Survival of Small Scale Businesses during Covid 19 Pandemic Challenges, Impact and Strategies in Anambra State
INTERNATIONAL JOURNAL OF TREND IN SCIENTIFIC RESEARCH AND DEVELOPMENT, 7 (2):
770-781 (April 2023)Abstract
The study examined the Survival of small scale businesses during covid 19 pandemic challenges, impact and strategies in Anambra State. Relevant literature was reviewed. Descriptive research design was adopted. This study was carried out in Anambra, Nigeria. The population of study comprised 7061 register small scale businesses in. Content Validity of instrument was adopted. The researcher used test retest and Cronbach’s alpha was used to verify the internal consistency of each construct in order to achieve reliability of instrument. Descriptive statistics such as mean and standard deviation was used to present quantitative data in form of tables. The study also employed Multiple Regression Analysis MRA method to evaluate the effect of COVID 19 pandemic and the survival of small scale businesses in Anambra state, Nigeria. Challenges faced by small scale businesses during the covid 19 pandemic has a positive significant effect on the survival of small scale businesses in Anambra state. Lockdown on the revenue of small scale businesses during Covid 19 pandemic has a negative significant effect on the survival of small scale businesses in Anambra state. Strategies taken for the survival of small scale businesses during Covid 19 pandemic has on positive significant effect on the survival of small scale businesses in Anambra State. The study concluded that Covid 19 survival strategies has on positive significant effect on small scale businesses in Anambra State. The study recommended that Anambra State government should drastically reduce the costs of governance and operation and provide strategies for accessing grants and loans from international community in order to enhance SMEs in the state. That the government should provide financial supports for the diversification of various aspects of small and medium enterprises SMEs such as agriculture, manufacturing, beauty cosmetics etc. in order to be responsive to the impact of COVID 19 in the country and government should provide technological equipment for effectiveness and efficiency of small and medium enterprises SMEs especially by promoting digital economy through delivery and payment system. More importantly, the focus should be on integration of the digitization into business operations in order to explore the emerging business opportunities in the country. Nwankwo Ekene Ezinwa | Uchenu Chimezie Adamma | Idemobi Ellis Ifeanyi "Survival of Small-Scale Businesses during Covid-19 Pandemic; Challenges, Impact and Strategies in Anambra State" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-7 | Issue-2 , April 2023, URL: https://www.ijtsrd.com.com/papers/ijtsrd55174.pdf Paper URL: https://www.ijtsrd.com.com/management/business-economics/55174/survival-of-smallscale-businesses-during-covid19-pandemic-challenges-impact-and-strategies-in-anambra-state/nwankwo-ekene-ezinwa