Original Research Article | OPEN ACCESS

Covid-19 and the Performance of Small and Medium-Scale Businesses in Benin City, Nigeria

For correspondence:-    

Received: May 05 2022        Accepted: August 12 2022        Published: September 30 2022

Citation: Covid-19 and the Performance of Small and Medium-Scale Businesses in Benin City, Nigeria. Account Tax Rev 2007; 6(3):24-40 doi:

© 2007 The authors.
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Abstract

 

This study examines the impact of the COVID-19 pandemic on the performance of businesses in Benin City. The study adopts a quantitative research technique using a data collection method through the administration of a structured questionnaire. Findings from the analysis indicate that the COVID-19 pandemic’s effect includes: loss of competent staff resulting from a reduction in staff salary, low revenue or income generation, lack of patronage, and lack of sincerity on the part of the government to re- duce the prevalence of the pandemic. The study recommends that government, NGOs and organisations should introduce a well-monitored and structured palliative scheme, poverty alleviation programs, reduced interest rates, relaxed loans and deferred tax payments. Finally, there should be an Adoption of an E-Business model for businesses.

Keywords: COVID-19, Lockdown, Business Performance, Covid-19, Money supply, Volatility