THE ECONOMIC IMPACT OF COVID 19 PANDEMIC ON THE SMALL-SCALE BUSINESSES IN MOGADISHU, SOMALIA
Abstract
This paper focused on the economic impact of the COVID-19 pandemic on the small-scale businesses in Mogadishu, Somalia. The paper further provided more updates and a comprehensive understanding on the recent pandemic trends and how it adversely affected the small-scale businesses in Mogadishu. 50 small-scale businesses participated in the study and the result has showed that the pandemic had negatively impacted the performance of small-scale businesses. The study further showed that pandemic caused businesses to delay payments on liabilities, disrupted its supply, sales debt had increased, effected employees’ retentions, and expediated cash collections. Despite the serious coronavirus effect, most of the businesses were able to maintain their employees although some of them planned to laid-off employees due to low liquidity of the businesses but, the good thing was that businesses created proactive measures to cope with similar future shocks and built resilience.
Keywords: COVID-19 pandemic, business performance, small-scale businesses, employment, government role.
CITATION: Samatar, E. H. (2021). The economic impact of Covid 19 pandemic on the small-scale businesses in Mogadishu, Somalia. The Strategic Journal of Business & Change Management, 8 (3), 849 – 848.
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DOI: http://dx.doi.org/10.61426/sjbcm.v8i3.2055
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