Examining COVID-19's Impact on Small Businesses: Home Bake Case Study

This dissertation investigates the impact of the COVID-19 pandemic on small businesses in the UK, with a specific focus on the Home Bake company. The research aims to understand how COVID-19 affected small businesses, the ways in which Home Bake was impacted, and the strategies employed to mitigate the negative effects. The study includes a literature review exploring the consequences of COVID-19 on UK small businesses, changes in the food industry, and strategies for overcoming the pandemic. The methodology outlines the research methods used to collect and analyze data, and the results section presents the findings, potentially through statistical analysis, graphs, and charts. The discussion section interprets the results, and the conclusion summarizes the key findings and limitations. The research provides insights into the challenges faced by small businesses during the pandemic and offers potential strategies for recovery and resilience.

Dissertation
Title: To examine the impact of COVID 19 on the small businesses: Case study on Home
Bake
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Table of Contents
INTRODUCTION...........................................................................................................................3
Research aim................................................................................................................................3
Research objectives.....................................................................................................................4
Research questions.......................................................................................................................4
Significance of the Dissertation...................................................................................................4
The Research statement...............................................................................................................5
Structure of research....................................................................................................................5
Research problem........................................................................................................................7
Rationale of for conducting research...........................................................................................7
LITERATURE REVIEW................................................................................................................8
Consequences of COOVID-19 on small business forms in UK......................................................8
Influence of COVID-19 in changing the food industry.............................................................10
Strategies for facing COVID-19 for eating establishments.......................................................11
Primary plans of small businesses firms in successfully overcoming negative effects of
COVID-19.................................................................................................................................13
RESEARCH METHODOLOGY..................................................................................................15
CONCLUSION..............................................................................................................................19
REFERENCE LIST.......................................................................................................................21
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INTRODUCTION
In current coronavirus pandemic situation, the entire business world is highly affected in
unfavourable manner. COVID 19 and the resulting economic volatility have had an important
influence on small business crosswise the UK. The pandemic threatens the mental wellbeing of
the small businesses owners and self-employed which make up the backbone of the nation’s
economy in unprecedented forms (Bartik et. al, 2020). This matters on more than just a personal
level, as when small businesses’ owner feel well, they are more persistent, productive and
innovative as well as their business perform and operate in effective manner. Small business
makes an effective contribution in the economic development of UK which is account for 50%
of the total profit generated by UK businesses (How the COVID-19 crisis is affecting UK small
and medium enterprises, 2020). However, the current pandemic situation, causing a crisis that
highly affects the small businesses. The current dissertation will also cover information about the
impact of COVID 19 on the small businesses. For the completion of this research, Home Bake is
considered as organisation. The company is associated with providing baking gifts, online baking
kits in UK. This was incorporated in 2016, with a view to helping others create delicious baked
goods at home. It is situated in Queen St in the stunning historic town of Southwell,
Nottinghamshire. They offer a range of goodies, from ready to roll icing in a rainbow of colours,
to cake toppers and edible glitter. Also, they are always on hand to provide advice and direction
with any project from piping to a tiered wedding cake. This organisation is selected for
conducting this report as Home Bake is such SME which has faced higher impact of COVID.
Along with this, the current research assessment will consider information about the
research aim, objectives and research questions, background, significance of the dissertation and
the research statement. Furthermore, the report will explain about the research framework,
research problem and the statement of the study. In the last, a brief summary will explain about
the specific area and theme of the research in an appropriate form. COVID has given high impact
to the business of Home Bake so this research will be helpful in developing major insight related
to enhancing business operations.
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Research aim
The main purpose of this research is determine the information about the influence of the
current pandemic situation on the small businesses in UK which are situated as high street,
particularly focusing on investigating the impact of COVID-19 on Home Bake.
Research objectives
· To understand the impact of COVID 19 on small businesses and Home Bake.
· To investigate the different ways in which Home Bake has been affected by the impact of
COVID 19.
· To explain the different strategies and plans that can be considered by Home Bake in
order to overcome the impact of COVID 19.
