EFFECTS OF COVID-19 PANDEMIC ON SMALL AND MEDIUM

SCALE BUSINESSES IN PORT HARCOURT METROPOLIS

8 Jennifer N.B. IGWELA, PhD

Rivers State University, Port Harcourt
[email protected]

Abstract:
Purpose: The study investigated the effect of COVID-19 pandemic on small and medium scale
businesses in Port Harcourt metropolis
Design/Methodology/Approach: The descriptive survey research design was adopted for this study.
Three objectives and three research questions were formulated to guide the study. Descriptive
research survey was adopted. The population of the study is small and medium businesses which are
generally classified under; services providers, manufacturing and traders. Stratified random sampling
technique was used to select the SMEs then simple random technique was employed to select the
respondents. A total of 60 SMEs were selected for the study with 147 respondents. Questionnaire and
interview were the instruments used. A total of 55 copies of the questionnaire were used and 92
respondents were interviewed. The data was analyzed using mean score and simple percentages.
Findings: The result showed that COVID-19 pandemic has had a negative effect on SMEs as it has led
to low income, insufficient supply and sales fluctuations. The strategies adopted to survive in the wake
of COVID-19 include increase in the price of goods and services and operate skeletal. SMEs workers
although believe the outbreak of COVID-19 but not in Rivers State hence, expect government to allow
everybody go about their businesses
Implication: The study implies that for SMEs to strive in this era of new normal, SMEs owners will look
beyond physical marketing space and delve into digital marketing.
Originality/Value: It was recommended that SME workers should adopt digital marketing and
government should support SMEs by providing grants and a policy for easy operation
Keywords: Effect, COVID-19 pandemic, small and medium businesses, Port Harcourt.
Paper type: Empirical research

Organization (WHO) described global spread of

Introduction
COVID-19 as a pandemic. This is as a result of its
The spread of the coronavirus (COVID-19) is infectious effect on large proportion of people
increasing rapidly, leaving many small and over a wide geographical area. COVID-19 was
medium business enterprises owners uncertain first reported to WHO on the 31st of December,
about their future. It has become even more 2019 in Wuhan, China (NCDC, 2020). Nigeria
worrisome as the evolution of the disease and recorded its first case on Friday, February 27,
its economic impact is highly uncertain, which 2020 in Lagos (NCDC, 2020). In Rivers State the
makes it difficult for policymakers to formulate first case was recorded on the 25th march 2020
an appropriate macroeconomic policy response (www.premiumtimes.com.ng).Covid-19 virus as
(McKibbin & Fernando, 2020) Unfortunately, it opined by Surico & Galeotti (2020) is not ‘just’ a
seems the inability of the government to assist big shock on real economic fundamentals but
the small and medium business enterprises in also on the frictionless of the market. Also
flourishing are justified, where as there are COVID-19 brought a wall between demand and
measures that can be taken to protect small and supply having a strong feedback in the real
medium businesses while combating the economy, contraction in supply, leading to a
pandemic. contraction in demand, to contraction in supply
COVID-19 is a disease caused by (SARS-CoV-2) thereby causing a big destruction of economic
and labeled “coronavirus” or “novel coronairus. surplus. Bachman (2020) opined that COVID-19
“On March 11, 2020 the World Health could affect the global economy in thre

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Effects of Covid-19 Pandemic on Small and Medium Scale Businesses in Port Harcourt Metropolis

main ways: by direct effect on production, by manufacturing, servicing, financing,

