ABSTRACT
Small and Medium Enterprises are the backbone of most economies and in particular in UAE they constitute more than 90% of the businesses. Small and Medium Enterprises contribute to the economy in several ways including generation of employment, filling up of institutional voids, contribution to the Gross Domestic Product, and many more. Based on the Literature Review for the last two decades, this paper discusses how the Small and Medium Enterprises get impacted whenever there is a crisis in the economy due to Economic Recession or Civil War or Natural Calamity or Pandemic like the COVID 19. The study exposes the critical fact that despite being the backbone of the economy, the Small and Medium Enterprises are highly vulnerable and the most impacted at the onset of any crisis. The study draws attention to the Public Policy, Entrepreneurial Orientation, Entrepreneurial Behavior, Technology Orientation and Strategic Thinking as some of the key factors to be focused on for sustainability of SME business performance.
Keywords
Small and Medium Enterprises; Business Performance; Economic Crisis; Business Growth