· To evaluate the effective strategies that can be used by small businesses in order to
recover from the COVID 19 impact.
Research questions
· What is the impact of COVID 19 on small businesses, particularly focusing on Home
Bake?
· What are the different ways through which Home Bake was affected by the impact of
COVID 19?
· What are the different strategies that can consider by Home Bake in order to overcome
the impact of COVID 19?
· What strategies have been effective strategies which small businesses have used to
overcome the impact of COVID-19?
Significance of the Dissertation
The key essentials of this research study is that it will provide deep and brief information
about COVID 19 and the impact of it has been seen on small businesses and their operational
activities as well. The purpose of the project is to test the independent research abilities that
investigator have obtained during their time of performing regarding project (Bartik and et. al.,
2020). Additionally, this dissertation is significant as it provide the exploration, discretion and
explanation about the chosen area of research. As well as this study is crucial because it provide
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detailed information about the impact of pandemic situation which highly affect the small
business like Home Back, this is significant for the researcher because it enable in developing
research skills of individual and offering knowledge about different area which helps researcher
to develop major aspects as well. Along with this, it will be beneficial for the investigator in
future when the individual will perform regarding similar kind of research project. Then it will
provide an effective support to researcher in meet the research requirement in developed manner.
The main significance of this research is to offer information about the research problem so that
further research can be conducted in effective manner (Fairlie, 2020). Also, it is important
because the research can discuss the implications of the potential outcomes that based on the
research questions and problem statements or the phenomenon of research. This research is
significant as it will enable businesses to look at strategies on how they have recovered the
global pandemic.
The Research statement
This current research and dissertation is outlined the information and study about the area
of impact of COVID 19 pandemic on the small business of UK. With the use of effective tools
and techniques, information has been collected about the research topic that how this pandemic
situation affect the business of Home Bake, Along with this, the key statement of it is the to
explain the information about the measures and strategies which are considered by the small firm
in order to deal with the challenges of epidemic. In order to collect data in order to meet the aim
and objectives of the research, the individual set goals. For example, to collect information
regarding the deigned objectives by using effective methods and tools as well as techniques of
research and data collection so that appropriate findings can be collected in appropriate form.
Along with this, the goal of this investigation is to briefly monitor and examine the impact of
existing pandemic situation which imposed the unfavourable impact on small businesses in
different manner like reducing profits, consumer base, sales and many more (Humphries,
Neilson and Ulyssea, 2020). Along with this, the research statement is crucial because it offers
some guidance in setting up a research questions and serves as an introduction to the resultant
dissertation. Additionally, this statement of research will support the research in structuring the
research as per the designed aims and objectives in more significant manner.
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Structure of research
The research framework supports theory of the research study which in the case is impact
of COVID-19 on small business firm. This current research project will consider different
sections like Introduction, Literature review, methodology, results, discussion, result and
discussion, conclusion and limitations. Within the introduction part, the investigator will explain
information regarding research aims, objectives and questions on the basis of research title and
topic. Moreover, this segment considers information about background of the research by
explaining the COVID 19 and its impact on business as well as the selected business which
suffer the issues of this pandemic. Additionally, the description is also provided about the entire
research framework (Cavallo and Forman, 2020). The introduction part is also covering different
topics like rationale of research, significance of research, statement of study, research problem
and brief summary. The rational segment demonstrates about the reason behind conducting
research about the particular area of investigation. Whereas the significance area explain the
usefulness and essentialness of the research and how can be useful in context of researcher.
