Business performance during the COVID-19 crisis: a major contribution of entrepreneurial resilience

Abstract

COVID-19 affected the entire world, culminating in a devastating worldwide disaster. The crisis had a major impact on Indonesia, both in terms of health and economic concerns. As economic support in Indonesia, micro, small and medium-sized enterprises (MSMEs) are also impacted. This study was carried out in the West Java Province, including respondents among MSME actors. The aim of this study was to see how entrepreneurial resilience and self-efficacy affected company performance during the COVID-19 crisis. To assess the connection between variables, this research technique uses a quantitative methodology. The partial least squares path modeling (PLS-SEM) is used to validate the model's hypothesis, which is based on its association in a literature study done by numerous prior researchers. The findings of this study show that, as compared to entrepreneurial self-efficacy, entrepreneurial resilience has a substantial impact on MSME company performance during the COVID-19 pandemic. Based on the evaluation of the results of the research on the resilience of MSME owners, it must be supported by external variables such as government policies.