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Resilience of rural micro-businesses in an adverse entrepreneurial environment: adapting to the energy crisis

Resilience of rural micro-businesses in an adverse entrepreneurial environment: adapting to the... This study aims to examine the potential adaptability and resilience of rural micro-businesses within a business environment affected by successive crises, specifically drawing conclusions on crisis management, while simultaneously highlighting enterprises’ capabilities in managing the current energy crisis, basis the experiences and best practices that they themselves have gained previously.Design/methodology/approachConvenience sampling was applied, effectively identifying 18 micro-entrepreneurs in rural Greece. Subsequently, qualitative research was conducted through semi-structured in-depth interviews.FindingsRural micro-businesses have shown adaptability and resilience to both economic and health crises through financial support received and interventions implemented. However, different crises’ types carry different business risks. The energy crisis has led to business operation’s energy costs and raw material prices multiplying exponentially. Additionally, they received limited financial support causing them to respond to the energy crisis though concrete defensive strategies and innovative interventions.Research limitations/implicationsFuture research should examine local bodies and trade unions’ perception on the energy crisis’ impact towards rural entrepreneurship.Practical implicationsThe findings are useful to Greek and European policy-makers and rural micro-entrepreneurs as the experience of dealing with several previous crises can be a useful tool when dealing with current and future crises.Originality/valueThis paper adds to international literature on rural micro-businesses resilience, operating in crisis mode. Additionally, it constitutes novel research exclusively focused on the new challenges faced by rural micro-businesses during the recent energy crisis. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Enterprising Communities: People and Places in the Global Economy Emerald Publishing

Resilience of rural micro-businesses in an adverse entrepreneurial environment: adapting to the energy crisis

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References (159)

Publisher
Emerald Publishing
Copyright
© Emerald Publishing Limited
ISSN
1750-6204
eISSN
1750-6204
DOI
10.1108/jec-08-2023-0144
Publisher site
See Article on Publisher Site

Abstract

This study aims to examine the potential adaptability and resilience of rural micro-businesses within a business environment affected by successive crises, specifically drawing conclusions on crisis management, while simultaneously highlighting enterprises’ capabilities in managing the current energy crisis, basis the experiences and best practices that they themselves have gained previously.Design/methodology/approachConvenience sampling was applied, effectively identifying 18 micro-entrepreneurs in rural Greece. Subsequently, qualitative research was conducted through semi-structured in-depth interviews.FindingsRural micro-businesses have shown adaptability and resilience to both economic and health crises through financial support received and interventions implemented. However, different crises’ types carry different business risks. The energy crisis has led to business operation’s energy costs and raw material prices multiplying exponentially. Additionally, they received limited financial support causing them to respond to the energy crisis though concrete defensive strategies and innovative interventions.Research limitations/implicationsFuture research should examine local bodies and trade unions’ perception on the energy crisis’ impact towards rural entrepreneurship.Practical implicationsThe findings are useful to Greek and European policy-makers and rural micro-entrepreneurs as the experience of dealing with several previous crises can be a useful tool when dealing with current and future crises.Originality/valueThis paper adds to international literature on rural micro-businesses resilience, operating in crisis mode. Additionally, it constitutes novel research exclusively focused on the new challenges faced by rural micro-businesses during the recent energy crisis.

Journal

Journal of Enterprising Communities: People and Places in the Global Economy – Emerald Publishing

Published: Oct 28, 2024

Keywords: Rural micro-business; Resilience; Energy crisis

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