The literature review section will provide a brief explanation about the selected area of
research. The literature review focuses on identification of effect of COVID-19 on small
business organisation in the UK with information related to the impact of strict trade restrictions
imposed by the British government on the small and medium enterprises in UK. In addition to
this the literature review looks at the impact of COVID-19 on small business organisation
operating in the food industry with specific focus on eating establishment. This is the specific
industry as the selected organisation Home Bake is small enterprises which is a part of the
British food industry. The strategies for reducing negative impact of COVID-19 on small
business enterprises is also provided in this section of the research. Main strategies covered here
are suitable for small business enterprises. Evaluation of success of these strategies is also
provided in this section with the aim of identification of their contribution in helping small
business enterprises recover from COVID-19 .Methodology section considers information about
different research methods and tools which are considered by the researcher in order to collect
information with the aim of meeting the requirement of research objectives. The result section
will consider information in statistical, graph and charts form. The results from this section are
helpful in understanding the effects of COVID-19 on small business enterprises operating in the
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British food industry with specific focus on eating establishment. Objective data a out various
strategies adopted by small and medium-sized sized eating establishment of UK to survive in the
pandemic is provided through this part of the investigation. This is helpful in understanding
effectiveness of various strategies. Discussion describe about the interpretation of the elements
which mention in the results section. Results and discussion will cover information of findings
and discussion in accumulation form. In the end, conclusion of the whole project will present and
limitations of the research will explain that face by the investigator in order to meet the
expectations of the research or dissertation.
Research problem
In current project or dissertation, the research will present information about the impact of
COVID 19 on the small business of UK. In addition to this includes description of the impact of
COVID-19 on various business aspects of small firms in UK, the steps taken by surprise small
firms and the impact of financial aid provided by the government to small businesses firms. Food
industry in particular is selected for understanding the changes created by COVID-19 on the food
industry. The eating establishment sector in particular is the focus of identification of change
made by COVID-19 on food industry. Strategies for small business enterprises from food
industry in particular to survive in the pandemic is also provided in this section. Furthermore,
strategies assisting small business organizations in financially recovering from the negative
impact of COVID-19 are also provided in this part of the research. Within this study, the
research will further to get more information about the research topic and problem. In addition to
it, this section also consist the information about the issues which are faced by the researcher in
order to organize and conduct investigation in more appropriate form. So within this current
project, the surveyor can face issues regarding time, cost and collection of data (Ferneini, 2020).
This research is based on an important topic which requires more and detailed information to
meet the objective of it. So in context of it, the individual can face lack of time issue because the
person can be required more time to present an appropriate study. Apart from this, the researcher
can need more cost so that the data can be collected in efficient manner with the support of
appropriate equipment.
Rationale of for conducting research
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The reason behind the organizing this research is to get brief information about the impact
of COVID 19 and analyses the influence of corona virus pandemic over small business firm. By
conducting this research, the barriers faced by small business organisation can be determined, the
impact of COVID-19 on small business forms operating in the food and confectionery industry
can be understood in profound manner. Also reason is that the person can assess the strategies
and plans which are used and opted by small business in order to deal with influence of current
epidemic (Tkach and Kurpayanidi, 2020). With the organisation of this study, investigator can
monitor the significance the strategies which are imposed by small businesses to deal with its
impact in long run. It is also beneficial for the research at personal level, because working
regarding this research project, the individual can make development and enhancement in
knowledge and information about particular topic. Moreover, this also beneficial for the
individual to make improvement in different skills like research ability, time management,
technical skills and many more. This research is useful in gaining an understanding about
process of completing a research in a timely manner which will assist in effective completion of
the any future research.
LITERATURE REVIEW
Consequences of COOVID-19 on small business forms in UK.
According to Dimson and Sharma (2021) many small business forms in Britain had been
struggling to make enough money to cover daily expenses. The strict trade restrictions imposed
by the UK government had demotivated small business owners last year as they feared that their
business might not be able to recover from the pandemic. 52% of the 653 small business owners
surveyed by the authors stated that if the conditions remain the same, there firm will have to
wind up their business in less than timespan of twelve months. This has direct effect on the
British economy as SME account for 50% of the total revenue generated by UK based
organizations. According to Zacher and Rudolph (2020), The November 2020 survey depicted
improvement in revenue of SME but the pandemic has been for certain industries as the
respondent stated no sign of financial recovery. One of the worst hit industries suffering
financially from the spread of COVID-19 is the food and accommodation industry. The survey
respondents from this industry stated that there were no improvements in revenue generated in
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November as compared to May 2020. The education and wholesale industries showcased similar
pictures as small business owners from these sectors faced unimproved situation in terms of
increased revenue. According to Sikder, Zhang and Ahmod, (2020), The November 2020 survey
depicted that small business owners are optimistic about future of their business as they fell that
the economic conditions of the country will recover after reduction in COVID-19 cases. The
main impact of the COVID-19 pandemic has been on the economic situations of the small
business owners.
