A file photo of Qatar skyline
Doha: As global markets are battling against the economic impact of COVID-19, a number of small and medium-sized enterprises (SMEs) and startup companies in Qatar are also planning their countermeasures to limit the impact of the global pandemic to their businesses.
Several entrepreneurs in Doha also see a glimmer of hope as they plan to turn the current situation into new business opportunities in the Qatari market. For Ahmad Baddoura, CEO of Saloony Trading, a new application startup in Qatar, who is also a partner in several restaurant businesses in Doha, nothing can hold him back, not even the coronavirus pandemic, from launching his new app in Qatar soon.
“We are fortunate to be in Qatar during this pandemic, as the Amir H H Sheikh Tamim bin Hamad Al Thani has pledged QR75bn in support to the private sector. We are proud of the government’s action plan to tackle COVID-19. However, we all must participate to save the SMEs. I do not wish to sugarcoat the situation, as it will not do justice to the challenges ahead. The reality is everyone is going on a survival mode. But the things that can be done at this time are endless. You must prepare and be ready for the turnaround, which is an improved economy. Crunch your numbers and think outside the box, this is what SMEs do. I am currently launching an application within the next two to three months. Investors are welcome to join, and we are not looking back,” Baddoura told The Peninsula.
Ahmed Hassan, Founder and CEO of New Waves, a leading web development and digital marketing company in Qatar, sees new business opportunities ahead. Demand for digital services in the country is expected to grow significantly, as more companies implement the ‘work from home’ policy and businesses encourage their customers to transact digitally.
“We hope to succeed in helping companies transform their businesses online in a short period in order to enable them to reach their customers online efficiently. Qatar has the technology infrastructure and the expertise to enable all SMEs, stores, restaurants, and all businesses in the country to transform their businesses, products, and services online. We at New Waves, intend very soon to offer solution packages at reduced reasonable prices to enable SMEs in Qatar to fully switch to online and communicate with customers online or remotely,” added Hassan.
Speaking about the challenges currently faced by the restaurants industry, Baddoura, who also has an extensive background in Qatar’s F&B sector, said: “Several restaurants have dropped more than 60 percent in sales, while food delivery companies have dropped by around 40 percent. A smart and successful entrepreneur resorts lastly to reducing costs of his staff salaries. Entrepreneurs are solid and become more resilient in tough times. Use your networks, do not abuse them”.
According to Talabat CEO Tomaso Rodriguez, the food and groceries delivery platform is liaising with governments and partner restaurants to ensure that precautionary health and safety measures are followed. As part of the government’s support to the private sector, the Qatar Development Bank (QDB) has also postponed the installments of all borrowers for a period of six months.
QDB’s Executive Director of Finance Khalid Abdulla Al Mana said: “We at QDB are ready to support the private sector during this situation. And we have been given the support and the direction from the Amir H H Sheikh Tamim bin Hamad Al Thani to provide the private sector and especially the SMEs with the support they need in order to overcome the situation”.
