Open AccessImpact of Coronavirus Disease (Covid-19) On Business in Edo State, Nigeria
Publication year - 2021
Publication title -
european journal of business and innovation research
Language(s) - English
Resource type - Journals
eISSN - 2053-4027
pISSN - 2053-4019
DOI - 10.37745/ejbir.vol9.no2.p12-26.2021
Subject(s) - cronbach's alpha , credence , cash flow , business , covid-19 , profit (economics) , crunch , accidental sampling , marketing , descriptive statistics , finance , economics , infectious disease (medical specialty) , disease , statistics , medicine , mathematics , population , physical therapy , environmental health , pathology , microeconomics , service (business)
The study assessed the impact of COVID-19 on business in Nigeria. Four research questions gave focus to the study. 234 respondents were used using an accidental sampling technique. A descriptive survey gave credence to the study. A reliability coefficient of 0.79 was obtained with the use of Cronbach alpha formula. Data was obtained with the aid of questionnaire. Research questions were answered with mean. From the result, it was discovered that COVID-19 impacted profit, sales volume and business cash flow. The study concluded that COVID-19 has impact on profit, sales volume and cash flow of business. It was also concluded business derived a lot of benefits from COVID-19 pandemic. Consequently, it was recommended that business owners should engage in market timing to enable their customers to know their time of opening, engage more in online sales to increase sales volume, as well engage in massive savings to avoid cash crunch during economic crises.