According to Wang and et. al., (2020), Mutation of virus to form a new variant large
amount of cases lead to imposition of strict business restriction which created dire situation for
UK small business owners. This resulted in some industries such as the food and accommodation
industries not being able to make enough earnings to repay loans or leases. The optimism
surrounding the better future of the lockdown will either be elevated by effective distribution of
COVID-19 and financial assistance from the government government or decreased by extended
lockdown and spread of the new variant of the virus. According to Dahlberg and e. al., (2020),
Employment opportunities at small business organisation in UK is also affected by the spread of
COVID-19 virus. This impact is faced by both small and large scale organisation by small scale
organisation. It is found that many small business firms are aiming to furlough some of their
staff as a measure for reducing the loss the economic adversity created by the spread of the virus.
According to Barkalov, Averina, Avdeeva and Lavrova, (2020), In addition to this
respondents of the survey have stated that by November on an average 23% of their staff had
been laid off because of low revenue of their enterprise. Low economic activity in Britain due to
the pandemic has affected the growth strategies of many small business organisation. Instead of
seeking growth opportunities, small business firms are currently focusing on ensuring that the
earn enough income for completing their daily business activities. According to Ratten, (2020)
They have to postpone various growth prospects in order survive such adverse conditions and
recover from the negative effects of such conditions as soon as the British corporate world
returns to normalcy (UK small and medium-sized enterprises: Impact of the COVID-19 crisis,
2021). According to Park and et. al., (2020), Financial aid provided by the government is helpful
for many business owners to keep their business running during such low economical
environment. Many small business organisation are aiming to apply for the furlough plan of the
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British government while others are planning to get a loan to secure financial resources for an
uncertain future. The furlong scheme of the British government provides financial aid to cover
some parts of the employee remuneration of workers on temporary leave (furlough). According
to Sharma, (2020), This is also known as employee retention and is implemented in order to help
firms affected by the COVID-19 pandemic. The uncertainty related with the COVID-19 virus is
another factor which has demotivated small business organisation about future development.
Deferral of tax payment is another type of government assistance which is helping small and
medium businesses survive in the current situation.
Influence of COVID-19 in changing the food industry
As per the view of Nunn (2020), the COVID-19 pandemic has affected the British food industry.
It is because of the widespread virus infection that the food industry is facing transformational
change which includes restaurants, eating establishment and confectionery. The impact of this
pandemic has made a long lasting impact which will be seen even after the pandemic is over.
According to Boelens (2020), During the lockdown, imposed by the UK government restaurants
and eateries all across UK were closed down. This effect of the lockdown can be directly seen on
the food industry as London which is the food metropolis of UK had all of the restaurants closed
down because of the restrictions of COVID-19 lockdown. According to Al‐Thaqeb, Algharabali
and Alabdulghafour (2020), COVID-19 has shown various defects in the British food industry
and primary the eating establishment located across the country which makes this sector
vulnerable to sudden environmental change. Tight cash flows, high overhead and reliance on
tourism are some of the aspects of small restaurant and eating establishment in London which
have led to decrease in profitability during the pandemic (Restaurants will never be the same
after coronavirus- but that may be a good thing, 2020). According to Etemad (2020),
Confectionery, bakery, restaurants, eateries, coffee shop and other small businesses rely on
income from tourism to gain profitability. This source of income completely stopped after global
spread of the pandemic which had negative impact on small eating establishment of UK. The
pandemic has resulted in closing of sit down service in restaurants, eateries and confectionery.
