The impact of COVID-19 crisis on SMEs and their risk management and survival strategies: evidence from Nigeria

Book chapter

Ekanem, I. and Lawrence, D. 2023. The impact of COVID-19 crisis on SMEs and their risk management and survival strategies: evidence from Nigeria. in: Lodh, S and Nandy, M. (ed.) Corporate Risk Management after the COVID-19 Crisis World Scientific. pp. 121-152
Chapter titleThe impact of COVID-19 crisis on SMEs and their risk management and survival strategies: evidence from Nigeria
AuthorsEkanem, I. and Lawrence, D.
Abstract

This study aims to examine the effect of COVID-19 on the small- and medium-sized enterprises (SMEs) in Nigeria and their corporate risk management after the pandemic. The study employed a quantitative methodology to gather information from the SMEs in Nigeria. The findings indicate that Nigerian SMEs experienced the severity of the COVID-19 epidemic, with the majority of the companies surveyed saying that the current coronavirus outbreak had some influence on their firm, such as a reduction in income and the number of employees since the beginning of the pandemic. The findings suggest that conceptualising risk management in SMEs after the COVID-19 crisis within the context of three theories — the Keynesian Theory of Business Cycle, the Social-Ecological Theory, and the Social-Cognitive Theory — holds promise as the theories serve as explanation frameworks.

Sustainable Development Goals9 Industry, innovation and infrastructure
Middlesex University ThemeCreativity, Culture & Enterprise
Page range121-152
Book titleCorporate Risk Management after the COVID-19 Crisis
EditorsLodh, S and Nandy, M.
PublisherWorld Scientific
SeriesTransformations in Banking, Finance and Regulation
ISBN
Hardcover9781800614222
Electronic9781800614239
Electronic9781800614246
ISSN2752-5821
2752-583X
Copyright Year2024
Publication dates
Online04 Oct 2023
PrintOct 2023
Publication process dates
Deposited04 Oct 2024
Output statusPublished
Digital Object Identifier (DOI)https://doi.org/10.1142/9781800614239_0005
Related Output
Is part ofhttps://doi.org/10.1142/q0419
LanguageEnglish
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