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Title: The Impact of the COVID-19 Crisis on Growth-Oriented SMEs: Building Entrepreneurial Resilience
Authors: SCHEPERS, Jelle 
Yannick Dillen
Issue Date: 2021
Publisher: MDPI
Source: Sustainability, 13 (16) (Art N° 9296)
Abstract: This study explores how the COVID-19 pandemic has forced Flemish growth-oriented entrepreneurs to build entrepreneurial resilience. We rely on a research framework that consists of a "challenge-reaction-learning loop" to empirically investigate how entrepreneurial resilience is built in times of the COVID-19 crisis. To investigate this complex entrepreneurial learning process, we use data that have been collected during the first and second wave of the COVID-19 pandemic. By using several datapoints, we could identify (1) the specific challenges growth-oriented firms are facing as a result of the COVID-19 crisis; (2) how these entrepreneurs reacted to these challenges; and (3) what they learned during the first and second wave of the pandemic and how they perceive the future. By making this entrepreneurial learning process explicit and dividing it into an iterative "challenge-reaction-learning loop", this study is relevant for all entrepreneurs, as it contains several interesting lessons learned. We also contribute to academic literature as we provide future researchers a tangible framework to further elucidate how entrepreneurial resilience is built in times of crisis.
Keywords: entrepreneurship;COVID-19;crisis;growth-orientation;resilience
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e-ISSN: 2071-1050
DOI: 10.3390/su13169296
ISI #: WOS:000690248400001
Rights: 2021 by the authors. Licensee MDPI, Basel, Switzerland. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (https://
Category: A1
Type: Journal Contribution
Validations: ecoom 2022
Appears in Collections:Research publications

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