The main goal was to understand the factors that supported and hindered business operations amid the COVID-19 pandemic. Using qualitative methods, 18 in-depth interviews were conducted with entrepreneurs who manage MSMEs. The interviews were recorded for content analysis. The negative impact of COVID-19 on businesses in Ecuador was a major issue that was discovered after data collection. The three main categories found were the conditions and manifestations of business decline, the actions and responses of businesses to the COVID-19 crisis, and the future plans of the business. This highlights the problems entrepreneurs face when it comes to following lockdown protocols, social distancing, and business hours. The results of this study of the use of entrepreneurship and empirical research fields aimed at developing effective ecosystems to support entrepreneurs. It is suggested that governmental and non-governmental stakeholders devise strategies for post-pandemic business revival.