This research was conducted within the National Research project “ReCOVery - LV” for exploring the impact of the COVID-19 pandemic on the Latvian companies, specifically analyzing in this paper the range of emotions experienced by the Latvian companies and the new solutions they elaborated and realized to overcome the crisis despite the shock and stress. The qualitative content analysis of the feedback from 334 companies revealed their anxiety combined with the emotions of fear, anger and sadness, including six more emotions which present these three basic emotions’ different levels of intensity. Although, being in this negative emotional state, some of the companies managed to increase their revenues introducing new products and services, creating new sales channels and attracting new clients, digitalize processes and achieve cost savings.