Innovating In The Middle Of A Pandemic:

How Working With Startups Can Help Larger Corporations Pivot Faster

Businesses of all sizes across the world have had the rug pulled out from under them as a result of the novel coronavirus pandemic.

It’s no secret that businesses of all sizes across the world have had the rug pulled out from under them as a result of the novel coronavirus (COVID-19) pandemic.

Companies from nearly every industry have been compelled to, in varying degrees, pivot their way of working overnight as the UAE and countries across the world imposed extreme movement restrictions to contain the outbreak.

More significantly, however, they are now faced with the stark reality that their model might need rapid and permanent revision.

From an optimistic standpoint though, isn’t this moment what entrepreneurship is all about?

After all, solving problems and finding opportunities in places others may have overlooked is what founders thrive on.

“Some of the most creative and innovative ideas [in the world] come out of startups and small and medium enterprises (SMEs),” says Natasha Hatherall-Shawe, founder of TishTash Marketing and Public Relations.

Hatherall-Shawe, who launched The SME Rise Collective along with Chloe Ragg, founder of Fox & Hound Digital Communications in April –an initiative offering individuals and companies the opportunity to support local SMEs by sponsoring marketing packages– says the strain on the small businesses has been “massive,” as they cope with paying staff salaries and other expenses as they face near stagnant revenues.

Sponsorship can be from as little as AED100.

In turn, the campaign also helps smaller marketing and communication agencies and licensed freelancers by allowing them to join the Collective and offer their services.

But while the Collective has received positive response so far, already supporting two SMEs with their marketing for two months and covering salaries for two agencies in the process, it’s mostly been individuals and other SMEs who have supported the sponsorships, Hatherall-Shawe says. “There’s people who have told me they’ve had a 50% pay cut, but still want to contribute,”

she shares, adding that the Collective wants to be “on the radar of the big guys,” because many larger firms have corporate social responsibility (CSR) budgets. “It’s not just about monetary support,” she explains. “They can help by mentoring or collaborating or offering support in other ways.”

And collaborating can benefit the bigger companies too, Hatherall-Shawe insists.

“Big companies are affected [by the pandemic] too,” she adds. “There’s the assumption that they’re faring much better, but I’ve had several CEOs tell me of their cash flow concerns.”

However, she admits, it can be hard for big firms to connect with startups, and many might not know where to begin or whom to deal with, and how to go about a thorough vetting process.

Read more: entrepreneur