The majority of Small and Medium Businesses (SMBs) in the MENA region are optimistic about their business activities post COVID-19, a recent study showed.
The Global State of Small Business survey, published by Facebook in partnership with the World Bank and the Organisation for Economic Co-operation and Development (OECD), showed that 61 percent of SMBs in the UAE feel optimistic about the future of their business, compared to 59 percent in Saudi Arabia and 52 percent in Egypt.
The report is based on data from surveying more than 30,000 small businesses across more than 50 countries.
Fifty percent of SMBs in the UAE have reduced the number of employees/workers as a result of the COVID-19 pandemic, compared to 35 percent in Saudi Arabia and 51 percent in Egypt, the report showed.
Other stats from the survey revealed that 81 percent of SMBs in the UAE reported that their sales are lower this year than last year, 64 percent in Saudi Arabia and 73 percent in Egypt.
In the UAE, 40 percent of respondents reported that 25 percent or more of their sales were made digitally in the past month, compared to 29 percent of respondents in Saudi Arabia and 35 percent of respondents in Egypt.
(Writing by Gerard Aoun; editing by Seban Scaria)
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