EFFECT OF STRATEGIC ALLIANCE AND PARTNERSHIP ON THE SURVIVAL OF MSMEs POST COVID-19 PANDEMIC

Abstract

Research background: This study was conducted as a result of the challenges that confront MSMEs globally, especially in Nigeria, due to the lockdown occasioned by COVID-19. A descriptive research design (quantitative analysis) was adopted, while primary data were employed for the study. Purpose of the article: The population for the study was 587 MSMEs from the Ojo local government area of Lagos State, Nigeria, with a sample size of 234 derived using the Taro Yamane (1967) techniques. A total of 240 questionnaires were distributed, allowing room for errors, and 228 of them were returned usable for the study, constituting a 95% response rate for the study. Methods: Content validity was adopted. A reliability test was conducted using Cronbach’s Alpha, which returned a value of 0.869, indicating internal consistency of the research instrument. Descriptive statistics (means and simple percentages) were used to analyse the data, alongside regression and Pearson’s correlation coefficients. The findings revealed that a strategic alliance and partnership could positively affect MSMES survival post-COVID-19 in Nigeria, with a p-value of 0.000<0.05, and that its impact on the performance of MSMEs in the Nigerian economy post-Covid-19 was statistically significant and positive, with a correlation coefficient of 0.824 (82.4%) and a p-value of 0.000<0.05. Findings & Value added: The results and findings suggest that a strategic alliance and partnership is indeed a veritable tool for MSMEs’ survival post-COVID-19 in Nigeria.