EFFECT OF COVID-19 PANDEMIC ON THE ACTIVITIES OF SMALL SCALE BUSINESSES IN OSUN STATE, NIGERIA

Abstract

If COVID-19 were to be a human being, it would have been taken as a classical example of an entrepreneur. It was seen as a disruptor who eliminates some businesses, places others into a limelight and changes forever the way the world does businesses. The study examined the effect of COVID-19 pandemic on the activities of small scale businesses in Osun State, Nigeria. Structured questionnaire was used to collect data from one hundred and sixty (160) respondents out of 2,325 registered small scale business owners through simple random sampling technique. Descriptive statistics was used with the aid of Statistical Package for Social Sciences (SPSS) version 21 to analyze the data collected in order to examine the effect of independent variable (COVID-19 pandemic) on dependent variable (business activities). The study revealed that the independent variable has both negative and positive influences on the dependent variable in the study area. This implies that COVID-19 pandemic has a strong influence on the activities of small scale businesses in Osun State, Nigeria during the period under review. The paper concluded that the emergence of COVID-19 created strong challenges for small business owners. It also concluded that the development of survival strategies and governments supports helped the small business owners in the State to manage and survive the identified and other challenges created during COVID-19 period. It is therefore, recommended that small business owners, governments, non-governmental organisations and other stakeholders should give more attention to plans, policies and programmes that encourage present and future sustainability of small businesses in Osun State and in the country at large.