This study looked at the impact of the COVID-19 pandemic on the revenues of small businesses operating in industrial sectors, and at the extent to which these businesses changed or adjusted their business activity, or changed the extent to which they utilize open innovation tools and implement innovation promotion processes. The findings show that, despite COVID-19's far-reaching impact in all areas of life, the revenues of most small businesses in industrial sectors were not adversely affected, and most of them did not adjust their business activities or the extent to which they employ open innovation tools and engage in innovation promotion processes. The findings also indicate that small businesses, most of whose revenues derive from subcontracting work are likely to cope better under conditions of economic uncertainty. The findings also show that businesses that are active in international markets succeeded in adapting their activity to the changing demands and various trade restrictions. This study's contribution lies in its focus on small businesses, and its examination of how subcontracting strategy and international operations help them contend with problems and conditions of economic uncertainty and suggest that policymakers should foster programs that assist small businesses with these work strategies.

The exploratory research in 2020 received a lot of attention in trade journals in the Netherlands and in the international context of academic journals, webinars and conferences. This led to this research in 2021, including a reorientation on the structure of the research. Due to the further development of the faculty in 2020 and 2021, the questions from the research were further professionalized, peer reviewed by experts and supplemented. In addition, it is interesting and scientifically important to place the research more in both a national and international perspective, both with regard to professional groups and with regard to other studies, such as that of Controllers Magazine, After various inventorying discussions at the end of 2020, whether or not at the request of the stakeholders, this led to a reorientation on the conducting of the research. At the beginning of 2021, the study was therefore extended almost simultaneously to: (a) all members of the Werkveldcommissie (Werkveldcommissie; WVC) of the Accountancy (AC), Finance, Tax and Advice (FTA, formerly Fiscal Law and Economics) and Finance & Control (FC) programmes of the Academy of Finance, Economics and Management (FEM) at Saxion University of Applied Sciences, (b) all members of the Samenwerkende Register Accountants en Accountants Administratieconsulenten (SRA) a network organization of 375 independent audit firms with 900 branches in the Netherlands, and (c) international sister universities of Saxion University of Applied Sciences.