Covid-19 Financial Support to Small Businesses in Switzerland PDF Download
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Author: Marius Brülhart
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
What determines small businesses' recourse to public support measures during the Covid-19 crisis? We analyse this question using a survey of 1,011 self-employed workers and small business owners in Switzerland, linked to information pre-dating the crisis. We find that "objective" measures of lockdown affectedness and economic structure explain fairly well how businesses availed of support measures to cover labour costs. Recourse to governmentbacked Corona loans, however, is less well explained by objective characteristics and appears to be driven to a larger degree by behavioural idiosyncrasies across firms. Specifically, previously indebted businesses took out Corona loans more readily than those who had been debt-free before the pandemic. Since Corona uptake is not well in line with firm fundamentals, we propose making loan repayments contingent on future profits. This will more effectively target and sustain businesses that are in trouble today but would be viable in the absence Covid-19. Looking ahead, we also suggest that public support measures should gradually switch from "freezing" the economy towards facilitating structural reallocation. Support to firms whose activity continues to be constrained by the pandemic should be gradually lowered.
Author: Marius Brülhart
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
What determines small businesses' recourse to public support measures during the Covid-19 crisis? We analyse this question using a survey of 1,011 self-employed workers and small business owners in Switzerland, linked to information pre-dating the crisis. We find that "objective" measures of lockdown affectedness and economic structure explain fairly well how businesses availed of support measures to cover labour costs. Recourse to governmentbacked Corona loans, however, is less well explained by objective characteristics and appears to be driven to a larger degree by behavioural idiosyncrasies across firms. Specifically, previously indebted businesses took out Corona loans more readily than those who had been debt-free before the pandemic. Since Corona uptake is not well in line with firm fundamentals, we propose making loan repayments contingent on future profits. This will more effectively target and sustain businesses that are in trouble today but would be viable in the absence Covid-19. Looking ahead, we also suggest that public support measures should gradually switch from "freezing" the economy towards facilitating structural reallocation. Support to firms whose activity continues to be constrained by the pandemic should be gradually lowered.
Author: Tanja Huber
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
The coronavirus affects the strongly export-oriented Swiss economy in a situation where political and economic developments are already making the cross-border exchange of goods and services difficult. For this reason, the question arises of how Switzerland can maintain or strengthen its position in global competition in the export business during an unprecedented period of crisis such as the current one. In order to find an answer to this question, this paper critically examines the existing government support measures for Swiss exporters in times of COVID-19. The fact that Switzerland has so far not taken any specific support measures for exporters raises the actual research question of whether there is a specific necessity and demand for a special export promotion. To answer this research question, various expert opinions are compared and overall conclusions are drawn. By rapidly introducing and adapting the already existing instruments - liquidity assistance and an expansion of short-time work benefits - the federal government was able to ensure the survival of many companies. According to the authors of this paper, this focus of government support in times of crisis is just right for a small national economy in the short term and therefore preferable to a specific support of exporters. Nevertheless, given the high relative importance of foreign trade for Switzerland's overall economic performance, there can be no recovery of national economy without a recovery of foreign trade.
Author: Tao Sun
Publisher: International Monetary Fund
ISBN: 1513585193
Category : Business & Economics
Languages : en
Pages : 16
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Book Description
This note analyzes the economic impact of digital lending to micro and small sized enterprises (MSEs) in China during the coronavirus disease (COVID-19) pandemic. A preliminary analysis of a large pool of MSEs served by a digital bank indicates that digital banks were able to remotely evaluate borrowers and sustain lending during the pandemic, thereby facilitating the business continuity, sales growth, and financial inclusiveness of MSEs. In the global context, a policy framework—leveraging the advantages of digital banks and empowering digital banks, while guarding against possible financial stability risks—would further support small businesses during and after the COVID-19 pandemic.
