Problems and survival strategies for companies during the COVID-19 crisis

Introduction. The COVID-19 pandemic had a significant impact on the business environment, respectively the national income decreased significantly, many companies closed activity, many employees were laid off, orders fell, companies registered a deficit in cash flow, lack of supply with materials, decreased demand and cancellation of contracts. Companies have reacted differently to the COVID-19 pandemic by shutting down, making bank loans, dismissing employees, reducing employees’ salaries, temporarily or completely closing the activity.

Aim of the study. The paper aims to make a radiography of the main problems encountered by companies during the COVID-19 pandemic and the short-term reactions for mitigation of shocks and survival and reorganization strategies in the post-pandemic period. In order to achieve the goals of the article, the authors used a research methodology based on the collection, analysis and synthesis of quantitative information from several secondary sources through desk research. The article shows that the impact of the pandemic was asymmetric on the business environment and companies had some common problems and differentiated responses to the crisis depending on the specifics features of the industry.