This has affected restaurant which use this service as main source of income and establishments
which are able to provide delivery services are seeing huge increase in influx of consumers. The
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pandemic has created work from home situation for many consumers which has affected time at
which online deliveries and orders are made. According to Gigauri, (2020), Consumers are
ordering on weekdays and weekends by a similar amount which has increased orders at
establishment with online ordering throughout the week. In addition to this another change in the
consumer behaviour created by the pandemic is that consumers are taking more time weighing
alternatives in order to select the most affordable and high quality eating establishment.
According to Zaman and et. al., (2020), This change in consumer behaviour is attributed to the
pandemic as the work from have given consumers more time while the deteriorating economic
condition all over the globe has encouraged consumer to spend their time looking at options to
purchase high quality services at affordable price. According to Chohan (2020), This consumer
thinking towards finding value for money has affected the eateries sector as the most firms aim
to provide high quality products at competitive pricing in order to attract consumers. According
to Timmis and Brüssow (2020), Another factor impacting the food industry and primarily the
eating establishment sector is that as consumers have more time on their hands , home cooking
seems the most affordable option for many consumers which were not able to purse home
cooking due to busy schedule. According to Dolton (2020), These types of consumers have
increased competition for eating establishment which only offer cooked meals. In the other hand
organisation which offer ingredients rather than cooked meals such as meal kit firms and
confectionery businesses which provide baking equipment and ingredients Most small eating
establishment in UK do not have sustainable business model which was showcased during the
pandemic and was another reason behind restaurants and eateries closing up. According to
Priyono, Moin and Putri (2020), It is essential for eating establishment to change their ways and
adapt to online ordering so that they can survive the pandemic and recover from financial losses
in a swift manner. This economic and social crisis has changed the English food industry and
will result in evaluating the fundamentals of an eating establishment. A change in the food
industry in Britain which is caused by COVID-19 is that business are focusing on creating
business models which are suitable for eating at home. According to (Pickup (2020), It is
essential for members’ of the food industry to understand reasons behind their vulnerability and
take action to adapt with envious changes in the external environment.
Strategies for facing COVID-19 for eating establishments
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According to Roberts (2020) COVID-19 has created a business environment which is hostile
towards every industry. The food industry and particularly the eating establishment and dining
sector is one of the main industries facing harmful consequences of the COVID-19 pandemic. In
case of small and medium-sized businesses from this sector, the pandemic has created frightful.
circumstances. According to Ajzenman, Cavalcanti and Da Mata, (2020), Small eating
establishment which provide online ordering face high influx of consumers while enterprises
which have limited delivery and online payment options are struggling to survive in this already
competitive sector. It is important for business firms to create and utilize an effective strategy for
surviving such difficult times. According to He and Harris (2020), The primary strategy for a
small business in the eateries business is to utilize technology to gain competitive advantage. In
the digital age consumer expects to order and pay for their food products, cooked meals,
ingredients and equipment with the help of digital medium. Small business firms need to
construct user friendly website which is updated regularly is a necessity to operate in an
environment which does not facilitate in store visitation. According to Pantano and et. al.,
(2020), In addition to this small business owners need to provide navigation facility on their
website which enables consumers to track the progress of their order in real time ( 5 Strategies to
survive the COVID-19 Business environment, 2020) Facilities which assist in contactless
payment, self ordering systems and customer followed engagement loyalty programmes
application which increase consumer visitation are essential pieces of technology for eating
establishment such as confectionery and restaurants.
According to He and Harris,(2020), Usage of digital technology for online payment and
ordering allows small business firms to gain access to consumer contact information such as
phone number and e-mails. This can be used by small business firms to stay in contact with the
consumer. Small and medium-sized eateries need to communicate with the consumer about
special offers and built personalized interactions to gain loyal consumer base. According to
Kuckertz and et. al., (2020), In addition to this the focus of such establishment needs to be on
using communication channels to promote safety and hygiene measure taken at the store. This
will increase consumer confidence in the company and ensure increased revisits by consumers
after dining services are opened. According to Obrenovic and et. al., (2020), Cost reduction is
another suitable strategy for small and medium-sized enterprises operating in the confectionery
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and restaurants industry. According to Bailey and et. al., (2020), The harsh economic conditions
have forced consumers to look for the most affordable options and slightly higher prices can lead
to loss of consumers. This strategy is less of an option and more of a necessity to stay ahead of
the competitors in the current pandemic infested world. It is important for business firms to
utilize competitive pricing strategy as it helps the company survive in turbulent corporate world.
