British Business Group in the UAE launches new website to support companies

According to a survey conducted by the British Business Group (BBG) in Abu Dhabi, Dubai and the Northern Emirates against the backdrop of the Covid-19 virus, nearly 65 per cent of their members said that they needed more clarity on the UAE government schemes available to them, with only 5 per cent having utilised them to date.

To facilitate information on the relief measures from credible resources, the group has launched a new online portal britishbusiness.org/covid-19/ which it says “includes valuable offers of help from the group’s members providing substantial advice on legal, business continuity issues and direct contacts within banks.”

It added that the website also provides members with a forum where ideas and questions can be shared, along with resources covering a range of specialist subjects that range from communications to dealing with health-related issues.

The survey also revealed that members of the group have actively sought specific support and emphasised the role of the BBG in feeding those concerns to government officials on behalf of the business community.

“This is a wonderful reflection on the generosity of our business community in the UAE in uniting to support one another and British business interests across the Emirates,” said Nick Cochrane-Dyet, chair of the BBG, Abu Dhabi.

The survey which was conducted with support from both the UAE and UK government further found that nearly 62 per cent of its respondents cited finance and cash flow as their biggest concern, with 54 per cent forecasting significant declines in revenues, and a third predicting revenues to fall more than 50 per cent this year.

The survey stated companies are quickly adapting to working remotely, with technology being used to ensure business continuity and workforce management.

Reportedly, 75 per cent of companies said that they will now regularise the use of web technology for internal and external meetings.

Also, 51 per cent of the companies will be digitalising more of their products and services as a direct result of the business disruption caused by Covid-19.

“The UAE is one of Britain’s most important trading partners and actively engages with over 5,000 British businesses. Bilateral trade between the UAE and the UK stands at almost GBP17bn in goods and services. The UAE is home to more than 100,000 British expats and the destination for 1.5 million British visitors each year. Our continued goal is to build and support this valuable relationship with our trusted and valued hosts in the UAE,” said John Martin St. Valery, chair of the BBG in Dubai and the Northern Emirates.

Read: Five minutes with… John Martin St. Valery, chairman, British Business Group in Dubai

In March, Dubai unveiled a stimulus package worth Dhs1.5bn to support businesses in the emirate.

Read also: Coronavirus: Dubai reveals Dhs1.5bn stimulus package to support businesses

Separately, the UAE government also announced a $34bn economic stimulus package to help businesses combat the impact of the Covid-19 outbreak.