The question of (un)employment - the impact of the coronavirus
pandemic on the business model of SMEs

TALÍŘ, Milan, Kristína KORENÁ and Lenka DUŠÁKOVÁ. The question of (un)employment - the impact of the coronavirus pandemic on the business model of SMEs. Littera Scripta. České Budějovice: VŠTE, 2023, 16/2023, No 2, p. 112-128. ISSN 1805-9112.

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TY  - JOUR
ID  - 71241
AU  - Talíř, Milan - Korená, Kristína - Dušáková, Lenka
PY  - 2023
TI  - The question of (un)employment - the impact of the coronavirus pandemic on the business model of SMEs
JF  - Littera Scripta
VL  - 16/2023
IS  - 2
SP  - 112-128
EP  - 112-128
PB  - VŠTE
SN  - 18059112
KW  - SME
KW  - economic crises
KW  - transformation
KW  - unemployment
KW  - business strategy
UR  - https://littera-scripta.com/wp-content/uploads/2023/12/LITTERA_SCRIPTA_2_2023-final.pdf
N2  - The authors of this article analysed the impact of the COVID-19 pandemic on the financial situation of employees in small and medium-sized enterprises (SMEs) in the Czech Republic. They conducted a questionnaire survey with 251 respondents in October and November 2021. The structure of the respondents was divided according to the size of the firms, the time of operation in the market, and the focus of business activity, which was presented in detail in the tables. Statistical methods including Quadratic SVM (support vector machine) and Gaussian process regression model were used to evaluate the changes in financial valuation among employees during the pandemic. The analysis results showed that most respondents (SMEs) did not experience a difference in their financial valuation, with the most significant salary retention observed in small-sized enterprises with international operations. The statistical methods of Quadratic SVM and Gaussian process regression model contributed to a better understanding of the financial situation of employees during the pandemic. The Gaussian process confirmed that approximately 80% of the respondents did not experience any change in their salary during the pandemic. One positive finding is some small business owners and businesses that took advantage of compensation programs from the government (e.g., nursing, isolation) with positive financial outcomes for their employees. This shows that appropriately designed subsidy policies can benefit SMEs and help them survive difficult times. Overall, it can be concluded that the COVID-19 pandemic has had an impact on SMEs, some of which have been able to adapt and use state support to maintain employment and financial stability. In supporting SMEs, the government should continue to focus its strategies on maintaining jobs and providing financial support during periods of economic crises such as the pandemic. This research provides valuable insights for the formulation and implementation of effective measures to minimize the negative impacts of crises on SMEs and their employees.
ER  -

Basic information
Original name	The question of (un)employment - the impact of the coronavirus pandemic on the business model of SMEs
Authors	TALÍŘ, Milan, Kristína KORENÁ and Lenka DUŠÁKOVÁ.
Edition	Littera Scripta, České Budějovice, VŠTE, 2023, 1805-9112.

Other information
Original language	English
Type of outcome	Article in a journal
Field of Study	50204 Business and management
Country of publisher	Czech Republic
Confidentiality degree	is not subject to a state or trade secret
WWW	URL
Organization unit	Institute of Technology and Business in České Budějovice
Keywords in English	SME; economic crises; transformation; unemployment; business strategy
Tags	STR_s
Links	IVSUPS2304, research and development project.
Changed by	Changed by: Mgr. Nikola Petříková, učo 28324. Changed: 1/3/2024 09:41.

Abstract

The authors of this article analysed the impact of the COVID-19 pandemic on the financial situation of employees in small and medium-sized enterprises (SMEs) in the Czech Republic. They conducted a questionnaire survey with 251 respondents in October and November 2021. The structure of the respondents was divided according to the size of the firms, the time of operation in the market, and the focus of business activity, which was presented in detail in the tables. Statistical methods including Quadratic SVM (support vector machine) and Gaussian process regression model were used to evaluate the changes in financial valuation among employees during the pandemic. The analysis results showed that most respondents (SMEs) did not experience a difference in their financial valuation, with the most significant salary retention observed in small-sized enterprises with international operations. The statistical methods of Quadratic SVM and Gaussian process regression model contributed to a better understanding of the financial situation of employees during the pandemic. The Gaussian process confirmed that approximately 80% of the respondents did not experience any change in their salary during the pandemic. One positive finding is some small business owners and businesses that took advantage of compensation programs from the government (e.g., nursing, isolation) with positive financial outcomes for their employees. This shows that appropriately designed subsidy policies can benefit SMEs and help them survive difficult times. Overall, it can be concluded that the COVID-19 pandemic has had an impact on SMEs, some of which have been able to adapt and use state support to maintain employment and financial stability. In supporting SMEs, the government should continue to focus its strategies on maintaining jobs and providing financial support during periods of economic crises such as the pandemic. This research provides valuable insights for the formulation and implementation of effective measures to minimize the negative impacts of crises on SMEs and their employees.

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