Please see the below comment from the tutor and also requested to assist.

The headings and subheadings must be linked to the suggested objectives of the study and numbered in a sequential order.

The content should provide a critical literature review throughout the study. Intext referencing should be provided as per the Harvard method of referencing within the intext of the content.

The last paragraph of the literature review should be a conclusion with 5 to 6 pages.

Topic is An investigation on the impact of COVID-19 on the growth and sustainability of Small Medium and Micro Enterprises (SMMES

6. Literature Review

6.1 Introduction

This literature review aims to analyse and synthesize existing research on the impact of COVID-19 on SMEs. By exploring different perspectives, arguments, methods, and key authors, this review seeks to shed light on a range of challenges and opportunities that have emerged. From economic resilience to digital transformation, from policy interventions to psychological health, the magazine navigates through a range of ideas, revealing the complex ways that small and medium-sized businesses navigated the uncharted waters.

6.2 Purposes

To help you refine your research questions and goals

Highlighting research opportunities that have been completely overlooked in research to date

Discover clear recommendations for further study

To help you avoid repeating what you've already done.

Sample current views in newspapers, professional and trade journals to better understand which aspects of your issue and goals are considered newsworthy and relevant.

Explore and provide insight into research methods, strategies, and techniques that may be relevant to your own research questions and goals.

(Mark Saunders, Philip Lewis and Adrian Thornhill p74)

6.3 Impact of COVID-19 to SMME

The global outbreak of COVID-19 in late 2019 triggered an unprecedented crisis that quickly spread to economies and societies around the world. As countries grapple with the health effects of the virus, another daunting challenge has emerged: complex and multifaceted impact on small, medium and micro enterprises (SMMEs). These businesses, often the cornerstone of the local economy, have become at the heart of economic instability, supply chain disruptions and changing consumer behaviour. The pandemic's profound consequences for small and medium-sized businesses have sparked renewed interest in academia, prompting researchers to delve into the complex interplay of fate-shaping factors pandemic. The COVID-19 pandemic has had significant impacts on small and medium-sized businesses worldwide, leading to an increase in research on the topic. Studies explore different aspects, including economic, social and policy related aspects. Key topics and insights include:

6.4 Economic Impact Economic growth has been negatively impacted by the precarious financial situation of small and medium enterprises. The result is a stagnant labor market, with high unemployment. SMEs are struggling to survive due to the rapid spread of COVID-19 and have reduced their operating income. SSMEs are unable to repay their loans on time and cannot survive with the funds in their accounts because they do not have enough funds to survive. As soon as the COVID-19 pandemic ends, the negative impact on the economy will not go away. SMEs will continue to face long-term recovery challenges and pressure to survive and thrive as the economy continues to recover. (Enwereji, P.C., 2022.)

6.5 Digital conversion

The digital transformation of SMEs must be supported by government and stakeholders. It aims to change the company's business and operating model in the right direction to rank in the digital maturity categories. Digital transformation can work if SMEs are involved, e.g. offering products through social media, discounts, etc. Digital transformation can be done effectively by ensuring that businesses remain competitive, delivering efficiencies in business processes, increasing customer satisfaction, and making it easier for entrepreneurs to make informed decisions more business strategy.

The role of SMEs is supposed to boost a country's economy, however, since the COVID-19 pandemic, SMEs are the most vulnerable compared to the rest of the world other businesses. This is because this type of business relies heavily on the speed of cash flow from the sale of goods, so a drop in demand disrupts the cash flow of the business. As asolution, a digital approach is needed to have atransformation.

To avoid a sharp drop in revenue, the government has prepared a measure to encourage the survival of small and medium-sized enterprises by delaying repayment to banks and helping to resolve complaints such as distribution of goods and services disruption and other problems. The Sustainability Framework is designed to accelerate SME-based digital transformation to facilitate literacy for business actors during the COVID-19 social distancing period, as it is displayed in figure 1.

Figure 1. A new business model innovation for SMEs based on digital transformation. Source: [17].

6.6 Policy and Support Measures

Policy tools that can be used to mitigate the impact of COVID-19 on SMEs and contribute to the rapidly growing literature studying the economic consequences of the pandemic.

Several articles use survey data to study key business challenges and responses to the COVID-19 crisis.

Some use stock market prices to directly assess the impact of the crisis on the performance of listed companies with different characteristics.

Several studies examine the impact of political announcements on the expectations of individuals and SMEs.

Others study the impact of stay-at-home orders and economic stabilization policies on employment and consumption

A one-time transfer improves the expected survival of companies, but does not improve their operational efficiency.

Reducing payments can ease liquidity constraints for SMEs, which is proving to be one of the main concerns of businesses

Support small and medium enterprises to reopen; that fiscal policy does not always have the desired effect in directing resources to financially vulnerable people; and lockdowns, which turned out to reduce consumer demand.

Policy overview Stabilization and containment policies were first proposed and enacted at the local level.

Stabilization policy: alsobriefly discuss tax deferral policies in: Reduced rent: This policy typically grants one to two months of reduced rent to commercial tenants renting state-owned properties. In contrast, private property owners have been encouraged,rather than required, to negotiate rent reduction terms with their tenants. We identify a city that isimplementing rent reductions, if exemptions are granted to SMEs unconditionally. Social Security/tax deferral. Companies are required to pay social security contributions to their employees and face a common base employee salary. Credit guarantee support: Credit guarantee programs are designed to help small and medium-sized businesses access bank loans and are used by more than half of the world's countries. Loan support: The loan assistance policy involves one or more of the following: direct credit, interest subsidies, risk premiums, and deferrals. The first refers to increasing the number of loans to private companies or issuing emergency loans tosmall and medium enterprises. Lock-down policies: Containment policies were quickly implemented nationwide, both at the provincial and municipal levels. At the provincial level, intercity and intercity highways have been partially closed to limit traffic. At the city level, social distancing policies have been put in place to reduce human contact. Provincial road closed: some provinces have moved to reduce traffic on inter-provincial and inter-provincial highways. These measures include the closure of entrances, exits and tollgates on highways, as well asmandatory cargo and cargo checks, thereby significantly limiting the flow of goods between areas. City-wide quarantine: Many social distancing policies are implemented by the city government, two prominent measures are the most widely applied: 1) The closure of residential communities, and 2) The closure of local public transport.

IMPACT OF COVID-19 The Use of Social Media Transaction Monitoring Stock Availability Well-Maintained Cash Flow Rebudgeting