Assessment of Global COVID-19 on SMEs: An Emphasis on Businesses at the Technological Incubation Centre, Nigeria

Abstract

The purpose of study is the assessment of global Covid-19 on small and medium scale enterprises (SMEs) with the case of Technological Incubation Centre (TIC), Ibadan. Three research objectives were raised. A descriptive survey research design was used. The population of the study is 29 (twenty-nine). Total Census survey was adopted as the sampling technique. SPSS software 20 analysis was used to analyze the data. The study concluded that, there has been increase in all the inputs needed for the production processes at the Centre. Therefore, sales of goods at the period of the Covid-19 have been negatively affected, which has similarly impacted on employment generation. It’s recommended that the management of the TIC should assist the businesses to mitigate the adverse effect of the Covid-19; while the Nigerian government should consider the SMEs as an important sub-sector that could restore the economy to the period of better economic growth.