When Iman Suguitan saw a potential threat to her marketing job during the 2008-09 financial crisis she set about planning her own business.
A decade on from that recession the Filipina entrepreneur has “hibernated” her now successful premium hotel supplies firm, Ahsant, amid the economic fallout of the Covid-19 pandemic on the hospitality industry.
I'm rechannelling everything I have learnt as an entrepreneur so that I . take advantage of the needs of the market right now.
Far from despairing, however, Ms Suguitan identified a fresh opportunity and started another venture. Not only does the new company Nuqt Idea House – which goes live next week – retain her Dubai International City staff, it harvests lessons from the previous global downturn that could assist other SMEs launching against the pandemic backdrop.
“I’m like a crisis survivor," says Ms Suguitan, who is also a first-time mum of eight months.
Hana Barakat, interim director of startAD – an Abu Dhabi-based global accelerator working with seed stage tech start-ups – says Covid-19 has had a mixed effect on the region’s start-up ecosystem.
She cites a recent study from Wamda and Arabnet that found about 70 per cent of Mena start-ups experienced negative effects from the crisis, including to revenue, funding rounds and pressured cash reserves.
But potential exists for entrepreneurs embracing the market with 18 per cent of those polled saying they experienced a positive impact, notably in e-commerce and healthtech spaces, says Ms Barakat.
“There are great opportunities to start and grow your start-up that directly responds to current market needs in the context of the global economic decline,” she adds.
Ms Suguitan has a history of setting up a business in the middle of a financial downturn. She was the marketing head for premium make-up and kids attire with a local holding company when the 2008-09 global financial crisis hit.
“Every week people would get sacked and you were in the guillotine just waiting,” recalls Ms Suguitan, 41.
Having already taken entrepreneurship classes, she persuaded bosses she could fulfil her duties part-time, thereby reducing her redundancy value while retaining some salary.
With time and cash to market research, source, design and evolve product ranges, she launched Ahsant – an Arabic word meaning ‘job well done’ – and resigned from her full-time role six months later, in 2010. She secured Emaar as her first client and business snowballed to include the Four Seasons, the Address hotel properties, Dubai Opera and others.
Ms Suguitan was confident Dubai's hotel industry would rebound but, while crimping costs, would look to smaller companies with lower overheads and prices.
“I started alone, doing sales, marketing, creating my website, accounting, everything from my apartment, but people need to know when they create a start-up … don’t look too small," she says.
“If you’re a new brand you want to be memorable, stand out, look professional; all your collateral should be there and nicely branded. You only get one chance for a first impression, so make that impression really good.”
This solo structure, fuelled by savings plus loans from friends, enabled her to operate lean and grow organically, without long-term debt.
However, with Covid-19-driven movement restrictions all but closing the hospitality industry for three months, Ms Suguitan has had “no choice" but to pause Ahsant's operations and find a way to sustain her employees.
That's why she pivoted their skills for a new “idea-to-market” agency – Nuqt Idea House.
“When the lockdown started, we started working full-time on the collaterals so we are ready to launch on June 28,” she says.
“I’ve the same designers, logistics and administrative people … and everything I;ve learnt as an entrepreneur I’m rechannelling so I still make use of those resources and take advantage of the needs of the market right now.”
Nuqt – Arabic for dots – is aiming to give direction, help companies “through the pain points … to connect dots", says Ms Suguitan.
“Nobody is prepared for a crisis like this, but I’ve been there; I’m sure somebody out there is in the same shoes I was. It took me years to learn certain things, but if I can pass on those learnings and at the same time keep my staff … that idea really excites me.”
Preservation was also on the mind of Annabel Demana when government directives temporarily closed malls – curtailing her retail buying job for a discount stores brand.
”The company had to stop buying activities as their inventories were not selling as fast as before,” says the former accountant.
“It adversely affected my income, it didn’t seem like the situation would be better in the coming months and getting a job somewhere else would also not be possible.”
With time on her hands and Palm Jumeirah rent to pay, Ms Demana, 26, called on experiences starting a business as a student in her native Philippines and founded an e-commerce venture, inspired by the crisis impacting her income.
Discovering that everyday items such as keys, credit cards and earphones host numerous bacteria, Ms Demana sourced a device that uses UV-C light – as hospitals and laboratories do for sterilisation – to sanitise domestic items, including mobiles.
