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Weekly Roundups

SMEs Rely on Technology to Survive COVID-19

By Andrea Villar | Thu, 05/14/2020 - 13:21

SMEs are not having a good time due to the economic crisis unleashed by COVID-19. While some have cut staff, others have chosen to reduce their employees' salaries temporarily. Against this gloomy scenario, some have chosen to pool resources through crowdfunding.

One of the heaviest impacts was to the restaurant sector and while some continue to provide home deliveries to maintain their staff, others have closed permanently due to a lack of income. Companies like El Japonez, Butcher & Sons, Churrería El Moro and El Bajío have turned to crowdfunding platforms such as Donadora to raise funds and thus be able to cover the salary of their staff and other fixed expenses.

With the same purpose, Facebook said this week it is planning to introduce a new section called Businesses Nearby. This type of mapping tool will allow the user to read the latest posts from businesses within a certain geographic radius (this can range from 1 mile to 500 miles). This section will provide working hours and pickup/delivery information, allowing users to make a booking, an appointment or send a message and communicate live with these businesses.

More news below: 

  • As one of the public figures who have most supported the fight against COVID-19, Twitter CEO Jack Dorsey said on Tuesday that he will allow employees who can work remotely to do so indefinitely. In early April, Dorsey donated US$1 billion to fight COVID-19, which represents 23 percent of his personal fortune.

  • Uber will place US$750 million in five-year bonds for working capital and other general corporate purposes, which may include potential acquisitions like Grubhub’s. In 1Q20, the Uber Eats division gave a big boost to the company's revenue of US$3.543 billion, 14 percent more than in 1Q19. The company also said this week it will require drivers, delivery workers and riders globally to wear a mask as countries around the world begin easing confinement restrictions.

  • Just a few months after completing a year of operations in Mexico, Jump stopped providing its services since Friday last week.

  • Currently, the digital audience is more aware of their networks and spends more time on them, which is reflected in a 42 percent increase in browsing time from mobile apps and desktop computers, according to a Nielsen IBOPE report.

  • According to a report recently published by consulting firm Newzoo that specializes in gaming and e-sports, this industry will grow 9.3 percent by the end of 2020 compared to 2019 and will end the year with US$159.3 billion in revenue.

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Andrea Villar Andrea Villar Journalist and Industry Analyst