COVID-19 PANDEMIC AND MEDIUM AND SMALL SCALE (SMES) BUSINESS ENTERPRISES

Abstract

The aim of this study is to investigate the impact of COVID-19 pandemic on medium and small scale enterprises in Ugbowo, with a view of ascertaining the impact of covid-19 on the revenue of SMEs, on job availability and employees salaries as well as source of funds. Data were collected with the administration of structured set of questionnaire on 133 SMEs. Findings from the analysis showed that Covid-19 pandemic have positively and negatively affected SMEs in terms of the revenue of SMEs in Ugbowo,  it's job availability and employee salary, likewise, it also affected availability of funds for SMEs. All stakeholders in SMEs at Ugbowo are given the following recommendations by the study, which can help them weather tough economic times. Firstly, the study advises SMEs to adopt online or digital sales and services. It suggested that SMEs make advance plans for occasions like COVID-19 that will have an impact on their companies. The study also suggested that SMEs' owners obtain training on how to find funding at challenging times like the COVID-19 pandemic.