The research was carried out as part of a grant from St. Petersburg University (ID: 60419345). The team of the Center for Entrepreneurship of the Graduate School of Management of St. Petersburg University (GSOM SPbU) analyzed factors that have influenced small and medium firms (SMEs) survival during crises.
In particular, the team conducted two studies: a bibliometric analysis of the literature devoted to survival strategies of SMEs during crisis fostered by the COVID-19 pandemic, and an empirical study on the antecedents of entrepreneurial exit. Based on the conducted literature analysis, it was identified that the most researched approaches to overcoming the consequences of a crisis were innovativeness and entrepreneurial orientation, crisis management, and development of organizational resilience. The empirical study showed the significant impact of an entrepreneur’s resources (human, social, and financial capitals) on the probability to close a business. Regardless of the reason for exit (voluntary or failure-based), the higher the level of aforementioned capitals the higher the probability of discontinuing a business.
The results of this research work were presented at Graduate School of Management SPbU Research seminar that was held on May, 25, 2021.
«The project aimed to identify strategies that increase SMEs ability to overcome crisis consequences and survive. The conducted studies are considered as a first step on a way to entrepreneurial firms’ survival research stream. The research team of the Center for Entrepreneurship will continue research in this field, starting with the analysis of data on Russian SMEs behavioral strategies during COVID-19 period that was collected in the beginning of 2021», —- said Anastasiia Laskovaia, Project Manager, Assistant Professor at GSOM SPbU.