The Coronavirus (COVID-19) pandemic has introduced an entirely new mix of challenges and opportunities to entrepreneurs and small businesses in the UAE. In light of growing concerns in the local SME sector, Badiri Education and Development Academy – the education and capacity building arm of NAMA Women Advancement Establishment (NAMA) – organised a virtual talk yesterday (Wednesday, May 27) to share key insights into ways they can build resilience, and enhance their capabilities and skills to quickly adapt to new and emerging business practices.

During the 90-minute e-session titled ‘The Future of Entrepreneurship Post COVID-19’, Which Badiri Academy held in collaboration with the U.S. Consulate General in Dubai, Greta Schettler, CEO, and founder of Equal Up Strategies, shared valuable pointers on how entrepreneurs can survive the current exceptional circumstances and how aspirants can start their businesses with limited resources and support.

She said: “The power of an entrepreneur lies in his/her ability to see a challenge and recognise an opportunity, and what differentiates them from others is their conviction and fearlessness to put thought into action.”

Citing examples innovative ideas, both big and small, which have disrupted established methodologies, industries or streams, she urged businesswomen to use their “knowledge, willingness and creativity to challenge the status quo and find innovative solutions to problems to build back better.”

The speaker also outlined key steps for implementing ideas and perceptions to action in a post-COVID-19 world.

Greta Schettler, also the senior program officer for Gender Equality Policy, Advocacy and Communications at the Bill and Melinda Gates Foundation, further highlighted how women entrepreneurs can offer a unique perspective and define the future of entrepreneurship in the post-COVID world. She said: “The economic impact of sourcing from women entrepreneurs cannot be overstated. Economic growth is vital to reduce poverty and improve quality of life, and according to the World Economic Forum, there is a direct correlation between a nation’s gender equity and economic competitiveness.”

Also highlighting the growing purchasing power of women, she further added: “Globally, women control 20 trillion dollars in consumer spending and make 85 percent of purchasing decisions – so startups and entrepreneurs need to think through how women experience new products and services when devising their marketing strategies.”

Thanking participants for their support and active participation in Badiri’s virtual hub for collaborative learning, Dr. Mona Al Ali, Manager of Badiri Education and Development Academy, said: “Badiri has always remained committed to supporting learning and knowledge exchange. This was the fifth session we organised under our recently launched virtual hub, the ‘Badiri Knowledge Exchange’, which aims to inspire and empower community stakeholders, maximise their personal and professional potential, and foster solidarity, as the world shifts to new ways of learning in the wake of COVID-19.

“The pandemic has compelled small, medium, and large firms to completely rethink their offerings or transform at record-breaking speed and to find gaps to fill and opportunities to explore. We hope our participants benefited from MsSchettler’s valuable inputs, and thank the US Consulate General for their partnership and support in making this session a success,” she added.

Attendees also gained greater understanding of the new and emerging trends in the current business environment and learnt how businesses can transition successfully to operate during and post-COVID-19.

A recorded version of the e-session will be uploaded online on www.badiriacademy.org.