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The Impacts of COVID 19 on Small and Medium Enterprises

Article · September 2020

DOI: 10.7176/EJBM/12-25-11

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European Journal of Business and Management www.iiste.org
ISSN 2222-1905 (Paper) ISSN 2222-2839 (Online)
Vol.12, No.25, 2020

The Impacts of COVID 19 on Small and Medium Enterprises

Abdulkadir Ahmed Warsame

Director of research, postgraduates and innovation at Puntland State University (PSU) and the Executive
Director of Center for Business and Human Development (CBHD)

ABSTRACT
This study was aimed to assess the impacts of COVID 19 on the Small and Medium Enterprises (SMEs). The
SMEs contributes country’s economy, it is an income opportunity for the society, and it creates employment
opportunities for the youth, women and the entire society. COVID 19 has grown into an unprecedented health,
economic, social, business and the entire cycle of the life. Current outbreak has severe economic consequences
across the globe. To limited spread of this pandemic the global government should admire steps to curb
the spread of the COVID19, through this the government imposed nightly curfews, a ban on public events, social
distance, stay at home, the closure of non-essential business. This study is limited to SMEs located in Garowe
to assess how the pandemic was affected the SME’s supply and demand, revenue, the employees and other business
operations. The study deployed quantitative method of research with questionnaire and telephone interview for
collecting data from selected respondents.
The study found that the supply decreased 38% whereas the demand declined 83% as the respondents of the study
confirmed. The income experienced 89% of fall down and pressured that 60% SMEs reduced the working hours.
On the other hand 75% of the respondents confirmed that they are planning or already lay off the employees. Most
of the SMEs met decline of cash, the cash receipts from sales declined 72%, also the accounts receivable reduced
61% this resulted that 64% SMEs failed to cover the operating expenses. The SMEs faced financial distress or
insolvency which resulted to trigger massive job losses and the shuttering of businesses. The COVID 19 has
potentially dire implications for SMEs, it needs financial assistance to protect the lives and livelihoods of people,
especially the most vulnerable.

Finally the study recommends for the SMEs stakeholders including the chamber of commerce, government,
international partners, banks and other interested parties is a needed to take an urgent stimulus package to support
immediate liquidity challenges and negative impacts raised from the containment of COVID 19 and to sustain
their existence and developments.

Key words: COVID 19, Small and Medium Enterprises (SMEs), supply and demand, revenue, temporarily or
permanently closure

DOI: 10.7176/EJBM/12-25-11
Publication date: September 30th 2020

Background Information
COVID-19 has become a global emergency with leaving of death, economic and business devastation, it impacted
on the health system, economy, business, social movements, employees and employment opportunities. Global
governments-imposed restrictions to contain the spread of COVID 19 including; stay at me, quarantine, social
distance and limitation of social movements all these steps are resulted the decline of supply and demand, the
SMEs experienced dramatic revenue drops, and this may increase the unemployment rate and prices of necessary
goods. The SMEs overwhelming competing challenges raised from the COVID 19 had taken steps to continue the
existence including the reduction of working hours, dismissal, halting some of business operations, temporarily
close, it increased the existing inequalities and vulnerabilities among the societies.

Definition of Small and medium enterprises (SMEs) is different from country to country, it depends on the
country’s economic development and the role of SMSs in the country. Also, the SMEs determine the size of the
business, the capital investment, the assets and business’ operations. According to Pakistan Central Bank SMEs is
characterized by the employment, asset or the combination of both (Jasra, et al., 2011). Normally a business is an
enterprise that produces goods or service for provision of customer’s satisfaction. SME positively contributes the

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Country’s economy, it creates opportunities to the local communities both employment and business
opportunities and it fulfills community needs, most of the countries realized the importance of SMEs towards to
country’s productivity (Jasra, et al., 2011).