creation of supply chain and market disruption, construction and infrastructure.
and by its financial effect on firms and financial
In both the developed and developing
markets. It was further stated that a great deal
countries, the government is turning to small
will depend on the public’s reaction to the
and medium scale industries, as a means of
disease. This could mean that businesses
economic development and a veritable means
despite the pandemic can flourish depending on
of solving problems. It is also a seedbed of
the nature of business
innovations, inventions and employment.
A business irrespective of the size, whether (Ogechukwu, Oboreh & Umukoro, 2013). Small
small, medium, big, simple, complex, private or and medium enterprises are the back bone of
public is created usually to provide competitive the economy in developed and underdeveloped
prices. Business in Nigeria can be classified as countries. Awe (as cited in Izediuno, Alice
small, medium and large. However, Small and &Daniel, 2018)opined that up to about 90% of
Medium Enterprises is a productive activity the business ventures operating in Nigeria as a
either to produce or distribute goods and or country can be referred to as small and medium
services, mostly undertaken in the informal scale enterprises (SMEs).The economic
sector (Momba, 2013). The Tanzanian contribution of SMEs to GDP and employment
Government (as cited in Momba, 2013) sees a of the countries are more than 50%. Thus all
small enterprise as an enterprise with 5-49 countries are keen on developing SME sector as
employees and a medium enterprise with 50-99 a major part of their economy (Divakara &
employees. Surang, 2018)
According to Oyelaran-Oyeyinka (2020) as Small and medium enterprises (SMEs) occupy a
published by the Financial Strategy System (FSS) significant position in the economic
defined SMEs as businesses with turnover of development of every nation, especially in
less than N100 MM per annum and/ or less than developing countries like Nigeria. The growth of
300 employees. According to him, in a study by SMEs is perceived globally as a key strategic
the IFC show that approx. 96% of Nigerian step towards job creation, poverty reduction
businesses are SMEs compared to 53% in the US and economic growth. LudovicaIoana (2011)
and 65% in Europe. It was further stated that stated that the role of small and medium
SMEs represent about 90% of the enterprises is worldwide acknowledged for their
manufacturing/ industrial sector in terms of unique contribution to the economic
number of enterprises. To European development. Both the developed countries and
Commission (as cited in Virglerova, Dobes, the ones in course of development realize that
Kramolis, & Kotaskova, 2017) a small scale the SMEs and the entrepreneurs play a vital role
industry can be explained by the criteria of in the industrial development of a country.
project costs, capital, number of employees, However, SMEs are affected by the problems of
sales volume, annual business turnover and the raw materials, finance, marketing,
financial. The main factors determining if a underutilization of capacity, etc. cash has
company belongs to the SME segment are become a big problem for small and even big
number of employees and annual turnover or businesses today. Lack of finance has driven
the annual balance sheet. There is no many small business units into bankruptcy.
universally accepted definition of SME. Different Cook and Nixson (as cited in Momba, 2013)
countries use various measures of size stated that despite the large contribution of
depending on their level of development. The SMEs in countries development and economic
commonly used yardsticks are total number of growth, their growth and development in
employees, total investment and sales turnover developing countries were mainly inhibited by
(Momba, 2013). Small and medium enterprises access of finance, poor managerial skills, and
encompass vast scope covering activities like lack of training opportunities and high cost of

