NAME OF THE MODULE: 314MAN BUSINESS MANAGEMENT AND LEADERSHIP PROJECT
TITLE OF THE ASSESSMENT: THE NEGATIVE IMPACT OF Covid 19 ON SMALL BUSINESSES IN THE UK DURING THE LOCKDOWN
ASSESSMENT NUMBER: 2
WORD COUNT:
Table of Contents
Research Topic:    3
Abstract:    3
Introduction    3
Aim, Objectives and Research Questions    4
Research Aim    4
Research Objectives    4
Research Questions    4
Methodology    5
Types of Investigation    5
Data Collection Methods and Sources    5
Validity, Reliability and Significance    5
Review of Literature    6
Themes    6
Theme 1: Mental Health    6
Theme 2: Entrepreneurial and Economic Growth    6
Theme 3: Finances    7
Theme 4: Adopting Technology: Need or Compulsion    8
Data Analysis    8
Evaluation of Findings    9
Conclusion and Recommendations    10
Summary of Findings    10
Recommendations    10
References    11
Research Topic:
The topic of the research is “The negative impact of Covid-19 on small businesses in the UK during the lockdown”.
Abstract:
Small businesses are lifeline of an economy in a way that they are supporting to the big units (Akpan, Soopramanien and Kwak, 2020). They are ancillaries, they manufacture small parts, provide services and a part of supply chain management system. It is true that no business whether big or small is able to escape the impact of lockdown. The smaller businesses were severely hit (Liu and Lin, 2021). In this research, we will discuss about the negative impact on them with an objective to find a solution to lessen the effects of it. Various themes will be reviewed based on literature available for the study so that the intensity of the impact can be analysed. The finding from the research will be evaluated specifically for small business and the recommendation will be framed so that government and business owners can fuel the growth by implementing it. It will also be helpful in extending the research further and open new dimensions to study it (Wylie, 2021).
Introduction
Small businesses are considered as backbone of UK. They are responsible for creating new markets, contributing in growth and providing employment. The rationale for selecting small businesses is that it is the place where unskilled and semi-skilled labour get job easily and competitive payouts. Therefore, it is important to be researched, as they are also the centre for innovations and challenge many traditional practices in the industry. It is evident that many bigger technologies were discovered in small rooms and reach to the bigger corporates. According to Akpan, Soopramanien and Kwak (2020), small business reaped huge monetary benefits out of it and expanded later on in many cases.
However, more importantly, this is a significance area of research because the negative impact of Covid-19 has covered several miles from Wuhan, China to reach different parts of the world. It has negatively affected the whole world. The massive shutdown has created economic downturn in every country. Tourism, textile, small business owners all got affected. Those who survive on daily wages were forced to migrate their native towns. It created disruption in the industry. Big manufacturing units are dependent on small business for their ancillary requirements. Small businesses are not allowed to get open and if somehow they got permission, the unavailability of labour has created havoc.
The supply chain is also interrupted leading to severe delay and abnormal hike in prices for the services. Pubs and restaurants owners, people who are majorly traders and beauty salon owners dealing with high costs in their business. Of course, the severity depends upon region and varies accordingly. It has created uncertainty about growth being on track in near future. If they increase the cost of services, consumers will not step in. The financial challenges are not easy to tackle in this financial year.
Not only that, but this is a major research area because due to Brexit and pandemic happening more or less at the same time, small businesses have witnessed reduced revenues and employment shortages. In addition, setting up new businesses will be a task as market is not ready. The revival measures post lockdown are high required to infuse life and motivation in the system. This research project will deal with several similar factors, which are responsible for deteriorating the health of small businesses in UK. It will also reflect the consequences in near future on the overall economy of the country.
Aim, Objectives and Research Questions
Research Aim
The aim of this research is to analyse critically the negative as well as the positive impacts of Covid-19 on the small businesses in the UK during lockdown, in the specific context of the shoes manufacturing companies.
Research Objectives
· To analyse the impacts of Covid-19 pandemic on the UK
· To analyse comparatively the functioning of small businesses in the UK in pre-Covid and post-Covid eras
· To analyse the positive and negative impacts of lockdown due to Covid-19 pandemic on small business companies in UK
Research Questions
· What are the major impacts of Covid-19 pandemic on the UK?
· How has the functioning of small businesses in the UK been affected in the post-Covid era as compared to the pre-Covid era?
· What are the positive and negative impacts of lockdown due to Covid-19 pandemic on small business companies in UK?
Methodology
Types of Investigation
In order to do structured research it is important to follow the steps, which can lead to the successful conduction of it. For the given research project, the prevalent situation at the global level and at the country level is considered. The research design has been selected because this particular research design is analytical and descriptive in nature. On the other hand, the explanatory and exploratory styles are used to focuses on the theme of the research (Panzone, Larcom and She, 2021). Explanations are based on the data and facts noted whereas available information is explored through various sources. Hence, these research designs have not been selected.
Data Collection Methods and Sources
The secondary research method is used to collect the data, as it is available in ample amount on the internet (Lea, 2020). The research papers published by experts in the field are quite helpful to conduct the study. The present business scenario of UK is considered as case study and based on it and relevant literature the themes are analysed. There were limitations related to primary research such as due to pandemic and restrictions on social interaction it is practically not possible to reach business owners, which is why primary research methodology was not selected. The time constraints to complete the research within due guidelines was also present.
Validity, Reliability and Significance
The sources referred are reliable and authenticated as they were scholar...