Author: Charles Albert Eric Goodhart
Publisher:
ISBN:
Category : Adverse selection (Insurance)
Languages : en
Pages : 48
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Book Description
A sizeable proportion of enterprises, especially SMEs, in receipt of financial assistance from the government, will fail to repay. In this paper we asked whether, and to what extent, it may be beneficial to apply a screening mechanism to deter those mostly likely to fail to repay from seeking such financial assistance in the first place. The answer largely turns on the relative weights attached for the objectives of stabilisation as compared with allocative efficiency. For this purpose, we develop a two-sector infinite horizon model featuring oligopolistic small businesses and a screening contract in the presence of a pandemic shock with asymmetric information. The adversely affected sector with private information can apply for government loans to reopen businesses once the pandemic has passed. First, we show that a pro-allocation government sets a harsh default sanction to deter entrepreneurs with bad projects from reentering and improves aggregate productivity in the long run, but the economy suffers persistent unemployment in the near term. However, a pro-stabilisation government sets a lenient default sanction or provides full guarantees to reach full employment in the short term, but the economy will be shifted to a lower equilibrium in the long run. The optimal default sanction balances the trade-off between allocation and stabilisation. Then, we derive an analytic measure of "Stabilisation Proclivity" and characterise the parameter space and the macro-financial frictions that render the government either more pro-allocation or more pro-stabilisation. Finally, we solve for the optimal default sanction numerically and conducts comparative statics for various policy analyses.
Author: OECD
Publisher: OECD Publishing
ISBN: 9264840400
Category :
Languages : en
Pages : 291
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Book Description
This report builds on the OECD work on “government evaluations of COVID-19 responses”. It evaluates Belgium’s responses to the pandemic in terms of risk preparedness, crisis management, as well as public health, education, economic and fiscal, and social and labour market policies.
Author: Pego, Ana
Publisher: IGI Global
ISBN: 1799888584
Category : Business & Economics
Languages : en
Pages : 624
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Book Description
Management methodology and its applicability in society has changed drastically during the COVID-19 pandemic. Organizations have had to adopt new forms of resilience based on the needs of a different consumer. The COVID-19 market is a challenge for both producers and consumers as it meets new needs and a new capacity of merchandising. The Handbook of Research on Global Networking Post-COVID-19 fully unleashes the broad potential of entrepreneurial activity by exploring and highlighting new businesses and, as a result, the well-being of millions of people globally throughout the COVID-19 pandemic and prospects for the future. Delving into topics such as student empowerment, economic sectors, and personal finance, this book is an essential resource for managers, CEOs, consultants, faculty of higher education, students, researchers, policymakers, and academicians.
Author: Bahaaeddin Alareeni
Publisher: Springer Nature
ISBN: 3031269535
Category : Technology & Engineering
Languages : en
Pages : 880
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Book Description
This book addresses the implications of technology, entrepreneurship, and business development gadgets for applications in societies. In this book proceedings, we attempt to address the importance and impact of digitalization and on business development in the context of economic diversity, that is through various propositions of modern technology and entrepreneurial actions, and through the lens of case studies, experiments, empirical assessments, just to name a few research methodological stances and approaches. This book highlights a range of topics in the fields of technology, entrepreneurship, business administration, accounting, and economics that can contribute to business development in developing countries, such as learning machines, artificial intelligence, big data, deep learning, game-based learning, management information system, accounting information system, knowledge management, entrepreneurship and social enterprise, corporate social responsibility and sustainability, business policy and strategic management, international management and organizations, organizational behavior and HRM, operations management and logistics research, controversial issues in management and organizations, turnaround, corporate entrepreneurship, and innovation, legal issues, business ethics, and firm governance, and firm financial affairs, non-traditional research, and creative methodologies. This book is ideal for academicians, activists, curriculum developers, researchers, professionals, administrators, and policymakers. The readers of this book could gain an up-to-date know-how on state-of-the-modern technology, entrepreneurship, and business development and achievements in this regard from the research standpoint of view.
