The impact of COVID-19 on SMEs in Nigeria
After more than a decade of unprecedented economic growth, the world is facing another global economic recession. Government of Nigeria is forced to balance the health of their citizens with economic stability and their own debt. The Nigeria private sector and small and medium scale enterprises (SMEs) get affected as public life shuts down.
- Aim, Objectives
The aim is to determine a means through which SMEs can scale through this period of coronavirus disease outbreak without shutting down business. The aims are achieved by meeting objectives as follows:
- To examine the level of coronavirus disease in Nigeria.
- To investigate the impact of coronavirus disease on small and medium scale enterprises (SMEs) in Nigeria.
- To offer a recommendation of how SMEs can operate in Nigeria with minimal loss and ensure continuity.
- Significance of the Study
The study will enable relevant agencies concerned with eradicating COVID-19 in Nigeria to know the implications of coronavirus disease on SMEs. This will influence Investors decision making, the result of the proposal will benefit a wide range of stakeholders.
- Motivation for the Study
From the literature reviewed I had found that several techniques are applied to examine factors affecting SMEs however, there are shortcomings found didn’t focus on infectious epidemic. This project as a student of B.Sc. Economics will allow me to expand my knowledge of the business sector in Nigeria, deep understanding of factors affecting SMEs, the technique applied has advantages by showing how infectious epidemic affect SMEs.
- Key Argument for the Study
The assumption is that coronavirus disease affect the survival of small and medium scale enterprises as, Wuqi, Cordia, Ayan and Jing (2018) experiment SARS coronavirus and H7N9 viruses had achieved.