Planning for a rainy day

A third of the way into 2008 and it has already proved to be far more problematic for SMBs than any previous year - both financially with the dollar pegging, and in real terms.

First there were the floods that saw many businesses and enterprises forced to curtail work or shut down completely as the transport infrastructure ground to a halt.

Then, in the following months, workers in many of the emirates took to the streets to demand pay increases as the weakening dollar exchange rate began to hit home, culminating in the arrest of hundreds of labourers as the police restored order.

Three blazes of huge proportions then darkened the Dubai skyline in the space of a week. First affected was the main industrial centre of Al Quoz, as an accident in an illegal firework factory led to a fire that engulfed dozens of warehouses.

The Deira Souq was next with another 200 shops and buildings burned during a night-time conflagration. Al Quoz was the scene of a further blaze a week after the first one, as a paint and chemicals warehouse went up in flames.

All of these should be used to serve as a sharp reminder to SMB owners and managers. Despite all the precautions that can be taken to avoid incidents that can affect productivity it is the ones that cannot be predicted that often have the biggest effect.

Hopefully the year will move on to see itself out in a much more promising conclusion, but SMBs should nevertheless take onboard the events of the last few months and work to prepare contingencies should they recur.

It never hurts to be prepared.

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