My involvement in entrepreneurial businesses in the UAE has been in the consumer-facing sector, in industries like leisure, F&B and fitness. As everyone knows, ever since the coronavirus pandemic hit us, most of these businesses have gone from making money to generating almost zero revenue, across the board, in a matter of weeks.It is one thing to deal with challenging business environments, but it’s a totally different discussion to have when you are no longer able to operate your enterprise at all. As such, these are some of the key thoughts and decisions that have been on my mind with respect to my entrepreneurial ventures:1. CASH As soon as you are in a zero-revenue situation, then it is all about looking at how much cash you have in the bank, and thinking about how long you can last with it. If you take the decision not to fold your business, then you have to develop several scenarios of how long the shut-down will be for, and what the ramp up will look like afterwards. In...
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