Title: Business Stress and Survival of Small and Medium Enterprises (SME's) in Rivers State
Authors: Tuuma, Promise Lebari, Prof. B.Chima Onuoha
Volume: 8
Issue: 10
Pages: 49-61
Publication Date: 2024/10/28
Abstract:
The study examined the relationship between business stress and the survival of small and medium enterprises (SME's) in Rivers State. The study adopted a cross-sectional research design. The population of the study was 165 respondents from 55 small and medium enterprises (SME's) in Rivers State. Data were collected through a questionnaire. The retrieved data were analyzed using Spearman's rank-order correlation coefficients. The finding demonstrates a moderate relationship between business stress and the survival of small and medium enterprises (SME's) in Rivers State. Therefore, the study concludes that business stress relates to the survival of small and medium enterprises (SME's) in Rivers State. Hence, the study recommended that SMEs in Rivers State should consider implementing strategies to manage workload effectively to prevent it from becoming a barrier to innovation and adaptability. SMEs in Rivers State should provide training and development programs focused on adaptability, promoting a flexible work environment, and encouraging employees to take on new challenges and responsibilities. SMEs in Rivers State should create a work environment that remains at a manageable level to prevent negative impacts on employee well-being and creativity. SMEs in Rivers State should provide tools and resources for time management, promote a supportive and flexible work culture, and encourage open communication to address challenges related to time pressure.