How Has COVID-19 Impacted the Business Performance of Sri Lankan Firms: A Qualitative Inquiry
Key finding of the study
The financial condition was categorized into main sub-themes such as business profitability, liquidity problems, the balance of payments, working capital, and cash flows and was highly impacted during the COVID-19 outbreak.
Authors
Narayanage Jayantha Dewasiri, Sabaragamuwa University of Sri Lanka
Nawalage Shashini Piyumika Perera, Sabaragamuwa University of Sri Lanka
WAID Wijerathna, Sabaragamuwa University of Sri Lanka
PGS Amila Jayarathne, University of Sri Jayewardenepura
Vithiyalani Muthusamy, Sabaragamuwa University of Sri Lanka
Simon Grima, University of Malta
Summary
This study aims to investigate the impact of the COVID-19 pandemic on businesses, their operations, and the financial conditions in Sri Lanka. It demonstrates the insecurity of the current business situation, as with the pandemic, most large-scale operating companies have been permanently or temporarily closed. The financial condition was categorised into main sub-themes such as business profitability, liquidity problems, the balance of payments, working capital, and cash flows and was highly impacted during the COVID-19 outbreak. The findings of the study help to improve the favourable image of Sri Lankan companies by facilitating solutions to overcome the challenges and difficulties. They are beneficial for the relevant government parties to amend policies and for investors to make prudent investment decisions.
Published in
Book Title: Digital Transformation, Strategic Resilience, Cyber Security and Risk Management
Link to the article