transformed small and medium-sized businesses

15:15, November 19, 2021

Experts discussed management decisions of entrepreneurs during the period of restrictions

The round table "Business response to new development challenges: cases of Russian regions" was held at UrFU as part of the XVI International conference "Russian regions in the focus of changes". Experts and entrepreneurs analyzed the reactions of regional small and medium-sized enterprises to the challenges of the crisis associated with the COVID-19. Based on sociological and statistical data, the roundtable participants highlighted management decisions and areas for the development of entrepreneurship in the context of a pandemic. The transition to online business has become an effective tool for some areas.

“The level of digitalization of small and medium-sized businesses in the Sverdlovsk region is high. On average, the digitalization rate in the country is slightly below 4%, in the Sverdlovsk region - 4.1%. This is the 7th place among the regions of Russia. The business restructured quickly, and that's a good thing. Even fitness clubs were able to transfer classes to an online format and retain clients,” says Stepan Zemtsov, Senior Researcher of Innovation Economics Department, Gaidar Institute for Economic Policy

The participants of the discussion noted that not all industries were able to respond promptly to restrictive measures, and Internet access did not become a universal solution for every business model. Representatives of the beauty industry, construction and transport and logistics industry shared their personal experience of doing business in a pandemic. Each sphere of small and medium-sized businesses has faced individual challenges - from information chaos to a decrease in the purchasing power of the population.

The participants of the discussion noted that not all industries were able to respond promptly to restrictive measures, and Internet access did not become a universal solution for every business model. Representatives of the beauty industry, construction and transport and logistics industries shared their personal experience of doing business in a pandemic. Each sphere of small and medium-sized businesses has faced individual challenges - from information to a decline in the purchasing power of the population.