Effect of COVID-19 on the Performance of Small Businesses in Nigeria
Introduction: The study examined the effect of COVID-19 on the growth of small businesses in Nigeria. Materials and Method: In this study, survey research design was used with the aid of a close ended questionnaire which was administered to the respondents who were the owners of small businesses in FCT, Nigeria. The variables used were social distancing, lockdown, face mask and washing of hands which were used as measures of COVID-19 while number of customers, increases in sales or patronage and number of employees were used as measures of growth. The population of the study is the entire small businesses in FCT, and the sample size of 253 was derived using Taro Yamane formula. The variables were tested for reliability. The study used regression with the aid of SPSS version 20. Results: There was a negative and significant effect of COVID-19 on the performance (growth) of small businesses in Nigeria. Conclusion: The study recommended that Government of Nigeria especially Federal Capital Authority Administration in Nigeria should ensure provide financial assistance to small businesses to recover from the negative effect of COVID-19. They should encourage small businesses by removing them from multiple taxations so they can survive their businesses.