Currently the confirmed cases in Somalia are low comparing to other countries in the horn of Africa, this could
change at any time (MoH, 2020). The impact of this pandemic increased the likely hood of poverty and
inequalities in the entire world, during the emergencies of pandemic the global governments put highest priority
to minimize the shortage of Personal Protective Equipment (PPE), ventilators, facemask, sanitizers to curb the
outbreak of COVID 19. There are number of health worker that working on the frontline of this pandemic was lost
(MoH, 2020). The rapid spread of the virus has exacerbated an already fragile economic situation in Somalia,
there are a number of Small businesses temporally or permanently closed the doors of their business. The business
transactions halted after when the sales projection and business plans dragged down and businesses faced
uncertain, traumatic and panic to cover the operating expenses. The businesses that had dramatically impacted
includes; travelling agencies, hotels, restaurants, cafeterias, shops, Khat sellers, road side businesses, hairdressers,
supermarkets. An observation made by the researcher indicating that the items of the sanitary and hygiene kits’
prices increased as well as soap, shampoo, masks, and gloves’ prices are also increased due to dire demand and
less supply especially masks and gloves.

A rapid assessment conducted by the Ministry of Women and Human Rights Development revealed that COVID
19 was seriously impacted by the women in small-scale business, the study highlighted that the government’s
regulations combating the COVID 19 reduced mobility in Mogadishu has seriously shrunk the sales volume and
made the women led business to face challenges and fail to pay the running costs (MOWHRD, April 2020).

In Somalia the sources of funds are very limited, there is no direct foreign investment in the country, there is no
international banks for business investments and the government’s support is limited to basic services, there ar e
some international partners supports the SMEs in the areas of capacity training, provision of technical materials
and developing business frameworks. The small business is family’s breadwinners, most of the small businesses
are run by family headed women who lost their husband, it covers the family’s daily income, education, home
rent, utilities and other family’s expenses. The SMEs contributes country’s economy, it is an income opportunity
for the society and creates employment opportunities for the youth, women and the entire society. The Corona
Virus pandemics continue to spread exponentially, I had impacted the entire live cycle and business operations,
the hospitality sector was affected badly, there are number of cancellations of fight, hotel seminars and meetings
that was planned to conduct but the due to bid to prevent the spread of the virus.

According to IMF, World Bank the Somali remittances contributes nearly a third of the country’s GDP, the
remittances plays an important role both country’s economy, the funds received from abroad relatives, covers the
basic needs, foods, shelter and education and so on(PDRC, 2020). In 2016 the remittances estimated to USD $1.4
Billion per year and it is of one of the largest external financial support to Somalia and it is constitutes 23% of
Somalia’s GDP, 40% of the population receives remittances from their relatives and also Somali abroad
communities has a huge investments in the country (Majid, Abdirahman, & Hassan, 2018). Due to the impact of
COVID 19 it is expected that the remittances decline due to the lockdowns; layoff, illness and restriction imposed
by the governments to combat the Corona virus.

In 2017 and 2018 Somalia received US$ 2 billion of Official Development Assistance (ODA), while 2012 - 2016
was received US$1.3 billion a year (MoPIC, 2020). But through the impacts of COVID 19 it is expected that the
interventions of International partners will be declined due to negative impacts of COVID 19, all the interventions
are limited to awareness and surveys related on the impacts on the society but there are no international partner’s
subsidies to businesses.

The global governments are attempting to respond the economic challenges caused lockdowns, still there no
announcement from the Federal government and the state government’s support to the business to stand their legs.
The US Congress passed CARE Act $2 trillion to stable the economic conditions $349 billion was planned to
small business as a loan (Richards, 2020).

General Objectives of the Study

The general objective of the study was to assess the impacts of COVID 19 on the Small and Medium Enterprises
(SMEs).

