Small and medium businesses (SMEs),
sometimes known as start-ups, are the engines of every
economy. The Corona Virus pandemic has quickly
escalated into a global issue that has wreaked havoc on
small businesses. As a result of the virus, start-ups are
either shutting down or shrinking. This explains why
small businesses lack the capital to defend themselves
against the financial consequences of the pandemic.
Many have extrapolated that the coronavirus
pandemic has been more devastating to the financial
system than the latest recession of 2008. The present
day's chaotic economic environment is the reason startups fail at a higher rate. Then again, start-ups which
innovate in difficult periods, including the pandemic, are
also at risk of high tiers of fulfilment.
To help start-ups stay in enterprise and combat the
negative situations, this article identifies the challenges
start-ups come upon due to COVID-19, and offers
progressive, realistic, and tactical strategies to navigate
the risks and uncertainty that come with the pandemic in
Africa. Zambia will be used as the primary instance in
This paper is written since, currently, most of the
literature on COVID-19 concentrates on healthy topics
with restricted publications on start-ups. In addition,
there's no literature on how the pandemic has affected
countries in Africa, consisting of Zambia. We illustrate
how start-ups must mitigate the effects of this crisis
through strategic improvements, particularly alliances
and partnerships, pivoting, commercial enterprise
mapping, and low-putting results. Then we identify the
challenges encountered, particularly in finance, human
assets, support offerings, and confined supply chains.
Lastly, we defined measures that would be adopted by
policymakers to assist start-ups facing challenges in
surviving the pandemic environment.
Start-ups, demanding situations, COVID-19, innovative, Strategic, Zambia.