Author: Allen N. Berger
Publisher: Elsevier
ISBN: 044315273X
Category : Business & Economics
Languages : en
Pages : 522
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Book Description
The Economic and Financial Impacts of the COVID-19 Crisis Around the World: Expect the Unexpected provides an informed, research-based in-depth understanding of the COVID-19 crisis, its impacts on households, nonfinancial firms, banks, and financial market participants, and the effectiveness of the reactions of governments and policymakers in the United States and around the world. It provides reflections and perspectives on the social costs and benefits of various policies undertaken and a toolkit of preventive measures to deal with crises beyond the COVID-19 crisis. Authors Allen N. Berger, Mustafa U. Karakaplan, and Raluca A. Roman apply their expertise to the research and data on the COVID-19 economic crisis as well as draw on their own rich research experience. They take a holistic approach that compares and contrasts this crisis with other economic and financial crises and assesses economic and financial behavior and government policies in the booms before crises and the aftermaths following them, as well as the crises themselves. They do all this with a keen eye on “Expecting the Unexpected future crises, and policies that might anticipate them and provide better outcomes for society. Serves as a compendium of available research and data on COVID-19, policies in response to the pandemic, and its effects on the real economy, banking sector, and financial markets Contextualizes the COVID-19 economic crisis by comparing it to two other global crises from the past: the Crash of 1929 and the Global Financial Crisis of 2007–2009 Helps illustrate how crises that originate in financial markets and in the banking sector differ from each other as well as from the COVID-19 crisis that harmed the real economy first Compares the policies and outcomes of nations to the COVID-19 pandemic and assesses their costs and benefits, with potential implications for prospective future crises
Author: Qalati, Sikandar Ali
Publisher: IGI Global
ISBN: 1668457717
Category : Computers
Languages : en
Pages : 307
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Book Description
Small and medium-sized enterprises (SMEs) are recognized as the backbone of todays world economy. However, SMEs are well known for having limitations and acceptance barriers in adopting new technology even though the internet and communications channels revolution has changed the way people conduct business today. Further, the COVID-19 pandemic has disturbed the operations of SMEs and increased the burden on social media application globally. It is essential that SMEs utilize social media to strengthen their performance. Strengthening SME Performance Through Social Media Adoption and Usage explores experiences in different technological, managerial, organizational, and entrepreneurial environmental issues. It focuses on different conceptions of factors and consequences influencing social media usage and SME performance. Covering topics such as corporate social responsibility, marketing frameworks, and social media adoption, this premier reference source is a valuable resource for entrepreneurs, business leaders and managers, human resource managers, marketers, consultants, students and educators of higher education, librarians, researchers, and academicians.
Author: Joanna Paliszkiewicz
Publisher: Routledge
ISBN: 1000455416
Category : Business & Economics
Languages : en
Pages : 304
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Book Description
Trust is a pervasive catalyst of human and business relationships that has inspired interest in researchers and practitioners alike. It has been shown to enhance engagement, communication, organizational performance, and online activities. Despite its role to cultivate cooperation, knowledge-sharing, and innovation, trust through digital means or even trust in digital media has presented new opportunities and challenges in society. Examples include a wider and faster dissemination of trust-influencing messages, and richer options of digital cues that engage, disrupt, or even transform how trust is formulated. Despite that, trust helps people to live through risky and uncertain situations, and the many capabilities enabled on the digital platforms have made the formation and sustaining of trust very different compared to traditional means. Trust in today’s digital environment plays an important role and is intertwined with concepts including reliability, quality, and privacy. This book aims to bring together the theory and practice of trust in the new digital era and will present theoretical and practical foundations. Trust is not given; we must work to build it, but it is a very fragile and intangible asset once built. It is easy to destroy and challenging to rebuild. Researchers, academics, and students in the fields of management, responsibility, and business ethics will gain knowledge on trust and related concepts, learn about the theoretical underpinnings of trust and how it sustains itself through digital dissemination, and explore empirically validated practice regarding trust and its related concepts.
