The University of Westminster hosted a workshop that brought together researchers from across Europe to explore firm productivity and survival during times of economic crisis, including the COVID-19 pandemic.
The workshop was organised by Westminster Senior Lecturer in Economics Dr Sabine D’Costa and took place at Westminster Business School (WBS) on 15 May. Discussions focused on outcomes from a British Academy and Leverhulme Trust-funded research project led by Dr D’Costa on firm productivity and exit during economic crisis and offered valuable insights for academics and policymakers working on Small and Medium-sized Enterprises (SMEs), firm dynamics and the digitalisation of business.
Attendees were greeted by a virtual welcome address from Professor Franz Buscha, Professor of Economics and Associate Head of College for Research and Knowledge Exchange at WBS, who remarked on the importance of the project to help shape future policies that support local economies and make businesses more resilient during challenging periods.
Dr Sabine D'Costa
Dr D’Costa kicked off the presentations with an overview of the project, which used data from businesses in Spain between 2011 and 2022 to understand how location affects an organisation’s chances of staying open. She explained that while successful and productive businesses are usually more likely to survive, this is not always the case during times of crisis, particularly in rural areas.
This overview was followed by a talk from Co-Investigator Dr Adelheid Holl of the Spanish National Research Council, who dived into their analysis on how the local economy around a business can affect whether it survives or closes. Dr Holl showed that businesses located in areas with more people, stronger connectivity and more competition tend to have a higher probability of exiting, but that these location-based differences weakened during the pandemic period.
Dr Carolin Ioramashvili from the University of Sussex then presented on the relation between digitalisation and SME survival during the COVID-19 pandemic in the UK based on a recent research project with Dr D’Costa.
Presentations continued with Dr Yannis Galanakis from King’s College London, who discussed his ongoing research analysing real-time business dynamism using Companies House data.
Professor George Saridakis from Kent Business School concluded the workshop with closing remarks on each of the presentations. This was followed by a drinks reception, where researchers were able to connect with each other and share their research interests and ideas for further collaboration.
About the workshop, Dr D’Costa said: “We’re very grateful to the British Academy and Leverhulme Trust for allowing this project to come to fruition. This workshop is the culmination of a very productive collaboration and I look forward to the new research that will develop from it.”
This workshop and Dr D’Costa’s research contributes to the United Nations Sustainable Development Goals (SDG) 8: Decent Work and Economic Growth and 10: Reducing inequalities. Since 2019, the University of Westminster has used the SDGs holistically to frame strategic decisions to help students and colleagues fulfil their potential and contribute to a more sustainable, equitable and healthier society.
Learn more about Economics courses at the University of Westminster.
