Helping Small Businesses On The Road To Recovery From The Coronavirus Pandemic – Entrepreneur

Helping Small Businesses On The Road To Recovery From The Coronavirus Pandemic – Entrepreneur

The entrepreneurial spirit and innovative thinking that startups and small businesses bring to the table will help create new industries and transform existing ones to thrive in the post-pandemic world.





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June

29, 2020



5 min read











Opinions expressed by Entrepreneur contributors are their own.







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"The world won't bounce back until small businesses bounce back,“ said Mary Kay Bowman, Global Head of Buyer and Seller Solutions, Visa Inc.

Small and medium enterprises (SMEs) are key to the health and well-being of economies around the world. According to the International Labour Organization (ILO) 'small economic units' account for 70% of total employment, making them by far the most important drivers of employment worldwide.

In the UAE, SMEs makeup more than 94% of the nation's total number of companies and employ over 86% of the private sector workforce. In addition, these companies play an essential role in the lives of their customers and in the success and vibrancy of their local communities.

And while COVID-19 has had