According to Freedman, (2020), Confectionery and meal kit firms which offer uncooked food
items and ingredients can gain success with the adoption of this strategy as many consumers are
focusing on home cooking due to work from home situation.
Providing consumers unconventional offers and creative services is another strategy which is
suitable for this time. This could include offering confectionery products as a batch for baking
particular dish as a combo offer. According to Haleem and Mashroofa, (2020), This will help the
company attract consumers and stand out from their competitors. This is essential for surviving
in an uncertain time. In addition to this, gaining financial aid from the government for
technological improvements or conducting daily operations need to be considered by small
business organisation so that they are able to compete with global firms. According to del Rio-
Chanona and et. al., (2020) Businesses which are able to swiftly utilize new operational
strategies as a response to changes in the external environment will emerge successful from the
current pandemic and make recovery from frightful financial conditions as soon as possible.
Primary plans of small businesses firms in successfully overcoming negative effects of COVID-
19
As per the view of Holloway (2021), in order to overcome the negative effects of the COVID-19
pandemic small business firms need to divert their focus from pondering about the barriers of the
past year to evaluate business operations and formulate an effective strategy for the future. The
primary focus of small businesses organisation is to create strong online presence. According to
Cranmer and Pocklington (2020), The reason for using this strategy is to attract large amount of
consumers to the company and drive online sales. The adoption of this strategy involves creation
of an attractive and easy to access online website. The focus of this strategy is to ensure that
clicks are converted into sales in an effective manner. SEO is an important strategy as it
effectively directs potential consumers to the company website. According to Mashroofa, M.M.,
(2020), Social media content of the company needs to be used in a way which helps the company
stand out from the competition and connect with possible consumers of the firm. Small
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businesses need to identify cost effective ways of social media marketing such as boosted
advertisement and posts in order to gain popularity on social media sites. This strategy is
effective for small business organisation as it is a cost effective method for connecting with the
consumer. In addition to this the increased online purchase is another factor contributing to
increasing effectiveness of this strategy. According to Vasiev and et. al., (2020), The pandemic
has created an environment where consumer and business firms are dependent on digital
technology to communicate with each other. It is important for small business owners to build a
strong online presence in order to survive in an environment where consumers seek and pay
enterprises with the help of online mediums.
Connecting with the local community is another useful strategies which is suitable for small
business enterprises (Covid-19 Survival Guide: 4 Strategies for Small Businesses in 2021, 2021)
This strategy revolves around reaching out to the local community and helping them in various
ways. The charity conducted need not be huge donations but small efforts for betterment of the
community are part of this strategy. In case of small enterprises struggling with making
survivable earnings, community engagement is specifically effective. The reason behind this is
that local community recognises these efforts and are inclined towards helping small business
firms stuck in dire situations. In context of small business enterprises which are considerably
well off compared to struggling business firms need to utilize this strategy as it increases positive
reputation of the company. According to Bozkurt and et. al., (2020), The goodwill generated
from this type of community engagement during turbulent times go a long way and will be
recognised by consumers for a long time period. This strategy is effective as it creates bonds
with local community which not only help the small business firm survive the pandemic but also
contribute to recovery of the organisation as corporate state of the world returns to normal.
Expansion of services or products is another strategy which involves creation of new service to
meet changed consumer demand and priorities. According to Contreras and et. al., (2020),
Adaption is the key for surviving in such times and it is important for business firms to change
their offerings according to tight economic situation. Small business owners need to focus on
providing affordable offering to their consumers and focus on up-skilling so that new and unique
offerings can be given to the consumers.
