COVID and Small Businesses in the U.S., China, and Russia: Three Models of Government Support

Abstract

The impact of the world COVID crisis on small businesses was extremely destructive. Governments of different countries being aware of critical importance of small business sector to national economies and societies as a whole undertook measures aimed at SME support. While the devastating effect of COVID on small business is quite comparable across the world, the scale and efficiency of government protective measures differ a lot in various countries. In this paper we made an attempt of comparative analysis of governmental efforts to protect small business economies on the example of SMEs in three countries: the U.S., China, and Russia.