TABLE OF CONTENT
ABSTRACT
CHAPTER ONE: INTRODUCTION
1.1 Background of the study
1.2 Problem statement
1.3 Research objectives
1.4 Research questions
1.5 Research Hypothesis
1.6 Scope and limitation of the study
1.7 Definition of terms
CHAPTER TWO: REVIEW OF RELATED LITERATURE
2.1 CHINA
2.2 CORONAVIRUS (COVID-19)
2.3 TREND OF COVID 19 IN AFRICA (An Africa Experience)
2.8 EFFECT OF COVID 19 ON NIGERIAN COMMERCIAL CITIES
2.9 ECONOMIC CIRCUMSTANCES OF COVID 19 IN NIGERIA
2.10 CONTRIBUTIONS OF PRIVATE SECTORS THROUGH DONATIONS TOWARDS COVID -19 PANDEMIC IN NIGERIA
CHAPTER THREE: RESEARCH METHODOLOGY
3.1 RESEARCH DESIGN
3.2 RESEARCH POPULATION
3.3 SAMPLING
3.4 Data Collection Method
3.5 Research Procedure
3.6 Data Analysis Method
CHAPTER FOUR: DATA ANALYSIS AND PRESENTATION OF RESULTS
4.3 Discussion
CHAPTER FIVE: CONCLUSION AND RECOMMENDATION
5.1 Conclusion
5.2 Recommendation
References
QUSTIONNAIRE
ABSTRACT
This research work empirically explored the impact of infectious epidemic on small and medium scale business enterprises in Nigeria a case study of corona virus disease. The objectives of this study were to examine the level of coronavirus disease in Nigeria, investigate the impact of coronavirus disease on the survival of small and medium scale enterprises in Nigeria. The scope of the study is business owners in Nigeria, The infectious disease transmission mechanism theory was used as a framework. The research design used for this study is survey, the population targeted for this study consists of all business owners across the country. 400 business owners were used as sample size and cluster sampling technique was applied. Instrument used for this study is the questionnaire. Data collected were collected from primary sources. From the analysis of the data, the findings shows that the level of coronavirus disease in Nigeria as compared to other countries is average, coronavirus disease has effect on the survival of small and medium scale enterprises in Nigeria. Following the findings, it was recommended that measures should be devised to curb the spread of the virus and vaccine created so as to prevent further hinge on the smooth operations of small and medium scale business activities, business owners should devise a means to continue their business by taking it online. The study concludes that coronavirus disease has a negative effect on small and medium scale business enterprises.
CHAPTER ONE
INTRODUCTION
1.8 Background of the study
Development of small and medium scale enterprises has been a focal point of the various governments of the world, because SMEs have flexible configurations and immensely contributed to nation building respectively (Aderemi et al. 2019; Tehseen & Ramayah, 2015; Kayadibi et al., 2013; Khalique et al., 2011). Generally, the World Bank classified SMEs as businesses with maximum of 300 workers.
Meanwhile, in Nigeria`s context, small and medium scale enterprises are conceptualized as business entities that have less than 50 employees. Basically, these enterprises possess investment in machinery and equipment that is less or equal to six hundred thousand naira and independently owned and operated with a view to generating job opportunities and meeting sales standard (CBN, 2018). These business entities constituted about 90% of businesses in Nigeria (Gbandi & Amissah, 2014). National Bureau of Statistics (NBS) estimated numbers of SMEs in Nigeria to be 41.4 million. The unique nature of SMEs lies in the utilization of raw materials from local sources, creation of employment, motivation for rural development, entrepreneurship development, mobilization of local savings and platform for self-employment.
However, devastating effects of COVID-19 pandemic on both human and material resources in early 2020 cannot be forgotten in a hurry. The Wuhan-COVID-19 emerged in 2019 in China like the way Ebola did in West Africa in 2014. But, COVID-19 resulted into global pandemic- which spread across the globe without obstruction (WHO, 2020). This novel virus sparked off various restrictions to movement of people, goods and services. The closure of factories alongside reduction in production was not left out due to the stay-indoors orders. This invariably reverberated its effect to activities of SMEs globally.
In the recent time, the novel COVID-19 has motivated research from different fields, ranging from medical, pharmaceuticals, economic, political and social arena in conceptualizing possible multiplier effects of COVID-19 on the global economy. Small and medium-sized enterprises (SMES) are backbone of developing economies. In Nigeria, SMEs have been identified as the drivers of the economy due to their capacity to stimulate productivity, provide employment opportunities and improve welfare of the people (Abosede & Onakoya, 2013; Ariyo, 2005). This is one of the reasons why studies about impact of COVID-19 on SMEs in Nigerian cannot be ignored in the phase of a global pandemic.
