How to protect your business during recession

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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

Plutus Team