Pandemic Structural Damage in the Market – Structural Damages in Micro, Small and Medium Scale Enterprises: Strategic Way Forward
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Abstract
Pandemic: Pandemic refers to Covid-19 declared by the WHO on March 11, 2020. Market structure: Market structure is defined as the various systems, procedures that exist amongst the micro, small, and medium scale enterprises who are engaged in commercial activity by buying and selling products or services, and carrying out trade, generating wealth, and are a subsect of overall macro level economy.
Structural change: Structural change is a complete shift in the basic ways a market operates. In this case, the functions and operations of micro, small and medium scale enterprises. Structural changes happened in business as a result of internet usage, online payments, GST to name a few.
Structural damage: Structural damage is the harm that has happened and is happening to the markets, in this case, the micro, small and medium scale enterprises, which impairs the value usefulness, or normal functioning of the enterprises. Micro Small and Medium Enterprises (MSMEs): Government of India (GoI)’s Jun 2020 definition of MSME is adopted for this study and they are as follows:
• Micro enterprises are those that have Rs 1 Crore investments and Rs 5 Crore turnover.
• Small enterprises are those that have Rs 10 Crores investments and Rs 50 Crores turnover.
• Medium enterprises are those that have Rs 50 Crores investments and Rs 250 Crores turnover.
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