As the global economy is currently being ravaged by the COVID-19 pandemic, its aftermath effects on both human and material resources in the world is an undeniable evidence that good health is the driving force behind the growth of economy (Meer et al., 2003; Bloom and Canning, 2000). COVID-19 has brought diverse risks to various economic activities like global financial crisis of 2008 (Dang and Nguyen, 2020). No single country is exonerated from the devastating effects of this novel virus on human and economy, due to the current era of globalization. Meanwhile, Nigeria as the biggest country in Africa in terms of population and economy, has reported 8344 cases of COVID-19, and 246 fatalities as of May 27th. In order to contain further spread of this virus, the government implemented a series of measures ranging from the closure of borders against other nations. Consequently, in March 29th, the government declared a lockdown in three major states, Lagos, Ogun and Federal Capital Territory, Abuja – halting all non-essential activities across these states. Later, other remaining states went on lockdown with a ban on interstate movement on non-essential duties.
In the recent times, various analysts have projected fall in aggregate demand and supply, dwindling in exports and rise government expenditure as the negative ripple effects of lockdown across different sectors of the Nigerian economy. However, this lockdown is more likely to make the situation dire for SMEs in the country. SMEs constitutes the larger bulk of businesses in Nigeria. According to National Bureau of Statistics (NBS), SMEs were estimated to be 41.4 million enterprises in Nigeria which provided jobs for over 70% of working population in the country (ILO, 2017).
This shows that huge number of people are engaged either directly or indirectly in SMEs. Therefore, any negative economic shocks reverberated by COVID-19 pandemic on these enterprises make over 70% of the Nigerian working population vulnerable to the novel virus.in view of the above, this study aims to examine the aftermath effects of COVID-19 pandemic on Small and Medium Enterprises (SMEs) in Nigeria. The study raised this specific research questions in addressing its objective. What are the effects of COVID-19 pandemic on operations of SMEs in Nigeria? Therefore, considering the contribution of the small and medium enterprises to the employment generation and economic growth of the Nigerian economy, and the inevitable threats and shocks of COVID-19 to the all sectors of the economy, especially SMEs. This study tends to contribute to knowledge by examining how COVID-19 pandemic affected SMEs in Nigeria with a view to identifying the mitigating factors that can ensure the sustainability of the enterprises in post COVID-19 period.
1.9 Problem statement
The Corona Virus (Covid-19) has a wide-reaching effect on micro and small business, consumption technology, travel, and the economy. It has already taken the lives of many and is also taking. In addition to this, every country follows the lockdown procedures as a means of preventing measures and Nigeria has also adopted the same (Ashikul, 2020). It seems both private and the public sector are messed up due to this virus. The fact is unavoidable that the effect of the novel corona virus will have a significant effect on the country, economy, and society. The increasing threat of novel corona virus is a public health crisis and hampers the macro economy as a whole. It has also cut off the supply chain of the business. The production and the manufacturers are expected to be hampered more. China is the central manufacturing hub for both small and medium businesses globally. Therefore, any disruption in china’s output will simply have repercussions in all forms of business but local and the international. Mohammad (2020). This is a major problem for Nigeria SMEs as supply from China was cut off once the pandemic began.
1.10 Research objectives
The aim of this study is to assess impact of corona virus on small and medium scale enterprises. The study was guided by the following minor objectives.
i. To determine the effect of COVID-19 pandemic on small businesses in Nigeria
ii. To examine the negative effect of the lockdown policy on the small business performance.
iii. To assess the impact of coronavirus on the operations of SMEs
1.11 Research questions
i. What is the effect of COVID-19 on small businesses in Nigeria?
ii. What negative factor affecting SMEs arose as a result of the lockdown policy?
iii. What is the effect of the coronavirus on the operations of SMEs?
1.12 Research Hypothesis
· Small businesses in Nigeria were affected by COVID-19
· The lockdown gave rise to negative factors which affected SMEs in Nigeria
· Coronavirus affected the operations of SMEs
1.13 Scope and limitation of the study
This study which is titled the impact of infectious epidemic on small and medium scale enterprises in Nigeria is focused on assessing the effect of coronavirus on SMEs. This study was focused on the effect of this pandemic on the essential commodities: drugs, food and oil. The study was limited to Osun state. The researcher was limited by time majorly during the course of this research.
1.14 Definition of terms
Coronavirus: Coronavirus disease (COVID-19) is an infectious disease caused by a newly discovered coronavirus. The virus that causes COVID-19 is mainly transmitted through droplets generated when an infected person coughs, sneezes, or exhales. These droplets are too heavy to hang in the air, and quickly fall on floors or surfaces.
Epidemic: An epidemic is the rapid spread of disease to a large number of people in a given population within a short period of time. For example, in meningococcal infections, an attack rate in excess of 15 cases per 100,000 people for two consecutive weeks is considered an epidemic.
SMEs: Small and medium-sized enterprises (SMEs) or small and medium-sized businesses (SMBs) are businesses whose personnel numbers are more than 30 and below 250.
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