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 available information, it shows that during this pandemic, most of these enterprises found it difficulties to operate, especially with small and medium enterprises where these problems are more serious as a result of the considerable decline in the demand for goods and services. This required SMEs to embark on internet-based platforms services as alternative means of sustaining their business during these critical periods. On this note, tax breaks should be given to all SMEs by the government at all level to sustain the growth of small and medium enterprises.