NORDSCI Conference proceedings 2020, Book 2

Business and Management

ASSESSMENT OF BUSINESS ENVIRONMENT DEVELOPMENT PERCEPTION UNDER THE INFLUENCE OF COVID-19: THE CASE OF LATVIA

Prof. Dr. oec. Andra Zvirbule, Prof. Dr.oec. Gunta Grinberga-Zalite, Assoc.prof. Dr. oec. Aina Muska

ABSTRACT

Not only macroeconomic growth scenarios and forecasts but also business environment assessments and development forecasts have changed as a result of the worldwide COVID-19 pandemic. Many of the forecasts are based on objective data on the performance of economic sectors; however, some of them are based on business perceptions or business sentiment assessments. There is no doubt that these perceptions and business sentiment assessments differ within business sectors and according to the size of the company, regional location, and type of business. The aim of the research is to identify and provide an assessment of the business environment development perceptions in the COVID-19 situation in Latvia and compare them with business sentiment assessments from other countries. Specific tasks of the research: to collect information on business environment changes in Latvia in the COVID-19 situation; to compile business perceptions of the impact of COVID-19 on the business environment in the world and in Latvia; to identify the perceptions of the business environment in the most important business sectors in Latvia. Methods: monographic, data grouping, logical construction and mathematical and statistical analysis. The research identified business environment changes in business sectors in Latvia under COVID-19’s influence and business perceptions of the impact of COVID-19 on the business environment for the next 6 months. Based on the research, the authors have drawn conclusions about the future development of the business environment and have identified the sectors that will be negatively affected by the COVID-19 crisis in the coming months

KEYWORDS

COVID-19 crisis, business environment, business sentiment

REFERENCE