67 | P a g e Journal of applied Information Science and Technology 14 (1)2021

 Jennifer N.B. IGWELA, PhD

inputs. In addition to the already existing survival of small and medium enterprises.
problem, the policy put in place by the Several studies have been carried out on small
Government in response to COVID-19 has and medium enterprises with empirical
worsened the situation. evidence lacking but no study to the
researchers’ best of knowledge has been done
To curb the menace of COVID-19 pandemic, the
on the effect of COVID-19 pandemic on small
government at all levels directed the closure of
and medium enterprises in Port Harcourt
schools, markets and other social activities or
metropolis and this study sought to fill the gap
social gathering leading to a decline in economic
and provide empirical evidence.
activities. SMEs are now faced with the
challenges of low turnout of customers, low Objectives of the Study
income, insufficient supply, cost of goods and
The major objective of the study is to
services, market fluctuations among others.
investigate the effect of COVID-19 pandemic on
Consequently, SMEs expect the government to small and medium enterprises in Port Harcourt
protect their businesses in the wake of COVID- metropolis. The specific objectives are to:
19 pandemic perhaps by providing palliatives
1. Determine the effect of COVID-19
such as grants, loan, financial support,
pandemic on small and medium scale
protecting workers at the work place, interest
enterprises in Port Harcourt metropolis
rate cut, tax break and waivers, stimulate
economy and labor demands and policy that 2. Identify the strategies taken by SMEs to
will allow easy operations(Hossain as cited in strive in the wake of COVI-19 pandemic
Momba, 2013). Assisting SMEs will be of great in Port Harcourt metropolis
significance to both the economy of the nation 3. Discover the perception of SME owners
and at the individual level as it will allow about COVID-19 pandemic in Port
individuals to buy basic needs for survival. On Harcourt metropolis
the other hand the effect of COVID-19 on SMEs
could lead to shortage of supply, high demand Research questions
and economic recession. It is therefore, 1. What are the effects of COVI-19
necessary to investigate the effect of COVID-19 pandemic on SMEs in Port Harcourt
pandemic on Small and Medium Scale metropolis?
Enterprises.
2. What are the strategies taken by SMEs
Statement of the Problem owners to strive in the era of COVID-19
The continuous increase in the number of cases in Port Harcourt metropolis?
of COVID-19 pandemic is forcing government to 3. What are the perceptions of SMEs
place stricter measures by imposing a lockdown workers about COVID-19 pandemic in
on both interstate and within the state. This is Port Harcourt metropolis?
having a diminishing impact on virtually every
business including small and medium Review of Related Literature
enterprises because it is slowing down the Social distancing-based measures, such as
Nigerian economy, interrupting or minimizing extensive travel bans mass, quarantines and
production and supply of goods and services, transportation system disruption is a shock to
companies across the world, irrespective of size economy as it leads to a shrink the market
are being affected, the impact on transportation demand in the service sectors that are essential
can be noticed on the restriction of movement for many SMEs that rely on customers visit and
on land, sea and air among countries which has patronage (Buoey, 2020). The shock and
further slowed down supplies. Global financial uncertainty of the effect of the COVID-19on
markets have also been affected. Most small business owners is staggering and likely to
importantly, consumers’ usual consumption be substantial forcing entrepreneurs to change
pattern has reduced. Consequently, small and their line of thoughts towards taking drastic
medium enterprises are at a risk because the steps to continue operating and many are
above affected are the indices that make up the fearful about their futures (Jake, 2020).

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Effects of Covid-19 Pandemic on Small and Medium Scale Businesses in Port Harcourt Metropolis

