Survival during Times of Disruptions: Rethinking Strategies for Enabling Business Viability in the Developing Economy

Ayodotun Ibidunni, Adebanji William Adejuwon Ayeni, Oyedele Martins Ogundana, Bisayo Otokiti and Lerato Mohalajeng
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Adebanji William Adejuwon Ayeni: Department of Business Administration, Landmark University, Omu-Aran 251103, Nigeria
Oyedele Martins Ogundana: Accounting and Finance Department, Nottingham Trent University, Nottingham NG1 4FQ, UK
Bisayo Otokiti: Department of Business and Entrepreneurship, Kwara State University, Malete 241103, Nigeria
Lerato Mohalajeng: Department of Business Management, North-West University, Potchefstroom 2531, South Africa

Sustainability, 2022, vol. 14, issue 20, 1-14

Abstract: There exists a noticeable void in the literature about strategies that business operators, especially those in highly vulnerable economies, can adapt to sustain their survival and to achieve growth in economically turbulent times. This study investigated strategies that can support the viability and survival of businesses in times of environmental disruptions. The study adopted a qualitative research design that involved the interview of 31 business owners across different sectoral groups including fashion and telecommunication that are operating in Nigeria’s Small and Medium Enterprises (SMEs) sector. The interview sessions were audio recorded, transcribed verbatim and thematically analysed. The findings reveal that amid disruptions, the business owners were resilient and established diverse digital strategies that helped them to keep their businesses afloat throughout the time of disruption. This finding contributes to the field of entrepreneurship as it offers practical strategies for supporting business owners during times of disruptions, especially in a developing country context.

Keywords: environmental disruptions; small business survival; business environment; epidemics/pandemics; developing economies (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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