COVID-19 AS A TASK ENVIRONMENTAL FACTOR AND THE PERFORMANCE OF SMALL AND MEDIUM-SIZED BUSINESSES IN NIGERIA
Abang, Stanley E.
Volume 8 Issue 1
Abstract
Small scale businesses have been adjudge as the major contributor to the gross domestic product (GDP) of any economy be it developed or developing economy, but the survival and performance of these small scale business have been threaten by the COVID-19 pandemic as a task environmental factor, this threat is made worst when it is coming from outside the business environment that the venture manager have little or no control over. This article conceptually reviewed the influence of COVID-19 as a task environmental factor on the survival and performance of small and medium-sized businesses enterprise in Nigeria. The paper relies mostly on secondary documentations, where previous work done in this area of interest were down loaded and critically reviewed in line with the objective of the study. There is a convergent of thoughts among scholar that COVID-19 negatively affected SMEs performance and survival across the globe especially developing countries like Nigeria due to her over dependent of raw materials from abroad. Based on the reviewed articles, this article recommends that, each country should adopt the control measure that suits its peculiar situation in curbing the spread of the virus (COVID-19 or any other disease) and not a universal method of total lock-down and travels band that negatively affect SMEs production and distribution capacity and crumble the entire production sector of the Nigerian economy with its attendance consequence Keywords: Business Performance and Survival, COVID-19, Environmental Factors, Task Environment, Small Scale Business
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