International sales and global suppliers key to ensure post pandemic business recovery and growth

International sales and global suppliers key to ensure post pandemic business recovery and growth

- Two-thirds (66%) saw growth in online sales and 42% are doing more business overseas.

- Almost two thirds (64%) say the changing landscape has allowed them to source suppliers more competitively across borders.

- With this heightened focus on international sales and global suppliers, half (53%) are now making and receiving more cross-border payments than they were prior to the pandemic.

Dubai, UAE – Data from Mastercard’s 2022 Borderless Payments Report has revealed two in five (44%) small and medium sized businesses (SMEs) in the UAE are earning more money than before the pandemic. Online business and international sales are key drivers, with two-thirds (66%) recording growth in online sales, while three-quarters (77%) are planning to do more business internationally going forward.

The research, which covered over 3,000 small businesses from around the world, highlighted that 77% of UAE SMEs had to make changes to their business model to survive the pandemic, whilst 64% believe it has changed how they will do business forever. The pandemic has accelerated digital transformation to tap into cross-border opportunities, with four in ten (42%) UAE SMEs now doing more business internationally.

Almost two thirds (64%) of respondents credit cross-border payments with enabling their business to grow, making it