I have been an independent financial adviser for over 11 years in the city and in recent years turned my experience in finance and passion for journalism into a full time role. I perform analysis of Companies and publicize valuable information for shareholder community.
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Countries across the globe are banking upon unique survival strategies to offset the challenges struck by COVID-19 outbreak which has rendered the world economy to suffer immeasurable dents in many ways. Businesses are striving to rebound into normal functions to resume back economic viability and sustainability. In this regard, Gulf Cooperation Countries have witnessed insurmountable setbacks in terms of F&B exports in these countries.
Thus, businesses in the region are resorting to parallel business strategies to make a tangible comeback. Practices such as maintenance of optimum safety protocols, pursuing open trade and large scale industrial collaborations to accurately identify and face the challenges of meeting the pressures of food distribution across masses for maintaining the balance of global food system have spurred quite an amount of brainstorming initiatives, such as the recently conducted “Beyond Covid-19: Rethinking Food for the Future.”, a EU initiated webinar.
The initiative is part and parcel of European Union’s campaign, More Than Food communication drive, which was conducted recently and an event boasting the presence of over 150 professionals from the F&B space, belonging to varied parts of the GCC.
The crux of the initiative was to intricately identify, re-design and strategize the reverberation plan, post COVID-19, such that each of the deployed initiatives accurately offset the aftermath of COVID-19 and the subsequent implications such as sluggish business operations and underperformance that eventually led to dismal revenue flow in consumer goods space in the GCC region. The webinar included full-proof business strategies to implement and execute business continuity, workforce deployment, transit and logistics infrastructure and much essential, communication matrix for uninterrupted business flow.
The consumer goods segment in GCC region especially focusing on F&B deliverables are akin on taking into account fast transitioning consumer preferences, revolving around healthy and nutrition based consumption pattern, thus largely focusing on localism which is creating major disruptions in export graph of the region. Therefore, SMBs stand a strong chance of making a big comeback in the post COVID-19 era.