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RESEARCH METHODOLOGY
Research methodology is defined as such set of actions which are undertaken within a
research so that overall research can be executed in proper manner (Lourie and Rata, 2017).
Research methodology is such useful concept which plays significant role in developing research
process and attaining research objectives by following proper process and systematic manner as
well. The major objective of research methodology within a research is to align efforts exerted
by researcher in respect of attaining research objectives and formulating research in systematic
manner so that in timely manner research objectives can be attained. Research methodology is
such path of research in which higher efficacy can be attained within provided time limit. Efforts
exerted within research methodology will be helpful in providing direction to the research so that
ultimate objectives can be attained out of research(Norris, 2016). This is highly profitable for
researcher to gain benefits out of research when appropriate methodology has been used. There
are different types of research methodology which can be used within research so as to align
efforts with research objectives. Under this research, research onion framework is used so that to
execute research in systematic manner. This framework is elaborated as under:
Research Philosophy: Research philosophy is defined as such set of actions which are helpful in
research to develop and attain research objectives. Research philosophy is helping to cover
overall investigation in significant manner (Kovalevska, Barabash and Snihur, 2018). Research
philosophy is such set of assumptions which helps the research to attain research objectives in
systematic manner. These are the phenomena which could be helpful for researcher to gather
significant knowledge regarding research so that objectives in appropriate manner. Research
philosophy is also defined as such set of assumptions which are developed in order to gain
appropriateness in research. In this manner within elementary level of research it can be analysed
that whether research is framing its objectives or not. Research philosophies are executed at
primal level so that this could lead the researcher to develop proper research and understanding
as well. This will be assisting researcher to acquire high insight related with research and
develop understanding as well (Sun and Lipsitz, 2018). There are two types of research
philosophies such as Interpretivism and positivism. Both of these philosophies are associated
with providing such type of acknowledgment to researcher in which overall development can be
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seen within research. Under this research Interpretivism philosophy is used as this is helping
researcher to develop in-depth knowledge regarding research topic so this will lead in developing
research process in appropriate manner. In this manner overall benefits out of research can be
obtained by researcher so that objectives can be dealt in direct and indirect manner.
Research Approach: Research approach is defined as those plans of actions and processes
which could be helpful for researcher in aligning their research objectives in appropriate manner.
Research approach is leading to develop research by using contextual frameworks so that values
and beliefs within research can be enhanced (Meister, 2018). This is being examined that
research approaches are associated with such value and beliefs that are developed within
research so that to execute the same with higher prominence and to cover various dimensions
within research. Research approaches are directly linked with obtaining objectives within
research so that overall accessibility within research can be carried out. There are two types of
research approaches such as inductive and deductive. Inductive approach is associated with
observations and theories within research in order to attain research objectives whereas deductive
approach is associated with such theories which have already been given and hypotheses can be
framed out of them for executing research. Under this research deductive approach is used as this
approach is helping to gain deep insight and knowledge over already developed theories. So this
research approach could be useful for researcher to undertake research most appropriate manner
along with gaining depth knowledge regarding topic (Queirós, Faria and Almeida, 2017).
Research Choice: Research choice is defined as such factors which are helpful in developing the
overall research in systematic manner. Research choice helps the researcher to collect
information from various valid sources so that reliable information can be gathered and at the
same time objectives can also be attained(Federighi, 2019). Similarly research choice is
something which greater assistance to researcher in order to develop their path of research and to
obtain objectives as well. There are two types of research choices which can be used by
researcher in order to gather data and to acquire prominence within research such as qualitative
and quantitative. Under this research qualitative research has been used as this assists the
researcher to gain depth insight regarding research topic and to analyse research topic in deeply
manner so that conclusion can be drawn effectively.
Research Strategy: Research strategy is that part of research onion framework which assists the
researcher to gather information out of various sources those is essential to develop path of
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research. This will help researcher to gather such data which is helpful for attaining aim of
research and to execute research along with optimal efficacy (Page and et. al., 2017). Research
strategy is those collective efforts which are made by the researcher in the process of executing
research plan and to render fuller efficacy to the research as well. Research strategy plays
significant role in research as this aspect is providing knowledge and information about the given
research topic and leads the researcher to dodge various barriers. There are various types of
research strategy such as case study, surveys and many more (Brook, Lainio and Lažetić, 2020).