According to International Labor Organization, seen reduced customer demand. And 38%
ILO (2020) “COVID-19 will impact the world of aren’t confident in the financial future of their
work across three key dimensions: 1) The business, up markedly from 15% in January
quantity of jobs (both unemployment and (Hannon, 2020)
underemployment); 2) The quality of work (e.g.
McKibbin & Fernando (2020) propose three
wages and access to social protection); and 3)
potential scenarios based on the strength of the
Effects on specific groups who are more
effects of the virus (low, mid and high). Using
vulnerable to adverse labour market
these three scenarios results in three sets of
outcomes”.
unemployment estimates: Low” scenario where
“The crisis has already transformed into GDP growth drops by around 2 per cent, “Mid”
an economic and labour market shock, scenario where GDP growth drops by 4 per cent
impacting not only supply (production and “High” scenario where COVID-19 has
of goods and services) but also demand serious disruptive effects, reducing GDP growth
(consumption and investment). All by around 8 per cent.
businesses, regardless of size, are facing
Buoey (2020) found that not all retail sectors
serious challenges with a real threat of
experienced losses. According to him, Kantar
significant declines in revenue,
(an international consulting company) report
insolvencies and job losses in specific
showed that while businesses relying on
sectors. Following travel bans, border
physical space and shops, such as supermarkets,
closures and quarantine measures,
traditional food markets, restaurants, car
many workers cannot move to their
dealers, movie theaters, gyms, and bars,
places of work or carryout their jobs,
suffered losses, local neighborhood markets
which have knock-on effects on
(convenience stores) and online markets
incomes, particularly for informal and
flourished. It was also discovered that there was
casually employed workers. Consumers
increase in personal health–related product
in many economies are unable or
sales such as hand sanitizers, personal
reluctant to purchase goods and
protection gear, and vitamins and supplements.
services. Given the current environment
The study also found a low turnout on the sales
of uncertainty and fear, enterprises are
of meat/fruit, snacks, luxury goods which
likely to delay investments, purchases of
recorded more than a 40 percent drop.
goods and the hiring of workers”. (ILO,
2020, ilo.org/global. Aleksandr,Jaroslav,Ludmila, & Pavla (2016)
investigated the entrepreneurial perception of
Abbeh (2017) evaluated the challenges,
SME business environment quality in the Czech
prospects and government efforts and the
Republic and found that 45.49 % of
influences they have on SMEs in Nigeria.
entrepreneurs think that SMEs have difficulties
Descriptive research design was adopted. Data
in access to external sources of financing
were analyzed using the statistical package for
(financial markets, banks, loans from the
the social sciences (SPSS) version 23 and
State).The results also indicated that the
descriptive statistics (frequencies and
business environment is more challenging for
percentages). The study found that the
microenterprises.
challenges of SMEs significantly affect the
growth and development of SMEs. Government Literatures have been reviewed on the impact
efforts were found to significantly affect the of Small and Medium Enterprises. Most of the
growth and development of SMEs in Nigeria. studies are conceptual and lack empirical
However, the prospects of SMEs in Nigeria do evidence and none of the studies addressed the
significantly affect its growth and development. effect of COVID-19 pandemic on SMEs in Port
Harcourt metropolis. This study therefore
A National Small Business Association member
provides more literature and empirical evidence
survey found that three in four small-business
on the effect of COVID-19 pandemic on SMEs in
owners are very concerned about the economic
Port Harcourt metropolis.
impact of COVID-19. Almost half have already

69 | P a g e Journal of applied Information Science and Technology 14 (1)2021

 Jennifer N.B. IGWELA, PhD

Methodology instruments used for the study. A total of 55

copies of the questionnaire and 92 interview
The study adopted a descriptive research
responses were found valid for analysis. The
survey. The population of the study is small and
questionnaire included a four point likert scale
medium businesses which are generally
(4-1). The interview questions were structured
classified under; services providers,
in tandem with the questionnaire in such a way
manufacturing and traders as stated in the table
that the responses were recorded as that of the
below. Stratified random sampling technique
questionnaire. The data were analyzed using
was used to select the SMEs then simple
simple percentages and mean scores. Decision
random technique was employed to select the
was based on the reference mean of 2.5. Any
respondents. A total of 56 SMEs were selected
score with 2.5 above was accepted and below
from which 147 responses were used.
rejected.
Questionnaire and interview were the
Table 1 Distribution of Respondents
Business that participated No. of Businesses No.of
that Participated respondents
Service providers: saloons, hospitals, transportation, laundry, 15 46
network providers
Manufacturing: furniture manufacturers, bread 13 34
manufacturers, tailoring, shoe producers,
Traders: retail shops (mix), clothe shops, food vendors, 32 67
cosmetic shops, building materials, petrol stations
Total 60 147

Findings of the study

Table 2: Effect of COVI-19 Pandemic on Small and Medium Business Enterprises (147)
How would you agree or disagree to the impact of SA A D SD Mean Decision
COVID-19 on your enterprise
Low income 57 65 25 - 3.1 Agree
Low turnout of customers 59 66 24 - 3.3 Agree
Reduction in the cost/price of goods and services 10 24 81 32 2.1 Disagree
Increase in the cost of goods and services 30 76 29 12 3.0 Agree
Sales fluctuations 35 79 23 10 2.9 Agree
Insufficient supply of goods 27 64 33 23 2.6 Agree
High demand of goods and services 12 26 78 31 2.1 Disagree
turnout of customers (3.3), low income (3.1),
The table shows the impact of COVID-19
increase in the cost of goods and services (3.0),
pandemic on small and medium scale
sales fluctuations (2.9), insufficient supply of
enterprises. Using a 4 point likert scale ranging
goods (2.6). On the other hand high demands of
from Strongly Agree (SA=4), Agree (A=3),
goods and services and reduction in the
Disagree (D=2) and Strongly Disagree (SD=1). It
cost/price of goods and services have mean
revealed the impact of COVID-19 pandemic on
scores of 2.1 each
small and medium scale enterprises were low

