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Going through a global health crisis is never easy for companies, and even less so for SMEs. Although some sectors have been lucky enough to partially resume their activity under certain conditions, this is far from being the case for the B2B events sector, which is still at a standstill. This crisis has had repercussions on the financial cycle of the company. 

The objective of this thesis is to study the consequences of the Covid-19 crisis on the need for financial resources of SMEs in the B2B events sector.

First, I reviewed the literature on this topic. I took time to define what an SME is and what the B2B events sector is. I also described the VUCA environment, because it matches the environment we have to cope with during a global health crisis. This includes the operating cycle, the investment cycle and the financing cycle. I also addressed the financing solutions put in place by the state to help companies through this crisis. The pecking-order-theory has been explained too in order to understand the financing preferences of a company. The failure path of the firm has also been discussed to understand the bankruptcy process.

Secondly, I conducted a series of interviews, which enabled me to clarify the consequences of the Covid-19 crisis on the needs for financial resources of companies in the B2B events industry. With the aim of making the sample as representative as possible, I interviewed a certain number of people as possible from the B2B events sector: audio-visual companies, companies renting out rooms for all types of events (team-buildings, seminars, etc.), companies renting out equipment for events, brewers, caterers, as well as companies organizing events from A to Z.

As a result of this research and these responses, we were able to compile a list of recommendations that could help the sector emerge from the trajectory of failure associated with the Covid-19 crisis and that could be used if we were to experience a similar crisis again.

SMEs in the B2B events sector - VUCA environment - global health crisis - Covid-19 - consequences on the financial cycle - Pecking order theory - failure factors - recommendations --- Sciences économiques & de gestion > Comptabilité & audit