Microbusinesses demonstrated resilience through creative ways to survive during the COVID-19 pandemic closures. Seven critical success factors of internal and external influence are found from this research question review.
When COVID-19’s shutdown rolled out, many microbusinesses were forced to close since they were not considered essential services and activities. These microbusinesses had to scramble to find new ways to conduct business and retain customers to survive. This research question review summarizes key critical success factors that would help prevent microbusinesses from permanent closure during a pandemic. The seven success factors identified in this paper are: Management Skills, Learning Agility, Survival Tactics, Technology, Community, Business Alliances, and Marketing. These identified success factors could lead future research to develop suggestive models for microbusinesses to follow for closure preventions during a pandemic.
Authors: Debra Frank
Cite as: Frank, D. (2021). What are the critical success factors for microbusiness survival? Muma Business Review, 5(14). 129-137. https://doi.org/10.28945/4908