The Effect of Coronavirus Pandemic on Entrepreneurial Business in Developing Economies: Evidence from Lagos, Nigeria.

Abstract

The current coronavirus pandemic has affected many entrepreneurial ventures leading to close of business operations, loss of customers and low level of business value. In this paper, the study specifically investigates the effect of lockdown on entrepreneurial business in the Nigerian; and as well evaluates the impact of social distance on workers performance. To achieve the spelt objectives, the study utilized survey design; and data was collected though self-administered questionnaire from a number of 275 respondents who were staff of three randomly selected entrepreneurial firms in Lagos, Nigeria. Statistical technique software SPSS was employed to aid the data analysis. Having analyzed the data, the study found out that: Coronavirus pandemic crisis due to total lockdown negatively affected the productivity of large scale entrepreneurial businesses. It was also discovered that pandemic stimulated high demand for food stuff which encouraged panic buying. The work recommended that government should support entrepreneurial firms with financial and palliative measures so as to sustain their workforce during and after the crisis.