CHALLENGES FOR ENTREPRENEURS AMIDST THE COVID-19 CRISIS

There is consensus on the fact that the current crisis that the entire world is facing nowadays is unique and therefore not comparable with the previous ones regarding its effects, challenges it poses or possible approaches in order to effectively address it. COVID-19 crisis has direct implications not only on the global and national health system, but also on the deepest structures of the society, human nature and world economy. The present paper focuses on the major challenges that entrepreneurs from various domains are facing and some of the main approaches they adopted. Considering the novelty of the topic and the ongoing events in the field, the research is based both on scientific literature from academic journals and on the latest news from prestigious magazines, newspapers, news agencies etc. which provide last minute information in the field of economics and business administration. Therefore, after delivering a brief introduction on the COVID-19 crisis, the present paper aims at providing an overview of the main challenges faced by various entrepreneurs with a special focus on the Romanian business environment. Next, it presents various approaches of these challenges adopted by entrepreneurs within the broader framework of national and global support schemes. It also tries to envision new emerging trends in the entrepreneurial field which might extend beyond the crisis period and (re)shape the business model of existing and new enterprises.