IMPACT OF ECONOMIC RECESSION ON SMALL AND MEDIUM-SCALE ENTERPRISES (A STUDY OF VIABLE SMEs IN ANAMBRA STATE OF NIGERIA)

J. A. Okeke-Ezeanyanwu

Abstract


The study investigate the impact of economic recession on viable Small and Medium Scale Enterprises in Anambra State of Nigeria. The study had three objectives and three research questions. The study adopted discipline survey research design and had a population of 349 viable SMEs. The entire population was used for the study. There was no sampling. A structured questionnaire was used as the instrument for data collection. Cronbach Alpha reliability method was used to determine the Internal Consistency of the questionnaire items. A co-efficient of 0.87 was obtained. Frequencies and simple percentages were used to analyze the research questions. Results were presented in tables. Findings of the study revealed among others that scarcity of foreign exchange caused economic recession and that economic recession brought about closure of business, loss of jobs etc. it was recommended among others that government at all levels should introduce price regulation and business coping strategies enlightenment programmes to assist SMEs operators.

Keywords


Economy, Recession, Small and Medium-Scale Enterprises (SMEs)

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