BSI Luxembourg ASBL
Château de Wiltz
COMMUNICATION OF SMEs IN TIMES OF FINANCIAL CRISIS, RESILIENCE FACTOR
Numerous studies on communication deal with either endemic crises or crises involving large systems. Very few studies address the communication of SMEs during times of financial crisis. SMEs account for more than half of revenue and employment in France. This thesis focuses on SMEs in times of financial crisis and the way they communicate during these difficult moments. It analyzes the range of legal procedures for the prevention and handling of the crisis and the complex relationships with stakeholders, employees, shareholders, suppliers, customers, banks, as well as the Commercial Court, Judges and Administrators. Ten testimonials from decision-makers totaling more than 300 years of experience — all individuals with positions to influence the sustainability of a SME, were collected. Using manual and digital coding methods in the analysis, these testimonials highlight eight characteristics that can allow a SME to increase its chances of survival and overcome times of crisis. Finally, a case study sums up these themes and includes them into a pedagogical scenario targeting managers of SMEs facing a financial crisis.
KEY WORDS: Communication, Crisis, Finance, Resilience, Organization