COVID-19 PANDEMIC AND SMES SURVIVAL STRATEGIES IN NIGERIA

Abstract

The spread of COVID-19 across the world since December 2019 has led to the global economic crises. SMEs across the globe including Nigeria are facing different challenges to survive as a result of the pandemic. This study, therefore, looks at the effect of the pandemic on SMEs and the possible survival strategies that can be adopted. The study used a sample comprising of 285 SMEs owners from the six geo-political zone of Nigeria with the aid of a structured questionnaire and secondary data from the NCDC for the analysis using both descriptive and inferential statistics. The finding of the study revealed among other things that the adoption of the E-business model and the use of technological innovation was the major SMEs strategies to control the COVID- 19 pandemic in the study area. The study recommended that SMEs owners should adopt E-business and use relevant ICT technological innovations to enable them to adjust to the new order of doing business and also adherence to all the COVID- 19 protocols, health policies, and advice in carrying out their day-to-day business activities..