It’s one 12 months on because the pandemic, and small and medium-sized enterprise (SME) homeowners within the Gulf area face a remodeled financial panorama.
In these unsure instances, firm homeowners are turning to expertise to maintain their corporations afloat and resilient.
SMEs make up greater than 98% of corporations within the United Arab Emirates (UAE) and contribute greater than 52% to GDP, in line with authorities knowledge. In Saudi Arabia, SMEs comprise 99% of companies, offering 64% of whole employment within the nation.
Smaller companies throughout the board have been hit onerous by the pandemic, in comparison with bigger corporations which have been higher financially and strategically insulated in opposition to the disaster, stated specialists.
“Small companies that weren’t digitally prepared have been closely affected and lots of went out of enterprise,” stated Alaa Khattab, director of consulting and expertise companies at Abu Dhabi-based software program consultancy Expertise Methods Center East (TSME).
Khattab has witnessed a surge in demand from SMEs trying to harness digital applied sciences to allow company-wide resilience.
“Native SMEs are starting to develop overarching digitisation methods in various levels. Furthermore, they’ve realised that in-built digital resilience is crucial, and modernising processes and operations to extend