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Effects of Covid-19 Pandemic on Small and Medium Scale Businesses in Port Harcourt Metropolis

Chart Title
100%
80%
60%
40%
20%
0%
Reduce
Increase
Disengag Operate productio Reduce
Adopt Cut the price
Change e some skeletal n/large sales for Reduce
online employee of goods
business employee amidst purchase another services
marketing s’ salaries and
s lockdown of goods time
services
for sale
Yes 21% 37% 9% 13% 69% 79% 77% 17% 7%
No 79% 63% 91% 87% 31% 25% 23% 83% 93%
Fig. 1: Strategies taken by the SMEs owners to survive in the Wake of COVID-19
the wake of the pandemic. On the other hand,
Fig. 1 shows the strategies taken by SMEs
Most of the SMEs did not reduce services (93%),
owners to strive in the wake of COVId-19
cut employees’ salaries (91%), disengage
pandemic. It shows that reduced production
employees (87%), reduce sales for another time
and large purchase of goods for sale (77%),
(83%), change business line (79%) and adopt
increase in the price of goods and services
online marketing (63%)
(79%) and operates skeletal amidst lockdown
(79%) were the strategies adopted to survive in
Table 5.3: Perception about COVID-19 pandemic
What are your perception about COVID-19 SA A D SD Mean Decision
pandemic
COVI-19 is not real 11 20 80 36 2.0 Disagree
COVID-19 is real but not in Nigeria 10 60 49 28 2.4 Disagree
COVID-19 is real in Nigeria but not in Rivers State 22 69 33 23 2.6 Agree
Government is politicizing COVID-19 60 58 24 5 3.2 Agree
Government Should allow everybody to go about 32 85 23 7 3.0 Agree
their businesses
Government Measures are causing more harm 20 70 31 26 2.6 Agree
than good
Changing business should be encouraged 8 21 80 38 2.0 Disagree
Adopting digital marketing should be strongly 65 82 - - 3.4 Agree
encouraged
Nigeria (2.4), COVID-19 is not real (2.0) and
The table shows the perception about the
changing business should be encouraged (2, 0).
COVID-19 pandemic. Most of the respondents
were of the perception that adopting digital Summary of the Findings
marketing should be encouraged (3.4),
1. The finding of research question one
government is politicizing COVID-19 (3.2),
revealed that the COVID-19 pandemic had
government should allow everybody to go
a negative effect on small and medium
about their businesses (3.0), COVID-19 is real in
businesses
Nigeria but not in Rivers State (2.6), government
measures are causing more harm than good 2. The finding of research question two
(2.6). On the other hand, the respondents shows that operating skeletal and
disagreed that COVID-19 is real but not in increasing the price of goods and services
were the strategies adopted by small and

