The coronavirus pandemic has had a significant impact on the world of business. One of the sectors to be affected worst by the pandemic was the events industry, and 2020 saw the cancellation of many prominent events and exhibitions.
Headquartered in the UAE, the Great Minds Group (GM Events) is the region’s only turnkey company in the field of design, market research, events, marketing, and PR. During the global pandemic, the company went from having a lineup of 25+ government-led, large-scale summits, conferences, and exhibitions, to having 0 overnight. They could not make any long-term plans, and the pandemic posed many challenges to the company’s daily operations.
What Beehive did
While the COVID-19 pandemic postponed some of GM Events’ large physical events, the business still needed to continue preparing for them, requiring funding and additional resources. The company reached out to Beehive to access capital to support this.
Beehive understood what GM Events needed to help maintain their cash flow, and offered Term Finance, a fast, low-cost, and flexible financing solution for SMEs. Beehive Term Finance offers SMEs finance from AED100K with repayment terms between 6 and 36 months.
Beehive has helped GME Events maintain cash flow while the company expanded its workforce. Alongside this, they needed to diversify their business offering and portfolio as a response to the COVID-19 pandemic. As a result, GM Events launched a digital event agency, DigiConnect, which grew to be the most prominent digital event agency in the MENA region in less than a year. They have served clients from Latin America to Australia, and the Asia Pacific as physical borders do not impact digital event delivery.
– Leila Masinaei and Noel Greenway, Managing Partners, Great Minds Group