Intelligent SME.tech Issue 25 - Page 10

// LATEST UPDATES //

Bizay adopts a four-day working week
Bizay has announced it will be adopting a four-day working week for all employees .
The move to a shortened working week follows the company ’ s decision to close all offices and become a 100 % remote company .
The four-day working week model , comprising 36 standard working hours , will be implemented on a trial basis with an initial two-year experimental pilot period .
In practice , the new approach will lead to a 17 % reduction of the working days per year – down to 186 days – and a reduction in the working hours by 7 %, down to 1672 hours . Together with Deloitte , Bizay will monitor the impact of these measures on a quarterly basis .
This continual monitoring will allow Bizay to adequately assess the impact of the four-day working week and analyse the effects of the approach within a wider business context . Insights will demonstrate how the move affects business decision-makers and employees .
SMEs facing mental health crisis as cost-ofliving bites
The cost-of-living crisis could be having an impact on the mental health of small business decision-makers and their employees , according to new research from Three Business .
While the financial impact of the cost-of-living crisis is well known , the survey of 1,003 small business decision-makers revealed the impact it could be having on their mental health .
Indeed , almost four in 10 ( 39 %) stated that financial pressures are contributing to a decline in their mental health , while over a fifth ( 22 %) say mental health exhaustion could be their biggest challenge this year .
For some , this only builds on the financial pressures they faced during the pandemic , with over two-thirds ( 68 %) stating that the pandemic had only ‘ intensified ’ the risks and pressures of running a small business .
A quarter ( 25 %) also admitted to worrying that their mental health will only decline over the rest of 2022 .
Xpence launches expense management solution in the UAE
Xpence has announced the launch of its expense management solution in the UAE – the second of five strategic markets it plans to launch in over the next 18 months .
Announcing this latest market entry at the GITEX Global technology conference , Xpence is now issuing VISA cards in the UAE and Bahrain and it was one of the first FinTechs in the region to join the Visa Fintech Fast track Programme in early 2019 .
UAE businesses are ideally placed to benefit from Xpence ’ s financial management platform .
A highly digitised nation with near 100 % internet penetration , the UAE is a leader of Digital Transformation across various industries . The country recorded over 70,000 new business licenses issued in 2021 , yet many still face challenges in opening bank accounts or digitalising their financial processes . �
10 intelligent
. tech
Intelligent SME . tech