Financial implications of COVID-19 on selected Maltese band clubs : a qualitative study

Abstract

PURPOSE: This research examines the impact and continuing consequences of the COVID-19 pandemic on the sustainability of Maltese band clubs. Additionally, the study investigates the organisational resilience tactics employed by Maltese band clubs to protect their operations during such challenging periods and how they managed to continue generating income. DESIGN: A qualitative methodology was utilised in order to accomplish the aims of this study. The first step involved a qualitative content analysis of the financial statements from 2019-2021 of twenty Maltese band clubs. Following this content analysis, the researcher conducted twelve semi-structured interviews with treasurers from various band clubs. FINDINGS: The study’s results reveal that the COVID-19 pandemic severely disrupted band club operations, leading to a significant drop in revenue due to the imposed restrictions. In addition to the financial impact, the pandemic also adversely affected the human resources of these band clubs. Despite these challenges, the findings indicate that many band clubs proactively developed new revenue streams and used technology to keep members engaged. The research also highlights that the effects of COVID-19 continued to persist even after the lifting of restrictions, as expenses rose due to a decline in volunteers as well as macro-economic and external factors. CONCLUSIONS: The research determined that the pandemic had a substantial negative impact on band clubs resulting from decreased revenues, fewer volunteers, and increased costs. If these challenges continue to persist, the continuity of a vital aspect of Maltese culture is at risk. IMPLICATIONS: This research aims to provide valuable insights into the impact of COVID-19 on Maltese band clubs. The proposed recommendations are intended to ensure the long-term sustainability of these non-profit organisations.