Startups

Coping with COVID-19: Economics of Social Media Based Business in Sri Lanka during Crises

As of January 2018, there were six million active social media users in Sri Lanka, accounting for 30% of the population. Given the complete cessation of usual business practices in Sri Lanka for the past six weeks, due to prolonged curfew, businesses of all sizes have begun to use social media as their preferred platform to continue commercial activities. For instance, many major supermarkets and other vendors have also started connecting to their customers directly via platforms such as WhatsApp and Facebook. Similarly, social media based Micro, Small, and Medium Sized Enterprises (MSMEs) have also attempted to restart their service provision, amidst several limitations. This blog discusses the impact of crises on social media based MSMEs in Sri Lanka.