Assessing the Impact of COVID-19 on Edinburgh's Business Community

Fascia, Michael

Abstract

This study explores the multifaceted impacts of the COVID-19 pandemic on the business community in Edinburgh, highlighting how different sectors have responded to unprecedented challenges and adapted to new business environments. It provides an in-depth examination of the economic repercussions, including significant revenue declines, sharp increases in unemployment, and a high rate of business closures, particularly among SMEs. The study also investigates substantial shifts in consumer behaviour, with a marked increase in online shopping and prioritization of essential goods and services. Additionally, it analyzes the accelerated transition to digital platforms, emphasizing the benefits and challenges of digital transformation. Resilience strategies employed by businesses, such as innovation and adaptation, are discussed, along with the critical role of government support measures like direct financial aid and wage subsidies in sustaining businesses during the crisis. By utilizing a combination of qualitative and quantitative methods, this analysis offers a robust understanding of the pandemic's effects and provides valuable insights for policymakers, business leaders, and stakeholders in planning for recovery and future growth.

Citation

Fascia, M. (2024). Assessing the Impact of COVID-19 on Edinburgh's Business Community

• Working Paper Type: Preprint
• Online Publication Date: Aug 27, 2024
• Publication Date: 2024
• Deposit Date: Sep 1, 2024
• DOI: https://doi.org/10.2139/ssrn.4904257
• Public URL: http://researchrepository.napier.ac.uk/Output/3795392