International Journal of Organizational Business Excellence (IJOBEX)
Vol. 3 No. 1 (2020): June 2020

THE MENACE OF COVID-19: SURVIVAL STRATEGIES FOR SMALL AND MEDIUMSCALE ENTERPRISES IN NIGERIA

Michael Okon Essien (Department of Marketing, Akwa Ibom State Polytechnic, Nigeria)
Emmanuel Sunday Ukpong (Department of Business Administration, Heritage Polytechnic, Nigeria)
Ime Robson Nseobot (Department of Business Administration, Akwa Ibom State Polytechnic, Nigeria)
Clement Efiong Okon (Clemdon Educational Services, Nigeria)
Ikoroha Innocent Simeon (Department of Psychology, University of Uyo, Nigeria)
Anietie Imo Effiong (Delcanimoff Integrated Services, Nigeria)
Vinesh Dinnoo (Department of Medicine, Faculty of Health Sciences, University of Pretoria, South Africa)
Uduakabasi Ana Eyo (Ministry of Education,Akwa Ibom State, Nigeria)



Article Info

Publish Date
10 Mar 2021

Abstract

Small and Medium Enterprises (SMEs) have been considered as the engine of economic growth and for promoting equitable development all over the world. The Coronavirusdisease(COVID-19) pandemic has caused unprecedented panic, disruptions and lossesfor businesses. This is why this paper investigatesthe survival strategy for Small and Medium Enterprises (SMEs) in Nigeria after COVID-19 pandemic.The concept of Small and Medium Enterprises,history and advances of COVID-19 pandemic in Nigeria, Small and Medium Scale SMEs capacity building in Nigeria, government’sresponse to the pandemic: a global perspective and steps SMEs must take to survive post COVID-19 were discussed. The study concluded that there is no gainsaying that Small and Medium Enterprises (SMEs) are the backbone of any economy globally. This subject has been resounded everywhere throughout the world! The time is now to step up and do what we allknow is the appropriate course of action.The paper recommended among others thatSmall and Medium Enterprises (SMEs) should approach commercial banks, or the Bank of Industry for loans to keep them afloat, at reduced interest rates.

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Journal Info

Abbrev

ijobex

Publisher

Subject

Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

Description

The scope of this journal includes, but not limited to: 1. Leadership for performance excellence 2. Strategic Planning for performance excellence 3. Customer and market focus for performance excellence 4. Information, measurement, knowledge management, and information technology for performance ...