Exploration of covid 19 and its impact on sustainabilityof small and medium scale business in nigeria

The challenges that came with the COVID-19 pandemic affected several aspect of the economies of nations; including the growth and development of SMEs. This influenced this study with the objective of unearthing the impact of the COVID-19 on the growth of small and medium enterprises in Lagos State Nigeria. The study adopted the qualitative research method as its methodology and through the instrumentality of Focus Group Discussion and the Key Informant Interview, the study collected primary data from a sample of 12 business owners in Lagos. The qualitative method of narration and theming was used to analyze the data. The study found that COVID-19 affected SMEs; the respondents stated that, COVID-19 upset inventory of merchandise thus entrepreneurs could not import products and as a result, they ran out of merchandise. The respondents also revealed that, ROI was highly impacted in this way draining incomes and benefits. The study recommended that the government of Nigeria should charge a reduced loaning rate on small businesses, as will help to keep SMEs functioning during and after the COVID-19 scourge.