She set-up UVLicht Sanitizer in early May to market a system already popular in the US.
“I tried to find a product that is timely and functional,” she says.
“With the blessing of my current company, I got an NOC and registered the business. Two months later, the product will be in SharafDG, Sprii and many other retail stores, online and offline.”
Launching was not without challenges, of course, not least importing from China during a near global lockdown and facing “insanely expensive” shipping fees beside extended delivery times.
“We had to look for a shipping company that would not charge as much so it wouldn’t hike our product costs and lead to us not having any margin,” says Ms Demana.
Backed by savings and financial help from family and friends, she also made use of local initiatives to ease set-up costs that “could seem too much of a risk especially for start-ups” during current uncertainty.
"Government agencies tried to help small businesses during this period," she says. "There was a more lenient payment structure offered, like monthly instalments, certain fees waived, and online company registration made possible.”
As well as selling directly online, Ms Demana has strategised to sell through big retail names that “can market the product better with their experience and customer base” as life begins to normalise and she prepares to work for her employer again.
StartAD says it has taken a “multipronged” approach to providing start-ups with pandemic-era assistance, including taking advice and mentorship programmes online and creating a relief fund, in collaboration with partners VentureSouq and Scalable CFO. It also unveiled a community fund-raising initiative #LengthenTheRunway, encouraging pledges of goods and services for start-ups.
For start-ups concerned about setting up now, Ms Barakat cites a range of measures implemented by the UAE government and financial institutions for funding stressed start-ups, with the likes of Dubai International Financial Centre, Abu Dhabi Global Market, Kizad and Dubai Silicon Oasis Authority introducing fee waivers and office rental holidays.
Banks are also helping SMEs address debts by offering loan repayment holidays and reducing fees. Meanwhile, investment firms and accelerators, including Hub71, AstroLabs, Beco Capital and Payfort, offer potential funds and business coaching providers Bessern and The Co- Dubai deliver free sessions to those that need help.
“Currently a start-up’s future is highly sector-dependent, but the same is true now as always has been; if an entrepreneur is able to provide a product or service to a market which needs it, they will have a strong business basis," says Ms Barakat.
“The world has adjusted to new forms of living, working and interacting and accordingly there are opportunities available for start-ups to provide innovative solutions for individuals and businesses during this time."
She advises wannabe start-up founders to talk to as many people as possible because "understanding people’s lives and needs is a key part of what defines a great entrepreneur and through this process of uncovering your customer, you can design, build and sell a product that is, for them, truly life-changing".
Ahsant’s Ms Suguitan agrees with that sentiment. If someone aspires to start a business now, they just need to “listen well to what the market needs”, she says.
“Some people still have money and want to do business … entrepreneurs should be out there catching them," she adds.
“There will be days when you are asking ‘why am I doing this?’ … then, you realise, ‘because I love doing this’.”
The distance learning plan
Spring break will be from March 8 - 19
Public school pupils will undergo distance learning from March 22 - April 2. School hours will be 8.30am to 1.30pm
Staff will be trained in distance learning programmes from March 15 - 19
Teaching hours will be 8am to 2pm during distance learning
Pupils will return to school for normal lessons from April 5
COMPANY%20PROFILE
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More on animal trafficking
More on animal trafficking
Off-roading in the UAE: How to checklist
The Scale for Clinical Actionability of Molecular Targets
PROFILE OF HALAN
Started: November 2017
Founders: Mounir Nakhla, Ahmed Mohsen and Mohamed Aboulnaga
Based: Cairo, Egypt
Sector: transport and logistics
Size: 150 employees
Investment: approximately $8 million
Investors include: Singapore’s Battery Road Digital Holdings, Egypt’s Algebra Ventures, Uber co-founder and former CTO Oscar Salazar
The specs
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Sam Smith
Where: du Arena, Abu Dhabi
When: Saturday November 24
Rating: 4/5
2.0
Director: S Shankar
Producer: Lyca Productions; presented by Dharma Films
Cast: Rajnikanth, Akshay Kumar, Amy Jackson, Sudhanshu Pandey
Rating: 3.5/5 stars
If you go
The flights Etihad (www.etihad.com) and Spice Jet (www.spicejet.com) fly direct from Abu Dhabi and Dubai to Pune respectively from Dh1,000 return including taxes. Pune airport is 90 minutes away by road.
