Abstract
The effect of COVID-19 crisis on economy is due to public health measures to flatten the epi-curve. Even though, the crisis affects all economic sectors, the economic fallout from COVID-19 pandemics is particularly is acute in specific sectors such as SMEs. Studies indicate that SMEs may experience supply chain distortions due to irregular supply of raw materials and intermediate goods, revenue loss and shortage of liquidity to continue business operations. And also enterprises experienced a reduction in production / work activity/ contracts due to corona virus outbreak. DOI: 10.7176/RHSS/10-11-01 Publication date: June 30th 2020
Highlights
After the first infections in china at the end of 2019, the corona virus disease (COVID -19) has continued to spread across the world. It is declared as a pandemic by the World Health Organization (WHO) on May, 2020, COVID19 has become a global emergency, given its impact on the entire world population and the economy
Different literature evidences revealed that the COVID-19 had a significant impact on the financial system that directly affects the overall economy of the nation
The Economic Commission for Africa stated that” Firms and businesses in African cities are highly vulnerable to COVID-19 related effects, especially SMEs, which account for 80% of employment in Africa”
Summary
After the first infections in china at the end of 2019, the corona virus disease (COVID -19) has continued to spread across the world. It is declared as a pandemic by the World Health Organization (WHO) on May, 2020, COVID19 has become a global emergency, given its impact on the entire world population and the economy. The crisis has already transformed into an economic and labor market shock, impacting all businesses regardless of their size During this difficult time, it is important that jobs are preserved, enterprises remain sustainable, workers and their families affected are protected, in particular the most vulnerable, and those in the informal economy. OBJECTIVES OF THE STUDY The general objective of this study is to assess the effect of Covid-19 in SMEs of Ethiopia, in Nekemte Town
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