Specific Research Objectives

1. To point out the influence of COVID 19 on demand and supply of SMEs

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2. To find out the effects of COVID 19 on revenue of SMEs

3. To determine the influence of COVID 19 on jobs and employee salary of SMEs
4. To identify the effects of COVID 19 on the availability of sources of funds for SMEs

Justification of the study

This study focused on the impact of the lockdown impose by countries to contain the spread of COVID 19 and
how the lockdowns effected the SMEs and the challenges that the SMEs encountered during this pandemic disease
spreading person to person. The studies indicated that the COVID 19 had significant impact on the SMEs and
resulted that some of SMEs temporarily or permanently closured their business. Puntland government-imposed
lockdowns, curfew, banning of all movements from outside and other restrictions to fight the spread of COVID
19, these restrictions reduced the mobility of people which resulted decline of supply and demand remained to fall
the revenue.

The SMEs has positive contribution to the country’s economy, it creates employment opportunities for youth, the
small business coves family’s daily income, education, home rent, utilities and other family’s expenses. According
to the researcher’s observations it shows that some of the SMEs already closed their doors due to the impact of
COVID 19 and others was hard to pay the running costs, including the rent, utilities, labor and other sunk costs.

There is a limited study on the impact of COVID 19 on the local enterprises. This study will highlight impacts of
COVID 19 on SMEs and challenges they met during the pandemic.

Finally, the key findings from the study will add value the government’s policies related to SMEs and give them
priority and to sustain their existences.

Methodology
This study’s primary objective is to assess the impact of COVID 19 to SMEs through this the study deployed
quantitative method of research, the data was collected through telephone interview and questionnaire which was
sent through Email for the target SMEs in Garowe. The Telephone interview and questionnaires that was sent
through Email was selected to admire the governments-imposed restrictions to combat the spread of COVID 19.
The questionnaire was divided into demographic information and the questions related on the impacts of
COVID 19 on SMEs. Study was successfully covered 40 participants with valuable information on the SMEs.

Figure 1 Conceptual framework for COVID 19 on SMEs

Dependent Variable (DV) Independent Variable (IV)

• Decrease of
Demand and
supply

• Revenue decline

Temporary &
permanently closure of
The impacts of business operations
• Limited
COVID 19 availability of
sources of funds

• Loss of jobs and

reduction of
employee salary

Study’s findings
The interpretation of the data was divided in to demographics and the analysis of COVID 19 impacts to the SMEs,
The for the demographics the researched used frequency and percentages to report the findings and the impacts
was based on the 5 points Likert scale to report the researched group two groups which was strongly agreed and
agreed was a grouped and reported as percentages. The second group was added strongly disagreed and disagreed
as the second group and reported as percentages.
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Demographic profile
This section combines respondent’s characteristics of gender and age, Work experience, academic qualifications,
Local or abroad received projects, Position in the business

Respondent Characteristics
This section composes all aspect of respondent’s characteristics include gender and age.

Table 1Gender perspective

Gender Frequency Percent

Male 26 65%

Female 14 35%

Total 40 100.0

The above table showed number of males and females involved, the researcher more participants but due to
challenges of COVID 19 only 35 of the target groups was successfully contributed the finding of the study. As the
above table indicates that 69% (25) of the respondents were male and 31% (11) were female. Although the
representative of the study is limited according to the SMEs exits in Garowe and Somalia but it can be a good
estimation the male more than females in SMEs.
Table 2Respondent's age

Table 3age group Frequency Percent

18 - 24 4 10%
25 - 29 5 12.5%
30 - 34
11 27.5%
35 - 39 8 20%
40 and above
12 30%
Total 40 100%
According to the above table, the respondents were divided into five age groups; the majority of respondents were
constituted 33% of respondents were with the age of bracket (40 and above), the second largest age group was
31% of respondents (30 – 34) and third age group was 14% of the respondents (25 – 29), and last two age groups
represented only 11% of the respondents which was (18 – 24 and 35- 39). The majority of the respondents showed
that they had an experience and had been worked more than 40 years which provides huge weight to the study to
share their experiences on SMEs. On the other hand, the data indicated that youth were involved the SMEs, 56%
of the respondents were less than 35 years.
Figure 2Work Experience

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the above pie chart, showed that the majority of the respondents that makes up 42% of the total respondents had
been worked 1 to 5 years, the second group of respondents which constitutes 31% had experience of more than,
the third group which had an experience of 6 to 10 years of experience represented 17% and the last group had
worked less than a year which represented only 11% of the respondents. The majority of the respondent’s
experience to the SMEs was more than 5 years which makes contribute to the study more valuable.

