{"id":561046,"date":"2021-03-23T03:59:25","date_gmt":"2021-03-23T03:59:25","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/egypts-small-businesses-think-a-recovery-is-in-the-cards-this-year\/"},"modified":"2021-03-23T03:59:25","modified_gmt":"2021-03-23T03:59:25","slug":"egypts-small-businesses-think-a-recovery-is-in-the-cards-this-year","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/egypts-small-businesses-think-a-recovery-is-in-the-cards-this-year\/","title":{"rendered":"Egypt\u2019s small businesses think a recovery is in the cards this year"},"content":{"rendered":"

<\/a> Small businesses in Egypt are increasingly optimistic about where the economy is going<\/strong>, with 75% of respondents surveyed in Visa\u2019s 2021 Small Business Recovery study (<\/a>pdf<\/a>)<\/a> saying they expect a recovery this year. A key driver: The adoption of digital payments solutions as the central bank and Finance Ministry push ahead with digitalization and financial inclusion drives. As you\u2019d expect with a survey created by a card and payment provider, the poll focuses heavily on e-payments.<\/p>\n

A majority of respondents said online shipping is here to stay<\/strong>, with 88% saying they believed it would remain a preference among their clients beyond the pandemic. Half of Egyptian SMEs said their customers preferred digital payments during the pandemic, while 35% of merchants said they established an online presence for the first time after covid-19 increased demand for digital payments. This year is expected to see around 40% of Egyptian consumers<\/a> shopping online more frequently.<\/p>\n

More businesses are following suit:<\/strong> Some 24% of Egyptian merchants said they are planning to build an e-commerce platform, while 40% plan to offer contactless and digital prepayment options soon. Within the next two years, 44% of retailers who only accept banknotes intend to set up POS terminals and 29% will invest in new digital payment technologies.<\/p>\n

But digital acceptance is still far from the norm among small business owners: <\/strong>Only 24% of those surveyed said they trusted card payments, with 18% saying they would be concerned about the timely fulfillment of refund requests by consumers.<\/p>\n

Though as long as it\u2019s affordable, business owners are interested<\/strong>, with 23% of respondents saying they would be keen to implement low cost acceptance solutions.<\/p>\n","protected":false},"excerpt":{"rendered":"

Small businesses in Egypt are increasingly optimistic about where the economy is going, with 75% of respondents surveyed in Visa\u2019s 2021 Small Business Recovery study (pdf) saying they expect a recovery this year. A key driver: The adoption of digital payments solutions as the central bank and Finance Ministry push ahead with digitalization and financial […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8114],"tags":[199,72,183,287,666],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-561046","post","type-post","status-publish","format-standard","hentry","category-smes","tag-e-commerce","tag-enterpriseam","tag-fintech","tag-smes","tag-visa","wpautop","entry"],"acf":{"mongo_id":"85ed88a2-d1ac-4a0e-bee6-4d7aa881c69b","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[561034],"teaser":"","voice_url":""},"yoast_head":"\nEgypt\u2019s small businesses think a recovery is in the cards this year - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/egypts-small-businesses-think-a-recovery-is-in-the-cards-this-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt\u2019s small businesses think a recovery is in the cards this year\" \/>\n<meta property=\"og:description\" content=\"Small businesses in Egypt are increasingly optimistic about where the economy is going, with 75% of respondents surveyed in Visa\u2019s 2021 Small Business Recovery study (pdf) saying they expect a recovery this year. 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