The hotels A stay at Atmantan Wellness Resort (www.atmantan.com) costs from Rs24,000 (Dh1,235) per night, including taxes, consultations, meals and a treatment package.
SQUADS
UAE
Mohammed Naveed (captain), Mohamed Usman (vice-captain), Ashfaq Ahmed, Chirag Suri, Shaiman Anwar, Mohammed Boota, Ghulam Shabber, Imran Haider, Tahir Mughal, Amir Hayat, Zahoor Khan, Qadeer Ahmed, Fahad Nawaz, Abdul Shakoor, Sultan Ahmed, CP Rizwan
Nepal
Paras Khadka (captain), Gyanendra Malla, Dipendra Singh Airee, Pradeep Airee, Binod Bhandari, Avinash Bohara, Sundeep Jora, Sompal Kami, Karan KC, Rohit Paudel, Sandeep Lamichhane, Lalit Rajbanshi, Basant Regmi, Pawan Sarraf, Bhim Sharki, Aarif Sheikh
Another way to earn air miles
In addition to the Emirates and Etihad programmes, there is the Air Miles Middle East card, which offers members the ability to choose any airline, has no black-out dates and no restrictions on seat availability. Air Miles is linked up to HSBC credit cards and can also be earned through retail partners such as Spinneys, Sharaf DG and The Toy Store.
An Emirates Dubai-London round-trip ticket costs 180,000 miles on the Air Miles website. But customers earn these ‘miles’ at a much faster rate than airline miles. Adidas offers two air miles per Dh1 spent. Air Miles has partnerships with websites as well, so booking.com and agoda.com offer three miles per Dh1 spent.
“If you use your HSBC credit card when shopping at our partners, you are able to earn Air Miles twice which will mean you can get that flight reward faster and for less spend,” says Paul Lacey, the managing director for Europe, Middle East and India for Aimia, which owns and operates Air Miles Middle East.
BRIEF SCORES:
Toss: Nepal, chose to field
UAE 153-6: Shaiman (59), Usman (30); Regmi 2-23
Nepal 132-7: Jora 53 not out; Zahoor 2-17
Result: UAE won by 21 runs
Series: UAE lead 1-0
Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
The BIO:
He became the first Emirati to climb Mount Everest in 2011, from the south section in Nepal
He ascended Mount Everest the next year from the more treacherous north Tibetan side
By 2015, he had completed the Explorers Grand Slam
Last year, he conquered K2, the world’s second-highest mountain located on the Pakistan-Chinese border
He carries dried camel meat, dried dates and a wheat mixture for the final summit push
His new goal is to climb 14 peaks that are more than 8,000 metres above sea level
Results for Stage 2
Stage 2 Yas Island to Abu Dhabi, 184 km, Road race
Overall leader: Primoz Roglic SLO (Team Jumbo - Visma)
Stage winners: 1. Fernando Gaviria COL (UAE Team Emirates) 2. Elia Viviani ITA (Deceuninck - Quick-Step) 3. Caleb Ewan AUS (Lotto - Soudal)
Company profile: buybackbazaar.com
Name: buybackbazaar.com
Started: January 2018
Founder(s): Pishu Ganglani and Ricky Husaini
Based: Dubai
Sector: FinTech, micro finance
Initial investment: $1 million
Company%20profile
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Set-jetting on the Emerald Isle
Other shows filmed in Ireland include: Vikings (County Wicklow), The Fall (Belfast), Line of Duty (Belfast), Penny Dreadful (Dublin), Ripper Street (Dublin), Krypton (Belfast)
MATCH INFO
Uefa Champions League semi-final, first leg
Tottenham 0-1 Ajax, Tuesday
Second leg
Ajax v Tottenham, Wednesday, May 8, 11pm
Game is on BeIN Sports
Where to donate in the UAE
The Emirates Charity Portal
You can donate to several registered charities through a “donation catalogue”. The use of the donation is quite specific, such as buying a fan for a poor family in Niger for Dh130.
