Facebook rolled out a new initiative on Monday to help small and medium-sized businesses in the Middle East and North Africa do more online as the Covid-19 pandemic continues to affect sales.
The social media giant has launched a hub for SMBs that will provide regional small businesses with financial support and business advice through webinars under its #LoveLocal campaign.
“Small businesses are the backbone of any economy and pillars of the local communities,” Ramez Shehadi, the company’s managing director for the Mena region, said.
“In these challenging times, SMBs need help from community members ... [the] campaign is aimed at supporting local businesses and driving communities that will help SMBs grow during these unprecedented times,” said Mr Shehadi.
Facebook, which has more than 2.6 billion users globally, did not disclose the scale of financial assistance that it will offer to regional businesses as part of the campaign.
The global economy is facing its deepest recession since the Great Depression and is forecast to contract 5.2 per cent this year due to the economic fallout from the pandemic, according to the World Bank.
More than a quarter of SMBs around the world closed their doors at some stage in the first five months of the year due to Covid-19, according to a survey by Facebook, the World Bank and the Organisation for Economic Co-operation and Development. SMBs differ from SMEs by employment, with the former often relying on part-time workers or outsourced staff and the latter employing full-time workers.
In the Mena region, seven out of 10 SMBs reported lower sales, with about 40 per cent reducing their workforce as a result of the pandemic, the report said.
“It is now clear that the only way for SMBs to survive the pandemic is to pivot to digital. Entrepreneurs can register for free online courses to receive insights on Facebook’s services and tools that can help them boost leads and online sales,” Mr Shehadi said.
SMBs using the hub will gain free access to nearly 40 webinars covering subjects such as digital marketing and e-commerce.
“They can learn how to best use free Facebook and Instagram tools to connect with customers and the business community in these challenging times,” the company said.
Courses have been developed in partnership with leading e-commerce companies and Facebook partners from around the region. These include Cairo’s Expand Cart, Beirut-based e-commerce platform ecomz and Riyadh-based Zid, an e-commerce management platform.
Last month, Facebook said it will offer Dh2 million in cash grants and credits to more than 155 Dubai SMBs as part of a Dh367m pledge announced in March to help 30,000 SMBs in over 30 countries.
Companies eligible for grants should be for-profit businesses with between two and 50 employees and have been trading for more than a year.
In May, Facebook rolled out a Dh2.75m fund to support Mena's news industry during the ongoing pandemic. In the same month, it launched Shops – an e-commerce platform – to allow more companies to make digital transactions.
The National Archives, Abu Dhabi
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
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The specs
Engine: 6.2-litre V8
Power: 502hp at 7,600rpm
Torque: 637Nm at 5,150rpm
Transmission: 8-speed dual-clutch auto
Price: from Dh317,671
On sale: now
Other ways to buy used products in the UAE
UAE insurance firm Al Wathba National Insurance Company (AWNIC) last year launched an e-commerce website with a facility enabling users to buy car wrecks.
Bidders and potential buyers register on the online salvage car auction portal to view vehicles, review condition reports, or arrange physical surveys, and then start bidding for motors they plan to restore or harvest for parts.
Physical salvage car auctions are a common method for insurers around the world to move on heavily damaged vehicles, but AWNIC is one of the few UAE insurers to offer such services online.
For cars and less sizeable items such as bicycles and furniture, Dubizzle is arguably the best-known marketplace for pre-loved.
Founded in 2005, in recent years it has been joined by a plethora of Facebook community pages for shifting used goods, including Abu Dhabi Marketplace, Flea Market UAE and Arabian Ranches Souq Market while sites such as The Luxury Closet and Riot deal largely in second-hand fashion.
At the high-end of the pre-used spectrum, resellers such as Timepiece360.ae, WatchBox Middle East and Watches Market Dubai deal in authenticated second-hand luxury timepieces from brands such as Rolex, Hublot and Tag Heuer, with a warranty.
Seven tips from Emirates NBD
1. Never respond to e-mails, calls or messages asking for account, card or internet banking details
2. Never store a card PIN (personal identification number) in your mobile or in your wallet
3. Ensure online shopping websites are secure and verified before providing card details
4. Change passwords periodically as a precautionary measure
5. Never share authentication data such as passwords, card PINs and OTPs (one-time passwords) with third parties
6. Track bank notifications regarding transaction discrepancies
7. Report lost or stolen debit and credit cards immediately
THE BIO
Born: Mukalla, Yemen, 1979
Education: UAE University, Al Ain
Family: Married with two daughters: Asayel, 7, and Sara, 6
Favourite piece of music: Horse Dance by Naseer Shamma
Favourite book: Science and geology
Favourite place to travel to: Washington DC
Best advice you’ve ever been given: If you have a dream, you have to believe it, then you will see it.
MATCH INFO
World Cup 2022 qualifier
UAE v Indonesia, Thursday, 8pm
Venue: Al Maktoum Stadium, Dubai
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Mohammed bin Zayed Majlis
Types of policy
Term life insurance: this is the cheapest and most-popular form of life cover. You pay a regular monthly premium for a pre-agreed period, typically anything between five and 25 years, or possibly longer. If you die within that time, the policy will pay a cash lump sum, which is typically tax-free even outside the UAE. If you die after the policy ends, you do not get anything in return. There is no cash-in value at any time. Once you stop paying premiums, cover stops.
Whole-of-life insurance: as its name suggests, this type of life cover is designed to run for the rest of your life. You pay regular monthly premiums and in return, get a guaranteed cash lump sum whenever you die. As a result, premiums are typically much higher than one term life insurance, although they do not usually increase with age. In some cases, you have to keep up premiums for as long as you live, although there may be a cut-off period, say, at age 80 but it can go as high as 95. There are penalties if you don’t last the course and you may get a lot less than you paid in.
Critical illness cover: this pays a cash lump sum if you suffer from a serious illness such as cancer, heart disease or stroke. Some policies cover as many as 50 different illnesses, although cancer triggers by far the most claims. The payout is designed to cover major financial responsibilities such as a mortgage or children’s education fees if you fall ill and are unable to work. It is cost effective to combine it with life insurance, with the policy paying out once if you either die or suffer a serious illness.
Income protection: this pays a replacement income if you fall ill and are unable to continue working. On the best policies, this will continue either until you recover, or reach retirement age. Unlike critical illness cover, policies will typically pay out for stress and musculoskeletal problems such as back trouble.
More from Rashmee Roshan Lall
UAE currency: the story behind the money in your pockets
The biog
Favourite book: Men are from Mars Women are from Venus
Favourite travel destination: Ooty, a hill station in South India
Hobbies: Cooking. Biryani, pepper crab are her signature dishes
Favourite place in UAE: Marjan Island
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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
The biog
Name: Sarah Al Senaani
Age: 35
Martial status: Married with three children - aged 8, 6 and 2
Education: Masters of arts in cultural communication and tourism
Favourite movie: Captain Corelli’s Mandolin
Favourite hobbies: Art and horseback ridding
Occupation: Communication specialist at a government agency and the owner of Atelier
Favourite cuisine: Definitely Emirati - harees is my favourite dish
The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
On sale: Now
Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
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