BUSINESS FINANCE SITUATIONS DUE TO THE COVID 19 EPIDEMIC CRISIS: CASE STUDY OF UAE

Abstract

The COVID-19 corona virus epidemic has caused havoc on the world economy and is now expanding globally. The disease's progression and financial effects are largely unknown, making it more difficult for authorities to create an adequate macroeconomic policy response. The ongoing pandemic has triggered an extraordinary catastrophe that has disrupted the UAE's economy and lab our market. For example, entire or partial lockdown has resulted in the closure of businesses, resulting in the loss of jobs for a variety of people. The study gathered scholarly resources from a variety of academics who expressed their viewpoints on how the COVID-19 outbreak has affected the UAE's economy and labour prices (UAE). Purposive sampling techniques were employed to investigate the elements that contributed to the rise in labour costs and project costs. The primary goal of the purposive sampling technique was to investigate how the elements were altered and their influence on the UAE economy. COVID-19's impacts on the UAE's employed and non-employed residents were also debunked through random online interviews. The majority of businesses have remained closed, according to the data, while the few that have remained open have established workplace flexibility such as remote working and reducing employee numbers. The study did, however, have certain shortcomings. First and foremost, it was restricted to chosen commercial entities and construction projects. Furthermore, the material presented was sparse and lacking in detail. After doing the investigation, the analyst will need to use a qualitative research strategy for the future study. The method will provide full details on how COVID-19's effects on the economy are seen by contractors and businessmen. Even a contained outbreak, according to the possibilities outlined in this study, might have a significant short-term effect on the economy. These simulations demonstrate the scale of costs that could be averted by boosting public health system expenditure in all nations, but particularly in less developed countries with poor medical systems and dense population.