VOLUME I
INTRODUCTION
STUDY CONTEXT AND INTRODUCTION
There can be little doubt that Nigeria is one of the most important economies in Sub-Saharan Africa1. There are pockets of global entities in practically every area of the economy that support her economy, including multinational companies with regional headquarters, indigenous enterprises and a large number of small and medium-sized businesses (SMEs). Businesses having less than a certain number of workers are known as small and medium-sized enterprises (SMEs). This number varies from nation to country. The most typical upper limit for designating a SME in the European Union is 250 employees. The US defines SMEs as enterprises with less than 500 people, although other nations limit the number of workers to 200. Companies that employ less than 50 people are called small enterprises; those that employ fewer than 10 people are called micro businesses. Businesses having an annual revenue of less than 500,000 Naira were defined as SMEs by the Central Bank of Nigeria in its 1988 monetary policy circular No. 22. (N500,000). It is for this reason that a clear difference has been drawn in the National Policy on Micro, Small, and Medium-Sized Enterprises (SMEs): companies are classified as either reliant on employment or assets. A company's capital, project scope and expenditure, yearly revenue, financial soundness, and the number of employees are all variables that may be used to classify it as a SME.
Nearly 84 percent of Nigeria's workforce is made up of micro, small, and medium-sized businesses (SMEs), according to the country's Ministry of Industry, Trade, and Investment. Small and medium-sized enterprises (SMEs) make up about half of Nigeria's GDP, as well as 7.27 percent of the country's total exports. Small firms account for 68,168 of Nigeria's SMEs, while medium-sized ones account for 4,670. Of them, 36,994,578 (approximately 99.8 percent) are micro enterprises. Lagos, Oyo, and Kano are Nigeria's three most populous states in terms of small and medium-sized enterprises (SMEs).
1.2 DEFINITION OF THE ISSUE
The Coronaviridae family includes a number of viruses that may infect both animals and humans. Coronaviruses in humans may cause minor sickness, such as a cold, or more severe illness, such as MERS (Middle East Respiratory Syndrome) and SARS (Extreme Acute Respiratory Syndrome) (Severe Acute Respiratory Syndrome). China's Wuhan province was the site of the discovery in December of a hitherto unknown coronavirus. Signs and symptoms of respiratory illness include fever, cough, and shortness of breath. Pneumonia, severe acute respiratory syndrome, and even mortality may occur as a result of infection. Sneeze or cough with the nose and mouth covered by a flexed elbow or disposable towel, and avoid direct contact with someone who is sick. Global scientists, governments, and allies are collaborating with WHO to raise public awareness about this new virus and provide timely advice on how to limit the sickness from spreading and harming people. The Nigerian government developed a "Corona-virus readiness team" prior to the entrance of COVID-19 into the nation ( Nigeria Centre for Disease Control). An indirect link to China or substantial traffic to and from China are two factors that make Nigeria one of the top thirteen nations that are likely to import COVID-19.
As the COVID-19 looms, the livelihoods of many dealers and small business owners are at danger. New Goldman Sachs research shows that 50% of business owners feel they won't be able to keep their businesses running for more than three months after the financial crisis. Many obstacles confront business owners today, including the need to keep the firms in which they have committed their blood, sweat, and tears running.. It's a huge task for them since they've all got exhausted employees to protect and reassure. Businesses and their operations have been affected by COVID-19, from the shutdown of factories and activities to a drop in consumer confidence. Companies throughout the globe have been adversely affected by the Corona Virus.
1.3 PURPOSE OF THE EXAM:
Nigeria's or small and medium-sized businesses may be affected by the Corona Virus (COVID 19).
An evaluation of small and medium-sized businesses in Nigeria to determine the impact of the Corona virus (COVID 19).
1.4 QUESTIONS IN THE RESEARCH PROCESS
Is there any evidence that the Corona virus has affected Nigeria's small and medium-sized businesses?
Do small and medium-sized businesses in Nigeria benefit from the corona virus?
The study's significance is estimated as 1.5.
In addition to being valuable to other academics, intellectuals, and students interested in this topic, this study sheds light on the effect of Covid 19 on small and medium-sized enterprises.
1.6 AIM OF THE EXAMINATION
This study was conducted out in Keffi, Nasarawa state, and only looked at the effects of covid 19 on small and medium-sized enterprises.
1.7 RESTRICTIONS ON THE STUDY
The researcher had difficulties with funding, as well as a shortage of resources and a tight timeline.
THE DEFINITIONS OF TERMS
This broad family of viruses has been implicated in a wide range of illnesses, from the common cold to more serious conditions including the Middle East Respiratory Syndrome (MERS) and the Severe Acute Respiratory Syndrome (SARS).
(SARS).
SMEs: The term "small and medium-sized business" (SME) has a wide variety of meanings throughout the globe. The size of a small and medium-sized enterprise (SMEs) is dictated by the nation in which it operates. If a firm is classified as a small or medium-sized enterprise (SMEs) in one nation, it may be based on a range of reasons. In addition to revenue, a company's size may be determined by its number of workers, total assets, market value, or any combination of these factors.
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