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 Jennifer N.B. IGWELA, PhD

medium business workers to survive the causing more harm than good therefore, should
wake of COVID-19 pandemic allow everybody to go about their businesses.
They thought changing business should not be
3. The finding of research question three
encouraged rather adopting digital marketing
showed that small and medium businesses
should be encouraged. This could be due to the
workers had a negative perception about
paradigm shift in the adoption of online
the COVID-19 pandemic
marketing by both the entrepreneurs and the
Discussion of the Findings consumers as rightly put by Buoey (2020) that
In research question one, respondents were not all retail sectors experienced losses. While
asked to identify the effect of COVID-19 businesses relying on physical space and shops,
pandemic in their businesses. It revealed that such as supermarkets, traditional food markets,
the effect of COVID-19 pandemic on small and restaurants, car dealers, movie theaters, gyms,
medium scale enterprises were low turnout of and bars, suffered losses, local neighborhood
customers, low income, increase in the cost of markets (convenience stores) and online
goods and services, sales fluctuations and markets flourished.
insufficient supply of goods, low demand of Conclusion
goods and services and there was no reduction
The prospects of SMEs to Nigeria growth,
in the cost/price of goods and services. This
development and industrialization, wealth
shows that COVID-19 pandemic has a negative
creation, poverty reduction and employment
impact on small and medium scale enterprises.
creation is staggering. The realization of its
This could be attributed to the measures taken
significance requires drastic measures for
by the government in containing the pandemic
survival of SMEs especially in the wake of
which has reduced the flow of income and
COVID-19 pandemic. The emergence of COVID-
consumption of goods and services. The study
19 and its widespread has had an adverse effect
corroborates with the study carried out by the
on activities of small and medium businesses
National Small Business Association (Hannon,
and the economy of the nation. Consequently
2020) who found that three in four small-
an emergency response is needed to save
business owners were very concerned about the
Nigeria’s economy which is dependent on the
economic impact of COVID-19. It was further
activities of SMEs from though already inimical
confirmed that half have already seen reduced
situation but necessary as it is almost sliding
customer demand and 38% were not confident
towards economic recession. The study
in the financial future of their business
investigated the effect of COVID-19 pandemic
In research question two, the respondents were on small and medium businesses. It was found
asked to ascertain the strategies taken to that although the pandemic has adversely
survive in the wake of the pandemic, it was affected the activities and the income level of
found that increase in the price of goods and SMEs, to stay alive they had to increase the
services and operating skeletal amidst lockdown price of goods and services and operate
were the strategies adopted. On the other skeletally. It was requested that government
hand, Most of the respondents did not reduce should allow everybody to go about their
services, cut employees’ salaries, disengage businesses. This is because they lack confidence
employees, reduce sales for another time, in government’s measures in the fight of the
change business line, reduce production and pandemic. In conclusion, despite the negative
adopt online marketing, Buoey (2020). effect of COVID-19 on SMEs, some
In research question three the respondents entrepreneurs are leveraging the opportunity to
were asked to express their perception about exploit. Some businesses are even going digital
COVID-19 pandemic. It shows that small and and including goods and services that the
medium workers believe that although the pandemic has necessitated.
pandemic is real in Nigeria but not in Rivers Recommendation
state that government is politicizing the
Based on the findings of the study it is
pandemic also, the measures put in place are
recommended that:

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Effects of Covid-19 Pandemic on Small and Medium Scale Businesses in Port Harcourt Metropolis

1. Small and medium enterprises should enterprises in Nigeria. International Journal of

consider adopting digital marketing to Small Business and Entrepreneurship Research
minimize the negative effect of pandemic 6 (2), 32-46
which was culminated by contact with Jake, L. (2020) How Corona virus (COVID-19) is
Impacting Small Businesses. Retrieved June 7,
2. The government should provide support
2020 from
for small and medium scale enterprises by https://www.business2community.com/small-
providing grants, waive tax as well as a business/how-coronavirus-covid-19-is-
flexible policy that will aid easy operation. impacting-small-businesses
3. The small and medium scale workers McKibbin, W. & R. Fernando (2020) The Global
should not see COVID-19 as a scam rather Macroeconomic impacts of COVID-19: seven
they should assist in the fight against scenarios. Retrieved May 24, 2020 from
COVID-19 pandemic by adhering strictly to https://www.brookings.edu/research/the-
all the measures to contain the virus. global-macroeconomic-impacts-of-covid-19-
seven-scenarios
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73 | P a g e Journal of applied Information Science and Technology 14 (1)2021