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5 POSITIVE FACTS YOUR BUSINESS WOULD HAVE EXPERIENCED DURING THE CRISIS

The COVID-19 pandemic has been spreading rapidly, with new updates flying in from different parts of the world. As the situation evolves, many small business owners are ambiguous about what steps to take to mitigate risk, protect employees, and support customers. Every business has its strengths and weaknesses. The key to success is working with what you have and minimizing your weaknesses for improved output. While the Covid situation has been tricky for most businesses, there are some positive facts that it has resulted in.

Establishing a remote work option

For the first time, you can have the flexibility and control of a traditional work situation without any negatives. A remote job or freelance position due to Covid allows you to structure your day and work as you see fit. With the freedom to choose where you work and how you want to work, you have the time and the flexibility to take your career to greater heights.

Reduced meetings and travel time

The work from home concept is a significant attempt to keep exposure to the virus to a minimum. Meetings are held virtually, and any conferences or other planned business travel have been skipped. One significant positive fact during this covid is that there is significantly less or no time spent in meeting or travelling. Which is a genuine time saver as there are no unnecessary meetings held.

Given employees flexibility

For a considerable period many offices across the country were closed, as were stores, businesses, and commercial centers. While the situation in UAE has been consistently improving with maximum number of people getting vaccinated; many employees still prefer working from home or reporting in office some days a week. This has resulted in more flexibility not only in office timings, but the time spent with their family leading to more bonding.

More transparent communication with your customers

Everyone is going through this crisis together, so everyone has been crystal clear about what their business is going through. Customers can commiserate with brands facing a crisis as long as you communicate with them accurately.
As per Harvard Business Review, “When customers are parted from the work that’s being done in the background to serve them, they escalate the service less, and then they value the service less.” Define and explain the steps you are catching to alleviate the risks. Give them some insights into the steps you’re taking to help the community.

Allowed business to rework their business model 

Another positive change that happened during this crisis was that most businesses were forced to relook at their business models. For those who had presence only through a retail store, moving online was critical. Many businesses today have developed hybrid business models to enable them to reach out to customers. One therefore sees a boom in ecommerce and mobile apps. Even though most malls and retail outlets in UAE have opened their doors, people are still finding it more convenient to shop online.

Plan for the long term

Who knows how far this virus will spread? We are in a global economy, and these types of viruses can spread quickly. Do not forget to speak with your suppliers, investors, partners, and local officials to learn how to help you stay above the red while the officials work on containment.

As per SmallBizTrends, ” Around 27% of businesses assume the virus to have a moderate to high impact on their revenue. And, according to other 30%, the virus will have a moderate to high impact on their supply chain.”

Conclusion

The pandemic situation has affected businesses big and small. Several businesses have reworked their business models and others have come up with out-of-the-box ideas. Yet others have gone ahead with strategic collaborations. Joining forces with other companies may be helpful when your business is facing a crisis. For instance, if you have a real estate company, you can team up with other startups that provide service apartments for customers. This can be a guaranteed way to generate business.

Need business consulting services in the UAE? Don/t forget to speak to us!

Whether it is a startup, or an ongoing business in the UAE, if you are looking for business consulting services, you should connect with a business consultant. Make your business pandemic-proof else you may find it challenging to sustain. 

We at Centurion Consulting LLC come with over nine years of experience in the UAE nd the region. We work as business setup consultants in the UAE and provide end-to-end business consulting services. Our team of expert offers a range of services including advice and support to incorporate your company, regulatory compliances, market entry strategy, company structure, market research, business plans, and more.  Schedule a 45 min free online or offline call with our experts right away.

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