Under this research survey strategy has been used as researcher is performing in depth analysis
so with the help of survey this would be easier for the researcher to attain research objectives in
appropriate manner.
Data Collection: Data collection in sub set of research strategy and approach as this section
helps in taking out that reliable data which could help the researcher to gain objectives and path
of research in clear manner (Bartlett and Vavrus, 2019). Under this manner all the required and
relevant data and information pertaining to the research can be taken out by researcher in that
manner to attain objectives in significant manner. Data collection is holding high degree of
importance for researcher as this is base of a research and leads in gaining prominence over
researcher in a very short period of span (Opoku, Ahmed and Akotia, 2016). There are two types
of methods which are used for data collection such as primary and secondary. Under this
research secondary data has been used as this will give major insight related to the research topic
which helps in gaining research outputs. Secondary methods are highly reliable and primal as
this provides depth information regarding research topic.
Sampling: Sampling is the activity which is one of the most crucial dimension of research as this
associated with selecting those number of prospective candidates which are taken out of the
entire population in order to gain depth information and to acquire research objectives as well
(Devi, 2017). There are two types of sampling such as probabilistic sampling and non-
probabilistic sampling. Under this research non- probabilistic sampling is used as this enables the
researcher to select books and journals and any other articles in order to obtain diversified
information related to the topic.
Time horizon: Time horizon is defined as such aspect of the research in which time line
is given for completion of research (Ragab and Arisha, 2018). There are two types of time
horizon such as cross sectional and longitudinal. Under this research cross sectional time horizon
17

is used as this helps in covering various dimensions at once so that to attain research objectives
in timely manner.
18

CONCLUSION
As discussed in above points, it is a known fact that every business segment, industry, and
business including small businesses in UK, and home bakes shop owners are affected badly due
to this COVID pandemic in one way or another. The effects from the pandemic are not only
limited till the existence of this pandemic but it seems that these impacts can last on businesses
and their financial performance even after the pandemic ends. As per the above research it can be
noticed that there are large number of business operators in UK whose business depends upon
income from tourists and office personnel’s. But as the government has issued guidelines on
number of occasions to close or shut the shops to control the pandemic their income has been
lapsed. Moreover, they are badly affected as result of global travel restrictions imposed by
different countries. Since there are number of things and ways to operate businesses which might
change in future as result of pandemic, it is now important for all the small business operators in
UK to be pro active for any further and unfortunate pandemics and transform and adapt
themselves to the upgraded ways of business operations. All the restaurant businesses and
different sector small businesses should now go to online platforms to offer their services and
sell their products to customers as the future can be remote and it is huge possibility that the
traditional way of people coming out of their houses may halt instead now people are expecting
the offering to reach their place on just giving order through mobile or any online platform. The
businesses have now experienced the situation and they are now very well aware of the fact that
their business can lose its stability at any time in future if they didn’t come up with new
strategies and approaches to operate their businesses. Number of different businesses are now
framing different smart strategies which would help them to maintain competitive edge with
their competitors and the businesses are now adapting to different cloud offerings and tools like
software’s to maintain their data in such a way that they can reach it at any time and from
anywhere. They must now build an advanced system which would enable them to reach large
number of audience and increase their revenues. Digital payment adoption is one of the most
used and upgraded technology for different small businesses. As the way of payment through
currency notes is now going obsolete and down, they are using different tools and software’s
through which online payment can be accepted from their customers. Aim of every business is
now to overcome the impacts from this pandemic as soon as possible and come out with
19

effective and efficient business strategy that will grow and recover the financial performance of
their businesses with a cost-effective approach. Above research clearly states that now small
businesses should reach out to their local community and help them in various ways that can
reciprocate at some point of time in future. Effective and efficient business strategies have to be
promoted.
20

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