The General Authority of Islamic Affairs & Endowments
The site has an e-donation service accepting debit card, credit card or e-Dirham, an electronic payment tool developed by the Ministry of Finance and First Abu Dhabi Bank.
Al Noor Special Needs Centre
You can donate online or order Smiles n’ Stuff products handcrafted by Al Noor students. The centre publishes a wish list of extras needed, starting at Dh500.
Beit Al Khair Society
Beit Al Khair Society has the motto “From – and to – the UAE,” with donations going towards the neediest in the country. Its website has a list of physical donation sites, but people can also contribute money by SMS, bank transfer and through the hotline 800-22554.
Dar Al Ber Society
Dar Al Ber Society, which has charity projects in 39 countries, accept cash payments, money transfers or SMS donations. Its donation hotline is 800-79.
Dubai Cares
Dubai Cares provides several options for individuals and companies to donate, including online, through banks, at retail outlets, via phone and by purchasing Dubai Cares branded merchandise. It is currently running a campaign called Bookings 2030, which allows people to help change the future of six underprivileged children and young people.
Emirates Airline Foundation
Those who travel on Emirates have undoubtedly seen the little donation envelopes in the seat pockets. But the foundation also accepts donations online and in the form of Skywards Miles. Donated miles are used to sponsor travel for doctors, surgeons, engineers and other professionals volunteering on humanitarian missions around the world.
Emirates Red Crescent
On the Emirates Red Crescent website you can choose between 35 different purposes for your donation, such as providing food for fasters, supporting debtors and contributing to a refugee women fund. It also has a list of bank accounts for each donation type.
Gulf for Good
Gulf for Good raises funds for partner charity projects through challenges, like climbing Kilimanjaro and cycling through Thailand. This year’s projects are in partnership with Street Child Nepal, Larchfield Kids, the Foundation for African Empowerment and SOS Children's Villages. Since 2001, the organisation has raised more than $3.5 million (Dh12.8m) in support of over 50 children’s charities.
Noor Dubai Foundation
Sheikh Mohammed bin Rashid Al Maktoum launched the Noor Dubai Foundation a decade ago with the aim of eliminating all forms of preventable blindness globally. You can donate Dh50 to support mobile eye camps by texting the word “Noor” to 4565 (Etisalat) or 4849 (du).
The Way It Was: My Life with Frank Sinatra by Eliot Weisman and Jennifer Valoppi
Hachette Books
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
Did you know?
Brunch has been around, is some form or another, for more than a century. The word was first mentioned in print in an 1895 edition of Hunter’s Weekly, after making the rounds among university students in Britain. The article, entitled Brunch: A Plea, argued the case for a later, more sociable weekend meal. “By eliminating the need to get up early on Sunday, brunch would make life brighter for Saturday night carousers. It would promote human happiness in other ways as well,” the piece read. “It is talk-compelling. It puts you in a good temper, it makes you satisfied with yourself and your fellow beings, it sweeps away the worries and cobwebs of the week.” More than 100 years later, author Guy Beringer’s words still ring true, especially in the UAE, where brunches are often used to mark special, sociable occasions.
The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
Our legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
UAE SQUAD
Omar Abdulrahman (Al Hilal), Ali Khaseif, Ali Mabkhout, Salem Rashed, Khalifa Al Hammadi, Khalfan Mubarak, Zayed Al Ameri, Mohammed Al Attas (Al Jazira), Khalid Essa, Ahmed Barman, Ryan Yaslam, Bandar Al Ahbabi (Al Ain), Habib Fardan, Tariq Ahmed, Mohammed Al Akbari (Al Nasr), Ali Saleh, Ali Salmin (Al Wasl), Adel Al Hosani, Ali Hassan Saleh, Majed Suroor (Sharjah), Ahmed Khalil, Walid Abbas, Majed Hassan, Ismail Al Hammadi (Shabab Al Ahli), Hassan Al Muharrami, Fahad Al Dhahani (Bani Yas), Mohammed Al Shaker (Ajman)
England World Cup squad
Eoin Morgan (capt), Moeen Ali, Jofra Archer, Jonny Bairstow, Jos Buttler (wkt), Tom Curran, Liam Dawson, Liam Plunkett, Adil Rashid, Joe Root, Jason Roy, Ben Stokes, James Vince, Chris Woakes, Mark Wood
Our legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
