Entrepreneurship in the Time of Covid-19: Challenges, Opportunities and Government Assistance in Latvia

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Abstract

The aim of this article is to analyse the government assistance provided to entrepreneurs in Latvia and its efficiency and appropriateness to the economic conditions encountered by entrepreneurs during the COVID-19 crisis. An insight into international experience creates the framework of this study. The empirical analysis is based on secondary data analysis and entrepreneurs survey data on business response to COVID-19 related pandemics restrictions and government assistance in Latvia. The observed business areas are financial and risk management, international trade, communication, employment, innovations, strategic change and legal issues. The paper finds that the crisis affected the most such industries as accommodation and catering services; arts, entertainment and recreation. The result provides support to justification for a national long-term crisis management strategy for business sustainability.
Original languageEnglish
Title of host publication22nd International Scientific Conference "Economic Science for Rural Development 2021"
Subtitle of host publicationProceedings
EditorsAnita Auziņa
Place of PublicationJelgava
PublisherLatvia University of Life Sciences and Technologies
Pages434-442
Number of pages9
Volume55
ISBN (Electronic)9789984483825
DOIs
Publication statusPublished - May 2021
Event22nd International Scientific Conference
"ECONOMIC SCIENCE FOR RURAL
DEVELOPMENT 2021"
- Jelgava, Latvia
Duration: 11 May 202114 May 2021

Publication series

NameEconomic Science for Rural Development
Volume55
ISSN (Print)2255-9930

Conference

Conference22nd International Scientific Conference
"ECONOMIC SCIENCE FOR RURAL
DEVELOPMENT 2021"
Country/TerritoryLatvia
CityJelgava
Period11/05/2114/05/21

Keywords*

  • government assistance
  • entrepreneurship
  • Latvia
  • COVID-19

Field of Science*

  • 5.2 Economy and Business

Publication Type*

  • 3.2. Articles or chapters in other proceedings other than those included in 3.1., with an ISBN or ISSN code

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