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Chamber firms show concern over Covid-19 impact

Khaleej Times 2020-05-22 04:17:45

The Dubai Chamber surveyed 1228 out of 245,000 companies in Dubai in April this year when the lockdown measures were in the most strict phase. 331 of these companies expressed fears over the potential economic toll due to the consequences to their businesses of Covid-19, according to a spokesman for the Dubai Chamber of Commerce.

"The survey participants were mainly small businesses that had fewer than 20 employees who's operations have been affected by the global pandemic, and their sentiments were based on the expectation that the strictest curbed phase would be prolonged," the chamber spokesman has clarified that.

Businesses around the world have been negatively affected and small businesses, in particular, are facing extreme challenges in this uncertain global economic climate. In response to the need to support its SME businesses, the Government of Dubai has launched a stimulus package of Dh1.5 billion aimed at reducing the impact that the pandemic has had on them.

"The government will continue to monitor and offer support where necessary to help all of Dubai's business community during this time. Similar results have been observed in business sentiments in across the world. We anticipate that business confidence will improve significantly in the coming weeks and months as businesses return to more normal operation," the spokesman said.