Coronavirus: How to Run Your Business During the Time of Lockdown in Dubai
Coronavirus is inducing panic waves across the world as it is spreading to all the remote corners. It has impacted all types of routine lifestyles and businesses of people and caused a sudden change in operations. The center of World tourism, Dubai is also affected heavily due to the epidemic. As it contains businesses and populations connected to all around the globe, authorities have taken strong measures to curb the spread of the epidemic. Authorities have announced a two-week lockdown from April 4 to disinfect the whole city to fight the spread of coronavirus. There will be severe restrictions on movement across the city and there will be legal action against the violators.
Effect on the industries Dubai:
Unlike other gulf countries that mostly rely on oil sources for their major percent of revenue, Dubai does not depend on them. Dubai generates a key portion of revenues from non-oil sources as it hosts itself as a global center for tourism, trade, finance and one of the largest real estate hubs in the middle-east region.
Dubai mall which welcomes millions of visitors every year has completely closed its outlets. Within hours of the lockdown declaration, the city’s entertainment and commercial centers like Gold shopping areas were swiftly deserted, with empty corridors and shops barring customers.
This has impacted hundreds of restaurants/hotels and other tourist facilities which in turn has a direct influence on the Dubai economy. All the passenger flights and other normal transport facilities in Dubai have been shut down that were serving as economic backbones. Restaurants, medicines, and other essential groceries have been shut down but are permitted for home deliveries. This has led to a sudden decline in purchases and resulting in a stoppage of cash flow. Organizations across all types of industries are thinking ways to sustain in this unexpected situation of business slow-down. A business owner has the same problem that is How to Run Your Business During the Time of Lockdown.
How to run your business during a lockdown:
The pattern of coronavirus impact on the global population and its effect on various industries is showing that the emergency we are facing is not going to end sooner. It would be having long-term impacts and calls for a change in business planning and employee welfare. There may not be many ways that could be thought of with lockdowns and other safety measures limiting the travel restrictions. But having a good plan on how to keep the business running during this time will make a difference in the competition. Below are a few steps that could be followed to run your business during the time of lockdown:
- Before the plan of all the business strategies, finances and other related activities it is crucial to ensure the safety of company employees and customers. It must be the priority of all types of organizations.
- Many digital businesses have given the provision for the employees to work from home as a solution. It is an effective option with the use of modern technologies to stay connected with the team members. Tools like Google and Zoom serve the purpose and help in smooth meetings and collaborations.
- There must also be measures taken to protect the office and retail space. Sanitizers and disinfectants must be sprayed so that any infections will be curbed.
- After ensuring safety, the next process should be ensuring smooth and steady business operations. This is the most tedious and risky task as the decisions will have an impact on the future. There is a drop in demand for products and services, no shopping centers and there is only room for essential services.
- Organizations must relook their agreements and Insurance that will safeguard them from financial risks. The production should not be concentrated on stocks but sales. Insurance coverage will protect your company’s location, equipment, stocks, and even employees.
- There should also be concentration on controlling the cash flow. It could not be an exact time to make a profit, but you can plan many things to stabilize the weaker aspects of your business that could help you in gaining profit once the lockdown ends.
- This is a crucial part of the lockdown measures for business, which can prove gamechanger in the future. Starting with, companies could offer certain discounts and offers to customers in online shopping.
- There should be a revamp of company expenses. There could be many costs than are fine during normal times but need to be relooked in lockdown situations. But there should not be letting of employees as they are the backbone of any kind of business. Even during the crises, ensure to maintain the employees as much as possible so that you can compensate for the losses once the lockdown period ends.
- One more creative but important thing that will showcase your brand on top of the online market would be posting blogs. Write blogs that provide information regarding your industry or any related issues so that people find your name on top when they search for topics. This could prove vital as people are reliant on online information more than before during this lockdown situation. But associating with a good digital partner is important so that they hit the right areas and grab the attention of customers.
These steps could help in maintaining and sustaining the business during the lockdowns. With all the strict measures taken by governments, situations will get better and businesses will resume. But it is important to stay strong during this time and be prepared for the future.
Companies in Dubai may be upset with no profits and regulation of the cash flow, but using this time to have a strategic approach will surely help to achieve the desired results in the future. For all your digital plans and brand expansion strategies contact Brill Mindz, the best mobile app development company in Dubai for many years. We will help you in taking the right steps that will positively serve your business now and also into the future.