Keywords: Small Business; Impact; Challenges; Opportunities; COVID-19
Introduction
The COVID-19 started at the end of 2019, and it had taken a severe toll in early 2020 and became a global crisis. Once the World Health Organisation declared COVID-19 a pandemic on 11 of March 2020, the world readied itself for its wide-ranging and explosive impact. No industry was free from the hit of COVID-19. Everyone was stuck, and we had no choice but to accept what COVID-19 had in store for us. The unexpected orders from many governments worldwide to follow lockdowns and the movement control order (MCO) phases created anxiety and panic. The imposition of lockdowns prevented individuals from travelling cross-border and bringing the economy to a halt. COVID-19 spread rapidly, causing widespread concern among the public, which directly impacted many enterprises and organisational structures. The pandemic has transformed businesses and has been a massive challenge for many industries and organisations. For better or worse, COVID-19, has irrevocably altered our lives.
Small businesses are an essential element of many countries' economies across the world. However, small businesses are financially vulnerable and seem to be bearing the brunt of the crisis's economic effects (OECD, 2020). Small business owners have been struggling greatly and facing difficult times through the COVID-19 pandemic. However, there are also some opportunities to be gained by small businesses due to the pandemic COVID-19. With the "new normal" life imposed and social distancing procedures, the digital transformation has taken place. Business owners should embrace this digital transformation and adapt, specifically to change the way they do business to suit customers' needs.
