There’s no doubt that Covid-19 is changing and will continue to change the business landscape. There’s uncertainty, there’s fear but there are also some insights drawn from last year’s struggles. As businesses braise themselves for the impact of another lockdown, CEO Al Bayat Real Estate Group, Member of Chamber of Commerce Mohammed Al-Bayat, shares his thoughts on the pandemic’s effect on global businesses.
Mr. Bayat is all praises for small businesses ability to adapt themselves to change. He says, “The more I look, the more I realize that it’s the SMBs, ones which have little to lose, as the ones driving the engine of new business.” He adds, “They are more intimate, more connected and in most cases bear a closer resemblance to their buyers. This “they are one of us” approach has brought waves of change in the outlook and put old perspectives to new moulds, throughout history. Large businesses have much to gain if they can make their high walls more penetrable and bring that human touch back to work during the pandemic.”
For Mr. Bayat, “This is the best time for businesses to show that they care. Last year witnessed mass layoffs and major cost-cutting. As we enter another lockdown, what can your business do to show the valuable lessons learned from last year’s experience? How do you deal with your employees, how do you continue to deliver, how many extra miles will you travel to get things done? Their response to these questions will determine their fate.”
Covid-19 has put brakes on the world’s business, political and economic wheels once again. Are we ready to put our strengths to the test, again?