The main purpose of this research is to compare the relevance of small and medium-sized enterprises (SMEs) and prominent firms in small and medium-sized businesses literature based on the Covid-19 data from March 2020 to June 2021. It provides a practical and financial social accounting matrix, which distinguishes immediate and intermediate impacts from micro, small, medium-sized, and big enterprises to balance the country’s economic level. We employed the Hypothetical Extraction Method (HEM) to study a series of responses related to impacts resulting from Covid-19 restrictions. We further determined the contributions made by various business types towards the average gross domestic product (GDP) using the structural framework for the Spanish economy. The first findings help us to harmonize the combined narrative that follows the assessment of their function in business movement, which indicates that SMEs and large enterprises are essential to sustain economic activity. In the second result, we have identified the immediate and related consequences of the Covid-19 pandemic by considering the Spanish framework for micro, small, medium, and large enterprises. The third model results showed that SMEs specifically assist in illustrating that the Covid-19 pandemic accounts for 43% of revenue and 2/3 of unemployment drop. Our results also revealed the need to make the industrial strategy of small and medium-sized enterprises conditional on sector-wise analyses.
Ajaib et al. (Sun,) studied this question.