Alternative Income Sources – Entrepreneurship Development or Households’ Economic Needs after the COVID-19 Crisis?
Purpose: The purpose of this paper is to identify and analyze the COVID-19 pandemic implications for alternative income sources in transition economy with the dispute based on literature and research. Design/Methodology/Approach: The following research methods were used. Desk extensive research and analysis of raw data collected for the study. An original in-depth interview form was developed, and scientific dispute based on subject literature was conducted. A research hypothesis, aimed at verifying the research problem, were formulated. Findings: The study highlights that, aside from passion, the main reason for undertaking additional economic activity is to obtain additional income. Practical Implications: The research expands the knowledge on COVID-19 economic implication such as finding of additional income in transition economies. An the obvious objective of each economic activity is income maximization, this is why the paper can be used as a compendium for potential additional income increasing implementation in practice. Originality/Value: The paper may start the discussion on alternative income sources which, especially in the current time of recession of domestic and global economies, will constitute an increasing percentage of households’ income. This will be the growing need of many households. The paper may be the basis for research extension, especially in a comparative basis.