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Impacts of COVID-19 Pandemic on Sustainability/Survivability of Micro/Small Sized Businesses in Nigeria

Author

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  • Anthony Wakwe Lawrence
  • Damiete Onyema Lawrence

Abstract

Coronavirus pandemic (COVID-19) is currently the biggest crisis affecting the world. COVID-19 has claimed the lives of millions and is impacting the economic lives, ways of life and at least psychological health of most people. We used Port Harcourt as area of study to understand if sizes and types of these businesses affect sustainability/survivability in relation to the impact of COVID-19. We administered questionnaires to 568 business owners/mangers of 11 business types of the two sizes (micro and small). The information gathered were analysed using both quantitative and qualitative means and also presented graphically. The micro-sized businesses were more successful in terms of their abilities to continue getting patronage, getting supplies, retaining workers and eventually making profit during the peak of COVID-19 pandemic. Those whose products were considered more essential in relation to lockdown and health circumstances- fruit sellers, online enabled businesses, Point of Sale units (POS), drugs and petroleum product sellers thrived better than others. Considering the subsistent level of existence of these micro and small sized businesses, their major needs are effective provision of credit facilities and availability of other supportive business interventions including provision of palliatives/relief measures during crisis to real business operators and not to ‘ghosts’ by government and others to sustainably grow their businesses. As population pressure increases, with the attendant rise in unemployment rate, recommendation is made for business entrepreneurial skills to be incorporated into all levels of educational curricula to facilitate greater chance of success for those who choose the business pathway.

Suggested Citation

  • Anthony Wakwe Lawrence & Damiete Onyema Lawrence, 2023. "Impacts of COVID-19 Pandemic on Sustainability/Survivability of Micro/Small Sized Businesses in Nigeria," International Journal of Business and Management, Canadian Center of Science and Education, vol. 16(9), pages 1-1, February.
    • Handle: RePEc:ibn:ijbmjn:v:16:y:2023:i:9:p:1
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    References listed on IDEAS

    as
    1. Ozili, Peterson & Arun, Thankom, 2020. "Spillover of COVID-19: Impact on the Global Economy," MPRA Paper 99317, University Library of Munich, Germany.
    2. Paul Hong & Chenglei Huang & Bo Li, 2012. "Crisis management for SMEs: insights from a multiple-case study," International Journal of Business Excellence, Inderscience Enterprises Ltd, vol. 5(5), pages 535-553.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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