Figure 3Academic Qualification

6 Primary/informal
% education
27
% Secondary

67
% College/University

The above pie chart represented the respondent’s academic qualifications, the most of the respondents were college
or university level, 67% of the total respondents holders bachelor or diploma for their academic qualifications,
27% of the respondents had had secondary qualification, the last group had equivalent to primary education were
6%, this groups is the least group. SMEs is opportunity for youth and graduate students as you can see the above
pie chart was dominated by the university or college graduates who had knowledge to run their business operations.

Figure 4Local and abroad products

Abroa 14%
d

Loca 86
l %

0 20 40 60 80 100
% % % % % %
According to the above the chart most of the SMEs in Garowe that involved in the study received their product as
a local, 86% of the respondents indicated that they use local channel for demands, and only 14% of the interviewed
SMEs showed that they were received products from abroad. Most of the abroad dependents include; the
constriction companies, whole sales and the furniture companies as the interview confirmed.

Figure 5Respondent’s position in the business

100%

53%
50%
16%

0%

COVID 19 Impacts on SMEs

The following are the findings of the study, it was based on the 5-points Likert scale to report the researched group
two groups which was strongly agreed and agreed was a grouped and reported as percentages. The second group
was added strongly disagreed and disagreed as the second group and reported as percentages.

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Figure 6, the impacts of Demand and supply for SMEs

It is difficult to find enough

customers for the goods 83 17
and services % %
SA
You have enough products %
or services for your
62 38% SD
customers
%
%

0% 20% 40% 60% 80% 100% 120%

As showing the above chart the COVID 19 impacted both the supply and demand, majority of the respondents
strongly agreed or agreed that The SMEs had62% enough products or services for customers and 38% of the
respondents strongly disagree or disagree. In 19 March the Ministry of Aviation of Federal suspended domestic
and international flights to limit the outbreak of COVID 19, and also the Puntland government suspended all
inside and outside movement including the domestic travel between cities and districts meanwhile the country
is dependent with export from abroad, Somalia have a good relation with United Arab Emirates (UAE), India,
Yemen, Turkey, Iran, Brazil, China and others those have direct business relation to Somalia. The global
country imposed partial or full lockdowns to prevention and containment measure of COVID 19. As the above
chart shows 83% of respondents strongly agreed or agreed that the SMEs had not enough customers while
only 17% of respondents strongly disagree or disagree that they had enough customers. Both the supply and
demand was affected by the imposed restrictions, the demand shortfalls resulted that the revenue fall down and
many small businesses responded by reducing hours worked for employees or dismissing the employees, others
halted business operations and others permanently closed their business doors due to their inability to make profit
and or cover the business operating expenses.

Figure 7Impacts of revenue for SMEs

Revenue
18
loss I feel that my income is
declining time after time
% during this pandemic
The net profit in my
business is high
21
% compared to before
COVID
outbrea 19
k
My business provides
13 89 enough income for your
% % needs during COVID 19
You can cover business
operation expenses
during COVID 19?

According to the above pie chart showed the effects of revenue during the COVID 19 pandemics as the SMEs who
involved the data collection highlighted that there were revenue declines for some of the SMEs. Most of the
respondents strongly agreed or agreed 89% of SMEs experienced income is declining during the COVID 19
pandemics and 3% of the respondents strongly disagreed or disagreed that their income is declining during this
pandemic. Only 21% of the respondents strongly agreed or agreed that their business provides enough income to
cover their needs while 79% of the respondents strongly disagreed or disagreed that their business provides enough
income to cover their needs. 18% strongly agreed or agreed that their business can cover operating expenses during
this pandemic, where as 82% of the respondents strongly disagreed or disagreed their business can cover operating
expenses during this pandemic. Only 13% of respondents of the respondents strongly agreed or agreed that the net
profit they received is high compared to before COVID 19 outbreak and 87% of the respondents strongly disagreed
or disagreed that the net profit they received was high compared to before outbreak of COVID 19. The pandemic
was seriously affected by non-basic needs including; travelling agencies, hotels, restaurants, cafeterias, shops,
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Khat sellers, road side businesses and others. On the other hand, pharmacies or centers for Personal Protective
Equipment (PPE), ventilators, facemask, sanitizers and the internet providers showed that their net profit increased
during the pandemics.

