How to protect your business during recession

This post will not be referred to new businesses but to existing ones.

Due to the large volume of requests we are receiving from existing clients, we decided to dedicate a post to this matter.

If your business is being directly affected from the COVID-19 lockdown, here is what you can do with your UAE license:

  • Minimize your expenses. Take a look at all your expenses and check how you can cut them to the proximity of zero.
  • Convert your business in remote work or transfer all your activities online if possible. This is easily applicable if your business is related to e-commerce or services.
  • Do not take important decisions in this period of panic and fear.
  • If you plan to reduce your workforce, you can by all means do it, but try to guarantee your staff a minimal salary for surviving this crisis as well as they might not have much alternatives.
  • If you want to change your activities, license amendments have a lower cost now. You can add or replace your activity with a more adequate for this period (e-commerce, consulting, online services etc.)

For a more specific and tailored consultation, do not hesitate to contact us

Best,
Plutus Team