Post-Pandemic Sustainable Strategies for Nigerian Small- and Medium-Sized Enterprises

Abstract:

The sustainability of small and medium enterprises (SMEs) has gained much attention from policymakers and scholars in the past decade. Undoubtedly, the emergence and corresponding consequences of the COVID-19 pandemic have ignited much inquisitiveness from researchers regarding the sustainability and viability of small- and medium-sized enterprises. Consequently, this study carried out an empirical exploration of feasible strategies that can be utilized and employed by SMEs in Nigeria in the post-COVID-19 endemic era. In the course of the study, four SME sustainable strategies were developed from the analysis conducted thematically, namely cost-minimization measures, mastering customer relationship dynamics, creativity and innovation, new-culture embrace and collaborative strategies. The findings derived from the study are expected to be of great assistance to practitioners and policymakers in making thorough and comprehensive decisions that are related to the sustainability of SMEs in Nigeria anchored on empirical evidence.