Figure 8, the effects of jobs and employee salary for SMEs

80%
70%
Employment reduction
60% 75% 75%
50% 75% SA
40% %
30% SD
20% %
10% 25% 25%
0% 25%
You are planning or Employee’s working You are planning or
already laid off your hours reduced in already reduced
employees response to COVID-19. employee’s salary to
respond COVID 19

The above chart indicated the effects of jobs and employee salary during pandemics, 75% of interviewed
respondents strongly agreed or agreed that they are planning or already laid off their employees, where only 25%
of the respondents strongly disagreed or disagreed that they are planning or already laid off their employees. 60%
of the respondents strongly agreed or agreed that they are reducing employee’s working hours to respond COVID
19 whereas only 40% of the respondents strongly disagreed or disagreed that they are reducing employee’s
working hours. 70% of the respondents strongly agreed or agreed they are planning or already reduced the salary
of employees and opposite to the only 30% of the respondents strongly disagreed or disagreed that they are
planning or already reduced employee’s salary to respond COVID 19. Some of the SMEs already halted their
business operations after then the SMEs failed to pay the salary and other business expenses on time this resulted
that SMEs reduced the working hours, the salary and reduce business operations whereas others obliged to
temporally or permanently close off business to avoid loss and huge damages.

Figure 9Availability of sources of funds for SMEs

80% 72%
70% 61 64%
60% %
50% 39
40% 36%
% 28%
30% Series1
20%
Series2
10%
0%
The collection of Cash receipts from Failed to manage
receivable accounts the sales was payables on time
reduced due to COVID declined
19

The above the chart represented SME’s sources of funds as the data showed the SMEs experienced cash flow
limitations. 61% of the respondents strongly agreed or agreed that the collection of receivable accounts was
reduced due to COVID 19 and only 39% of the respondents strongly disagreed or disagreed that the collection
receivable accounts was reduced. Also, the cash receipts from sale was declined as respondents indicated, 72% of
the respondents strongly agreed or agreed that the cash receipts from the sales was declined whereas 28% of the
respondents strongly disagreed or disagreed that cash receipts reclined. The cash declined also affected account
payables as the most of the respondents pointed out that 64% of the respondents strongly agreed or agreed that
SMEs failed to manage the account payable on time. On the other hand, the private banks like Amal, Salaama and
Dahabshiil are considered external investors with compliance of Sharia suspended the investment for SME due to

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COVID 19 as they confirmed with research’s interviews with Amal, Salaama and Dahabshil banks. The temporary
suspended investments to SMEs this can make the situation worse and burden to the SMEs.

Summary of finding
The COVID-19 outbreak has developed rapidly in 2020 and seriously affected the health, economic, social,
business and all the entire cycle of the life, to limited spread of this pandemic the global government should admire
steps to curb the spread of the COVID19, through this the government imposed restrictions to prevent and respond
the spread of infections; include limiting the movement of people, nightly curfews, a ban on public events,
restricting domestic and international flights and other travel within the country, temporarily closing business es
and schools, and cancelling events, sports and gyms, and non-essential items which turn has implications for
SMEs.

