FOREIGN STUDY

1. According to the study of Fairlie (2020) The first estimates of the effects of COVID ‐19 on the
number of business owners from nationally representative April–June 2020 CPS data indicate
dramatic early‐stage reductions in small business activity. According to him the number of active
business owners in the United States plunged from 15.0 million to 11.7 million over the crucial 2‐
month window from February to April 2020. No other 1‐, 2 ‐, or even 12 ‐month window of time
has ever shown such a large change in business activity. For comparison, from the start to end of
the Great Recession the number of active business owners decreased by 730,000 representing
only a 5% reduction. The loss of 3.3 million active business owners (or 22%) was comprised of
large drops in important subgroups, such as owners working roughly 2 days/week (28%), owners
working 4 days/week (31%), and incorporated businesses (20%). When viewed as total hours
worked by all business owners there was a drop of 29%.

Fairlie, R. (2020, August 27). The impact of COVID‐19 on small business owners: Evidence

from the first 3 months after widespread social‐distancing restrictions .

Https://Www.Ncbi.Nlm.Nih.Gov/Pmc/Articles/PMC7461311/. Retrieved December 6,

2020, from Https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7461311/

2. According to the study of the World Bank Group (2020) There are significant differences

across countries in the impact of the shock on sales, even when controlling for the sector

and size composition of the sample. Based on their findings some countries, such as

South Africa, Bangladesh, Sri Lanka, Tunisia, and Nepal, the average drop in sales in our

sample is beyond 60%, with significant dispersion between the 10th and the 90th

percentiles. However, because the interview they conducted in different periods across

countries with different sectoral and size distribution of firms, it is important to control

for these characteristics. Once they control for the size, sector, timing of survey, and

country fixed effects, they observe some important changes on the expected value of

changes in sales. South Africa is still the country with the largest expected drop in sales,
 followed by Bangladesh, Nepal, Honduras, India, and Jordan, all with average estimates

larger than 60% for the drop in sales. Senegal, Sri Lanka, and Côte d’Ivoire exhibit a

significant difference between the unconditional and the predicted mean once we control

for the characteristics previously mentioned.

W.B.G. (2020c, October 1). Unmasking the Impact of COVID-19 on Businesses Firm

Level Evidence from Across the World.

Https://Openknowledge.Worldbank.Org/Bitstream/Handle/10986/34626/Unmasking-the-

Impact-of-COVID-19-on-Businesses-Firm-Level-Evidence-from-Across-the-World.Pdf?

Sequence=5&isAllowed=y. Retrieved December 6, 2021, from

https://openknowledge.worldbank.org/bitstream/handle/10986/34626/Unmasking-the-

Impact-of-COVID-19-on-Businesses-Firm-Level-Evidence-from-Across-the-World.pdf?

sequence=5&isAllowed=y

FOREIGN LIT

1. Based on the insights shared by Accenture (2020) Organizations globally are

experiencing unprecedented workforce disruption. Virtually all companies are still

determining how we will work in the short- and long-term, as workforces and

communities try to function and perform, while struggling to cope with what is

happening in their daily lives. All industries have been impacted by the COVID-19

crisis, with varying degrees of severity. Some have stronger defenses, while others
 will struggle to return to a constantly shifting “normal.”Consumer demand patterns

are shifting, global supply chains are disrupted and remain under pressure, and

different regions, markets and governments are responding uniquely to the COVID-

19 crisis. Companies must continuously adapt to new and uncertain market conditions

Accenture (2020, July 31). Outmaneuver uncertainty: Navigating the human and

business impact of Covid-19. Https://Www.Accenture.Com/Us-

En/about/Company/Coronavirus-Business-Economic-Impact. Retrieved December 6,

2021, from https://www.accenture.com/us-en/about/company/coronavirus-business-

economic-impact

2. According to World Economic Forum (2020) more than 70% of start-ups have had to

terminate full-time employee contracts since the start of the COVID-19 pandemic; Many

entrepreneurial businesses have pivoted to meet new needs for goods or services borne

out of the crisis; The way entrepreneurial business models and approaches are affected by

the pandemic will have an impact on how entrepreneurship is perceived as a job choice in

the future. The onset and spread of COVID-19 have left few people, if any, unaffected.

According to them Governments all over the world have been repeatedly tested and

stretched. They have set new rules and norms to try to re-establish confidence and give

economies a chance of survival.

W.E.F. (2020b). Discovering the real impact of COVID-19 on entrepreneurship.

Discovering the Real Impact of COVID-19 on Entrepreneurship. Published.

3. According to World Health Organization (2020) The pandemic has been affecting the

entire food system and has laid bare its fragility. Border closures, trade restrictions and

confinement measures have been preventing farmers from accessing markets, including

for buying inputs and selling their produce, and agricultural workers from harvesting

crops, thus disrupting domestic and international food supply chains and reducing access

to healthy, safe and diverse diets. The pandemic has decimated jobs and placed millions

of livelihoods at risk. As breadwinners lose jobs, fall ill and die, the food security and

nutrition of millions of women and men are under threat, with those in low-income

countries, particularly the most marginalized populations, which include small-scale

farmers and indigenous peoples, being hardest hit.

World Health Organization. (2020, October 13). Impact of COVID-19 on people’s

livelihoods, their health and our food systems. Https://Www.Who.Int/News/Item/13-10-

2020-Impact-of-Covid-19-on-People’s-Livelihoods-Their-Health-and-Our-Food-

Systems. Retrieved December 6, 2021, from https://www.who.int/news/item/13-10-2020-

impact-of-covid-19-on-people’s-livelihoods-their-health-and-our-food-systems