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.