Facebook: Saudi small businesses upbeat about future as online sales rise

Facebook: Saudi small businesses upbeat about future as online sales rise

JEDDAH: Saudi small businesses have persevered through the economic challenges posed by the coronavirus pandemic, with owners reporting that an increasing amount of their sales have moved online.In a collaborative effort between Facebook, the World Bank and the Organization for Economic Co-operation and Development (OECD), a survey was conducted to determine how the pandemic has affected small businesses in the months up to October 2020."We saw this shift represented by a significant number of SMBs (small and medium businesses) in our region, which reported an increase of 25 percent or more in digital sales,“ said Ramez Shehadi, Facebook MENA's managing director."Though the path to recovery remains unseen, what is for certain is that small businesses have shown a sense of resilience and a propensity to think outside of the box in finding new ways to reach customers.“With 200 million businesses utilizing Facebook services to promote their goods and services and build up an online community, social media has proven even more essential to SMBs during the crisis.SPEEDREAD“¢ With 200 million businesses utilizing Facebook services to promote their goods and services and build up an online community, social media has proven even more essential to SMBs during the crisis.“¢ The survey