Some UAE Companies Will Rise from Recession and Surpass the Rest

Just when the economy’s really picking up and companies look towards building momentum again to hit the recovery rollercoaster running, then Dubai World seems to throw a proverbial spanner in the works. However, it has been vehemently argued from the very top of UAE government that any financial difficulties faced by departments of Dubai World are independent from any reported national ‘crisis’ of the country and should not be treated as such.

Even during the worst periods of the economic slump, across the city Dubai and the UAE didn’t appear to be hit quite as hard as the rest of the world. It’s plain to see that Dubai, with its strategic position and enviable infrastructure now in place, will come through these uncertain times in a typically quick and dynamic fashion.

We at BAFCO believe the world of interior design and office furniture is an excellent indicator of real confidence in an economy. Which company boss who thinks his business might be going under would seriously be considering fitting out their office with the very best products the market has to offer?

During the half of 2009, BAFCO was experiencing the same lack of new business as any other interior and furniture firm and sales were admittedly very poor – amongst the worst in nearly 20 years of operation. However, orders are now pouring in, with three times as many sales in Q3 as the total sales for the first half of the year.

We think the rocketing sales figures are largely down to general confidence among company owners in their future here in the UAE. It is these forward thinking companies that will make the most of economic recovery and any resulting boom period. These are the same companies who are currently active in the market, taking advantage of lower sales and rental prices, looking for bigger premises in better locations and spending some of their savings fitting out their new spaces to position themselves above their competitors, attract the best new employees and keep the cream of their incumbent teams – who they have held onto during the leanest times.

Some of the world’s top products have been launched during recessions and we at BAFCO believe that the UAE’s top companies will be the ones who invest now in order to rise from the recession and surpass their competitors.