Answer the questions in the answer sheet provided. State your answer in ten(10) sentences. Based on your own opinion, how does the COVID-19 affect the Micro Small andMedium Enterprises? 1. Based on your own opinion, how does the COVID-19 affect the Micro Small andMedium Enterprises?

Answered: 1. Based on your own opinion, how does…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Question

Answer the questions in the answer sheet provided. State your answer in ten
(10) sentences.

Based on your own opinion, how does the COVID-19 affect the Micro Small and
Medium Enterprises?

1. Based on your own opinion, how does the COVID-19 affect the Micro Small and
Medium Enterprises?

Expert Solution

Step 1

The business sector has suffered a significant setback as a result of the pandemic. It has a disastrous effect on the majority of business enterprises around the world. It has had a negative impact on labor markets and global supply networks, creating severe commercial disruption. Because of the pandemic, businesses have become financially vulnerable.