Surviving the pandemic: Lessons from Germany's SMEs

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Surviving the pandemic_Lessons from Germany's SMEs

In Germany, several companies have developed a variety of strategies to overcome the effects of the pandemic on the business world. These strategies include but are not limited to maintain spending on research and development (R&D), use financial buffers and establish alternative plans for supply chains.

ebm-papst Group was one of the various German companies that were interviewed. The company continued to invest in R&D despite a drop in turnover of almost 30 per cent in April.

"Now we are catching up month by month," said Stefan Brandl, CEO of ebm-papst.

ebm-papst intends to focus on three trends: air quality, which has gained immense attention and traction due to the pandemic; digitalisation, which means using data to make smarter facility management decisions; and demand for energy-saving products.