Business Strategic Formula for SMES in Ecuador to face COVID-19

Given the heartbreaking consequences generated by the COVID-19 pandemic, the government of Ecuador took economic and social measures to prevent massive infections. However, small and medium-sized companies decided to keep operating. Since most families depend entirely on their economic efforts and before succumbing, they prefer to take risks and solve their immediate basic needs to the best of their ability, even if it implies possible contagion. Given this, the objective of this work is to establish the business strategies implemented by small and medium-sized companies in the Republic of Ecuador in the framework of the COVID-19 pandemic. In this sense, a type of documentary research has been used, going to institutional, governmental, and business sources in that country. The information extracted was filtered and analyzed with the content analysis technique. It is concluded that SMES need to meet their social needs and the economic requirements imposed by the national and international markets. For this, three interactive strategies were designed: to preserve health and adapt their actions to technology, to stimulate the ability to adapt to adversities, and to insert employer's directions with sustainable development goals.