Assessment Of Covid-19 Impact On Small And Medium Enterprises

Abstract

The coronavirus (COVID-19) is having a tremendous impact on global trade and the businesses that drive it. With countries in various stages of lockdown or loosening confinement periods, it is becoming clear that the pandemic has particularly impacted on small and medium enterprises (SMEs).  Based on the information gathered, it was revealed that during this pandemic, most of enterprises have difficulties in operating, especially with small and medium enterprises where these problems are more serious than for other enterprises as a result of the considerable decline in the demand for goods. This required SMEs to embark on internet-based platforms services; this can assist them in sustaining business during these critical periods. It therefore recommended that tax breaks should be given to all SMEs by the government at all level in order to restructure their business operations.