Khalifa Fund sees local SMEs recovering to pre-Covid levels by mid-2021 – The National

Khalifa Fund sees local SMEs recovering to pre-Covid levels by mid-2021 – The National

Exclusive: There are investment opportunities in SMEs across the healthcare, food processing and agriculture technology sectors in 2020, CEO says

















Mouza Al Nasri, chief executiive of Khalifa Fund. Antonie Robertson/The National. 







The Khalifa Fund for Enterprise Development, an Abu Dhabi government agency that backs small-and-medium enterprises (SMEs), expects businesses to recover to pre-Covid levels by the middle of 2021 as they adapt to changing consumer demand and economies gradually reopen.



New opportunities are emerging to invest in SMEs operating in the healthcare, food processing and agriculture technology sectors that would provide a "good base" to manage through crises, Mouza Al Nasri, acting chief executive of Khalifa Fund, told The National.



"We're now seeing signs of recovery with many businesses going back to operate," Ms Al Nasri said. "However, recovery will take some time, especially [given] that many of these SMEs lost some of their staff and need to recruit, train and market again."



Globally, the Covid-19 pandemic hit small businesses hard as cash flow dried up when movement restrictions to stop its spread kept customers at home. The UAE took swift action by rolling out billions of dirhams