THE RESILIENCE AND RENEWAL STRATEGIES EMPLOYED BY MACAU'S SMALL BUSINESSES TO SURVIVE AND THRIVE DURING THE COVID-19 CRISIS: A COMPREHENSIVE REVIEW

The COVID-19 epidemic presented unparalleled difficulties for small enterprises on a global scale, and the small company sector in Macau was not exempt from these issues. The present research examines the resilience and renewal tactics implemented by small enterprises in Macau to endure and prosper during the COVID-19 pandemic. This study investigates the varied reactions and adaptation strategies implemented by small enterprises in Macau using qualitative research methodologies such as interviews and case studies. The results demonstrate a variety of resilience solutions, encompassing inventive business models, digitalization, product and service diversification, stakeholder collaboration, and utilisation of government support efforts. Furthermore, this study aims to address the influence of organisational culture, leadership, and staff resilience on the crisis response of small enterprises. This study enhances our comprehension of how small enterprises can effectively face unparalleled obstacles and emergemore resilient from catastrophes. The findings from this study have the potential to contribute valuable knowledge to policy interventions, support mechanisms, and capacity-building programs that seek to improve the resilience of small enterprises in Macau and other regions.