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The Covid-19 pandemic has posed significant challenges to businesses around the world. In June, the World Bank estimated that the global economy could shrink by 5.2 per cent this year – the deepest recession since the end of World War II.

But some entrepreneurs have beat the odds and found new opportunities by embracing digital technology in their everyday operations. Using tools such as online payment platforms and blockchain record-keeping systems, these five business owners across Asia have managed to sustain and grow their operations during this difficult period.

Clawing back towards profit

One Chinese entrepreneur who has benefited from digital transformation is Mo Jiaxuan, the owner of Beijing-based claw machine arcade chain MOMO Fun Star.

Mo founded the business in 2015, when he decided to turn his hobby into a business. His journey since then had been largely successful – last year, the company was running 18 profitable arcades and planned to open 180 more across China, Mo said.

Then the pandemic turned those plans upside down. As people were urged to stay home, Mo’s arcades recorded zero profit and struggled to pay rent.