Published
June 22, 2021
Category
Expresso Business Solutions News
Impact of COVID-19 on Businesses in UAE
01. Impact of COVID-19 on Businesses in UAE
Expresso in association with Amet Research & Analytics, conducted a COVID-19 impact survey among SMEs in UAE.
The results of the survey will give you a better understanding about the business model changes in wake of this pandemic. Additionally, they’ll help you in restructuring your business operations and strategies post COVID 19, enabling you to optimize your short term and long term targets.
02. 219 companies that participated in the survey
As the COVID 19 in UAE continues to evolve, there has never been a more pressing need for organisations to rethink and reconfigure their businesses for a changed world.
A total of 219 companies took part in the survey where 74% of the respondents are micro and small businesses with less than 50 employees. 57% of the respondents are in C-level and senior management positions.
A total of 219 companies took part in the survey where 74% of the respondents are micro and small businesses with less than 50 employees. 57% of the respondents are in C-level and senior management positions.
03. Technology experienced the least impact to Covid 19 in UAE
The Impact of COVID 19 is seen to be related to the size of the organization – the smaller the organization, the greater the impact. The survey results found that industries in the Technology (13%) and Industrial (17%) have experienced least severe consequences to Covid 19 in UAE.
While some businesses are struggling, some businesses are thriving. This is true for a number of businesses in the Technology sector, such as those related to online entertainment, food delivery, online shopping, online education, and solutions for remote work.
While some businesses are struggling, some businesses are thriving. This is true for a number of businesses in the Technology sector, such as those related to online entertainment, food delivery, online shopping, online education, and solutions for remote work.
04. Businesses should take adequate measure to ensure safety of employees and customers after re-opening
While businesses are concerned with COVID-19’s long-term impact on the company and economy, the majority are still tilted toward a positive outlook, especially where profits and customer demand are concerned.
Results showed that 84% are concerned about the effects of Covid 19 on the economy while 83% say businesses should take adequate measures to ensure safety of the employees and customers after re-opening.
05. Future outlook: digital channels and flexible remote working
Now is the time for organisations to focus their efforts on supporting key areas of their businesses that will help them to stabilise in the new environment and strategies for the future.
53% of the respondents are inclined to strengthen their companies’ digital channels, 46% suggests to operate with less staff, 41% encourages flexible working hours, and 39% recommends remote working options for their employees.
06. Industry and business recovery expected by mid-2021 to 2022
Now is the time for organisations to focus their efforts on supporting key areas of their businesses that will help them to stabilise in the new environment and strategies for the future.
53% of the respondents are inclined to strengthen their companies’ digital channels, 46% suggests to operate with less staff, 41% encourages flexible working hours, and 39% recommends remote working options for their employees.