Challenges and Strategies of SMEs during COVID-19

This study aims to assess the different challenges faced by the small and medium enterprises in Oman during the COVID-19 pandemic and the specific strategies to address them. Using qualitative research design and interview strategy, the study highlighted the experience of ten (10) business owners. Majority of these business owners have less than OMR5,000 capitalization, less than 5 employees, and organized as sole, partnership and private entities which are mostly from food and beverage industry. The results were analysed according to majors themes as marketing, human resource, finance and operations. The business owners identified the major difficulties encountered during COVID-19 such as low number of customers, drastic change in the marketing technique, reduction of employees, increasing cost of employee health and safety, low profits, accrual of rents and salaries, material wastage and shift to new working hours. The common strategies include new business model, reduction of salary, implementation of work from home, diversification and streamlining of business processes. Expanding the number of participants can be considered for further research to establish a wider picture of the SME experience during COVID-19.