Abstract
This study examined developments in the seed funding landscape and the opportunities and challenges faced by SMEs during the COVID-19 pandemic, with a focus on the UK. Semi-structured interviews with investors and business owners revealed that reduced customer demand, limited supply chains and restricted start-up finance are key issues facing SMEs but epidemic provided new opportunities for entrepreneurs who quickly changed course and modified Government support schemes like Bounce Back Loan Scheme (BBLS) and Coronavirus Business Interruption Loan Scheme (CBILS) have also shown significant performance.
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The COVID-19 epidemic has had a profound effect on economies around the world, upending long-standing corporate structures and forcing industries to reevaluate their strategies and operational procedures. There has been ambiguity regarding the trajectory of COVID-19 and its long-term health and economic consequences from the outset. At the time, officials were unaware of the virus’s potential economic implications or the possibility of a pandemic (McKibbin and Fernando, 2023). Small firms which sometimes have few resources and rely largely on seed investment to support development, are among those most affected (Harel, 2021). It led to a number of issues, including a decline in business activity, temporary business closures, personnel issues, and supply chain interruptions.
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