International Journal of Management, Accounting and Economics (Jun 2020)
The Impact of Global Covid-19 Pandemic on Small and Medium Enterprises in Ghana
Abstract
The general concern about the impact of covid-19 which was declared a pandemic by World Health Organization on businesses, livelihoods and economies is what triggered this research. The objective was to find out the impact of covid-19 on the statuses small and medium enterprises in Ghana using SME’s in the Kumasi Metropolis as the focus of study. The study adopted parameters such as revenue reduction, downsizing, reduction in demand, organizational restructuring, and fear of exiting business to assess the state of the various SME’s. Using a purposive sampling approach 120 online questionnaires were sent managers, supervisors, and business owners out of which 106 which were fully filled used for the study. The data obtained was coded and run using SPSS 26 and results used for discussions and analysis. The outcome of the study shows that the SME’s are battling to survive in the era of this pandemic as revenue reduction, downsizing, reduction in demand, organizational restructuring, and fear of exiting correlated positively to indicate the of the state of SME’s in the metropolis during this pandemic. This means covid-19 have really affected the operations of small and medium enterprises. SME’s must therefore initiate measures that would make them survive in the period of this pandemic and post covid-19.
