SURVIVAL AND SUSTAINABILITY STRATEGIES OF SMALL AND MEDIUM ENTERPRISES (SMES) DURING AND AFTER COVID 19 PANDEMIC
Abstract
These studies examine the survival and sustainability strategies of small and medium enterprises during and after Covid 19 pandemic. The research design for this study is the survey design, the sample size for the study is 100 respondents. This study used questionnaire as an instrument to collect data. The Chi-square (X2) was used in testing the hypothesis. The study revealed that COVID-19 pandemic has seriously impacted negatively on the performance and existence of SME business in Nigeria. Considering variables such as; lockdown, movement restrictions, closure of markets and social distancing to measure the effect of COVID-19 pandemic on the performance of SMEs in Offa, Kwara State, Nigeria. Most of the variables had a positive and significant effect of COVID-19 pandemic on the performance of SMEs business. It is concluded that the prevalence of Covid-19 pandemic will definitely change the dynamics of doing business worldwide. Recommendations were made that The Nigerian government is expected to drastically reduce the costs of governance and operation and provide strategies for accessing grants and loans from international community in order to enhance SMEs in the country.
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