Startup Panorama Edition 9.0: A Guide To Legalities For Startups In Dubai Amid COVID-19
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Around the world, startups and small and medium enterprises (SMEs) have been among the hardest hit by the impact of the novel coronavirus (COVID-19) pandemic.
Business models reliant on the physical presence of consumers have been severely impacted by lockdowns as part of preventive measures taken by governments to contain the outbreak, while others have been challenged by the economic slowdown as they exhaust their cash and stare at an uncertain future.
Yet, the entrepreneurial ecosystem is also what the world relies on to thrive and is a key contributor to both the global and local economy. SMEs represent more than 94 percent of the total number of companies operating in the UAE and employ over 86 percent of the private sector workforce.
As the UAE government continues to introduce support and relief measures to impacted businesses, Startup Panorama Edition 9.0 features practical advice from legal experts on how founders can navigate their existing contractual obligations in the short term and beyond COVID-19 times.
From how to manage short-term liabilities, implement cost-cutting measures, reduce risks and rethink operating models, to dealing with cash flow disruptions, the pressures of reduced demand, and preparing well for the post-coronavirus phase– read on for some proactive responses to timeless business challenges. Our infographic also rounds-up some of the relief and support measures government and semi-government entities, banks and the private sector have been introducing to help entrepreneurs ride through challenging scenarios.
To download a copy of this report, click here.
This article was originally published on Dubai Startup Hub and has been reposted on Entrepreneur Middle East based on a mutual agreement between the websites.