From Downturn to Upturn, An Economic Lift of Local Business Entrepreneurs in Qatar as Affected by the Covid-19 Pandemic: A Phenomenology

Abstract

Abstract: Background: Globally, local entrepreneurs have experienced an economic downturn brought about by the Covid-19 pandemic. Local businessmen in Qatar are not an exception. Method: This qualitative research paper utilized the phenomenological approach as it sought to understand the lived experiences of business owners in Qatar who are experiencing financial decline relative to the central question: “How do local business owners deal with financial decline brought about by the Covid-19 pandemic?”. Findings: The verbal ponderings and statements of the respondents revealed three major themes that local business partners had experienced before their businesses finally reached an upswing. These are (1) CUSTOMER RELATIONS, dealing with Acknowledging Achievements, Attaining Customer Values, and Operating Responses, (2) ADJUSTMENT REMODELING, focusing on Building Foundations, Adapting to Changes, and Coping with Mishaps, and (3) BEHAVIORAL DEVELOPMENT which is about Dealing Impacts, Relieving Stress, and Addressing Liabilities of the businesses impacted by the pandemic. Conclusion: Local Business Partners had a continuous downturn to a series of events revolving around its business, however, most of the respondents are satiated with operating the facility under circumstances. Recommendations: This study recommends that business owners here in Qatar enable themselves to be knowledgeable of the phases behind the strategies of managing a business. These can aid the entrepreneurs in their decision-making skills for the business to prosper. The upcoming related studies should further enlarge the concept of businesses as it will help begin a broader perception of the local businesses. Keywords: Qatar Business Owners, Entrepreneurs, Finance, Recession, Financial