Economic Impact of Covid 19 Pandemic on the Management of Small Scale Business in Nigeria A Case Study of Africana Restaurant, Otefe Oghara
Journal Title: International Journal of Trend in Scientific Research and Development - Year 2021, Vol 5, Issue 4
Abstract
The study examines the effect of covid 19 on the performance of small scale enterprises in Nigeria. Notably, the outbreak of the highly infectious disease in December 2019 disrupted economic activities as movements were restricted and businesses shut down. As a result many businesses could not survive the onslaught due to declining demand, decreasing revenue and falling profit. This resulted in high unemployment and poverty. The study employs the chi square statistics to examine the contemporaneous dynamics between covid 19 and operations of SMEs in Nigeria. The study finds that covid 19 severely affected the growth of SMEs in Nigeria during the pandemic era. It is therefore recommended by the study that the successful containment of the problems occasioned by covid 19 will require a combination of both micro and macro policies. Thus, given the strategic position occupied by small and medium scale enterprise, government may consider measures aimed at supporting them. Alternatively, a wide array of measures should be introduced to mitigate the economic impact of the coronavirus outbreak on businesses. Lawal M. Broghoma | Magini Gideon "Economic Impact of Covid-19 Pandemic on the Management of Small Scale Business in Nigeria (A Case Study of Africana Restaurant, Otefe-Oghara)" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-4 , June 2021, URL: https://www.ijtsrd.compapers/ijtsrd43657.pdf Paper URL: https://www.ijtsrd.commanagement/other/43657/economic-impact-of-covid19-pandemic-on-the-management-of-small-scale-business-in-nigeria--a-case-study-of-africana-restaurant-otefeoghara/lawal-m-broghoma
Authors and Affiliations
Lawal M. Broghoma | Magini Gideon
Keywords
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