Effect of Joint Resource Utilization on SME Performance in the Era of COVID-19 Pandemic in Kano State, Nigeria

Abstract

The objective of the study was to assess the role of Joint Utilization of Resources as a bootstrapping strategy on the performance of  Small and medium-scale enterprises (SMEs) during Covid 19 pandemic in Kano State. In achieving the said objective primary method of data collection using a questionnaire was employed with four Likert’s rating scales. 362 Respondents were selected as a sample size from the study population using a simple random sampling technique.  The study employed the Pearson Correlation Coefficient and Multiple Regressions as a statistical tool to test the relationship between Joint Utilisation of Resources and SME performance. The study findings showed that both Joint Utilisation of Assets / Equipment, Joint Utilisation of Office Space, and Employing Temporary Staff do not influence SMEs' performance during the COVID –19 pandemic in the study area. However, Sharing Employees with other organizations and lease / Hire Purchases were found to be positive and significant factors in influencing SME performance in the study area. The study recommended that under distressed conditions such as recession, pandemic, and epidemic SMEs should engage in sharing their employees with others to save cost, maintain liquidity, and at the same time engage in lease and Hire purchases to foster performance.