This year for 2020 only limited number of people present in the kingdom was allowed to perform Haj and Omra
for this year to curb the spread of COVID 19 (Al-Jazeera, 2020).This will impact the livestock export which
contributed to the Somali economic. The Somali remittances which contributes 23% of country’s GDP and
supports 40% of population, due to the impact of COVID 19 it is expected that the remittances decline due to the
lockdowns; layoff, illness and restriction imposed by the governments to combat the Corona virus(PDRC, 2020).
The 19% increase of exchange rates between the Sh.So and USD is expected to weaken the society’s power
purchasing power parity (Puntlandpost, 2020).

The study found that the supply decreased 38% whereas the demand declined 83% as the respondents of the study
confirmed. The income experienced 89% of fall down and pressured that t60% SMEs reduced the working hours
and 75% of the respondents confirmed that they are planning or already lay off the employees. 61% of the
collection of account receivable reduced 61%, 72% of cash receipts from sales was declined, 64% SMEs failed to
cover the operating expenses this the business financial distress or insolvency which resulted that some of the
SMEs decided temporally whereas others preferred permanently shut down.

Through observation made by the researcher and interview with respondents indicated that some of SMEs
temporarily halted their business operations whereas some others permanently shut down the businesses this
expected to foster the poverty rate and number of extreme poor in communities.

Close to 305 million full time workers lost their jobs for the second quarter of 2020, due to COVID 19 the impacts,
the loss of jobs was severely affected the lower income countries that had weak health system and economic
issues(Ramdoo, 2020). In Pakistan 95% of enterprises met reduction on their operations, 89% of the enterprises
reported financial challenges and 48% of enterprises laid off their employees due to the impacts of COVID 19 on
small and medium enterprises (Ganale; Zafar;, April 2020). In Iraq the COVID 19 had seriously impacted the
SMEs in Iraq, 71% of sales declined in period of 24 March to 21 April, the production declined 52%, and
employment was reduced to 40% with salary reduction of 36%, also the SMEs experienced a huge loss of revenue
(IOM, June 2020).

Conclusion
The SMEs plays an important role in the economy and create jobs, widen income earning opportunities for the
society. The initial outbreak of the Corona virus in China disrupted global supply chains, layoff and dismissed
employed increased. The pandemic negatively impacted the global economy and increased the risk of economic
recession. COVID 19 not only impacted the economy but also negatively impacted the health, education, social,
employment and employment opportunities. Country’s sources of income including the remittances, livestock
export to Saudi Arabia in the Haj and Omra session and the aid from international partners were decreased.
Puntland Budget for 2020 was 346million is expected to decrease due to experienced losses and implication from
COVID containments (MoF, 2020). The prices of goods increased as the supply decreased, it has weakened the
purchasing power party of people in the country. The government’s limited support to SMEs and the suspension
of local bank’ investment for SMEs pressured the business to halt and permanently shut down to the business this
will have impact for both short term and the long term. Although the Strong containment and mitigation measures
reduced, the night bans and nightly curfews removed, the domestic flights reopened but still the implication on
SMEs are on the ground. Finally, the study will recommend a number of recommendations to sustain their
existences and the development of SMEs to continue its contributions to economy and to the community.

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Recommendations
The Government should continue the steps to prevent the spread of COVID and to limit the restrictions to contain
this pandemic. The management of SMEs is recommended they should actively evaluate their cash flow
requirements, reduce the unnecessary costs incurred and develop appropriate plans tackling, to avoid potential
risks for the SMEs. The government and chamber of commerce is recommended to consider the current situation
and implications faced by the SMEs and to reduce the tax and the government should advocate the SMEs to offer
stimulus package to address immediate liquidity challenges, reduce layoffs, and avoid firm closures and
bankruptcies, the this could be reached to work with federal government and to have a meeting with international
partners and the local banks. The local banks is recommended that they should take a lion’s share the current
challenges faced by the SMEs, the banks is recommended to reduce investment with facilitating investment criteria
and to provide opportunities for the SMEs to sustain their existences.

Finally, this study was limited to Garowe SMEs, the researcher is recommending to broadening scope of the study,
to cover large coverage to assess the impact of COVID 19 on Small and Medium Enterprises (SMEs) in Somalia
to reduce the impacts of this pandemic.

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