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Small and Medium Enterprises Sustainability Strategies Beyond the Periods of Environmental Shocks: Evidence From a Developing Economy

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Innovation, Entrepreneurship and the Informal Economy in Sub–Saharan Africa

Part of the book series: Sustainable Development Goals Series ((SDGS))

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Abstract

The paper aims to investigate the Small and Medium Enterprises (SMEs) Sustainability Strategies beyond the Periods of Environmental Shocks. We drew insights from SMEs in Africa’s largest economy, Nigeria, to explain how SMEs developed strategies to sustain business operations during the recently witnessed global economic and health shocks that affected the overall business environment. Our study adopted the qualitative research design to demonstrate the disruption of survival, adaptation, and future thinking strategies and their implications for Small and Medium Enterprises in South-Western Nigeria. Interviews were conducted using open-ended questions emailed to forty-three Owners and Owner-managers of SMEs across South-Western states in Nigeria. The study results indicate a negative impact of the economic and health shocks on Small and Medium Enterprises (SMEs) sales, income, and profitability in Nigeria. Considering the sudden nature of the pandemic, operators of SMEs developed various novel coping strategies to minimize the impact and survive during and after the pandemic. However, the study has implications for policymakers toward supporting SMEs’ growth and future adaptation, especially in developing countries like Nigeria.

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Authors and Affiliations

  1. Department of Business Administration, KolaDaisi University, Ibadan, Nigeria

    Babatunde Daniel Agbi

  2. Department of Business Administration, Chrisland University, Abeokuta, Nigeria

    Ayodotun Stephen Ibidunni

  3. International Centre for Policy Research and Industry Linkages (ICePRIL), Shaveh Consulting, Abeokuta, Nigeria

    Ayodotun Stephen Ibidunni

  4. Centre for Economic Policy and Development Research (CEPDeR), Covenant University, Ota, Nigeria

    Ayodotun Stephen Ibidunni

Authors
  1. Babatunde Daniel Agbi
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  2. Ayodotun Stephen Ibidunni
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Correspondence to Ayodotun Stephen Ibidunni .

Editor information

Editors and Affiliations

  1. Department of Business Administration, Chrisland University, Abeokuta, Nigeria

    Ayodotun Stephen Ibidunni

  2. Accounting and Finance Department, Nottingham Trent University, Nottingham, UK

    Oyedele Martins Ogundana

  3. Department of Business Administration, London Metropolitan University, London, UK

    Maxwell Ayodele Olokundun

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Agbi, B.D., Ibidunni, A.S. (2024). Small and Medium Enterprises Sustainability Strategies Beyond the Periods of Environmental Shocks: Evidence From a Developing Economy. In: Ibidunni, A.S., Ogundana, O.M., Olokundun, M.A. (eds) Innovation, Entrepreneurship and the Informal Economy in Sub–Saharan Africa. Sustainable Development Goals Series. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-031-46293-1_3

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  • DOI: https://doi.org/10.1007/978-3-031-46293-1_3

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