Coronavirus Pandemic And Financial Performance Of Small And Medium Enterprises In Calabar Metropolis.

Abstract

This study empirically evaluates the impact of Coronavirus pandemic on financial performance of Small and Medium Enterprises (SMEs) in Calabar metropolis. Survey research design was used to gather information for the study. Information was also gotten from Secondary sources. The study anchored on Viral Modernity theory and the Social ecological theory. Ordinary least square technique was used to analyses the data. The results revealed that there was a significant impact of lockdown on performance of SMEs in Calabar metropolis. There was significant relationship between restrictions on movement and performance of SMEs within Calabar metropolis. Furthermore, the findings revealed that there was a significant relationship between market closure and performance of SMEs. Finally, there was significant relationship between social distancing and performance of SMEs within Calabar metropolis. Based on the findings, it was recommended that government should revive the economy by providing palliatives (in form of cash) and other incentives that will cushion the effect of Covid-19 on production and performance of SMEs in Calabar metropolis.