Dubai, the crown jewel of the UAE, is fast becoming the much sought-after place to set up a new business in the Middle East. Dubai offers a flexible business environment, has a liberal government and it fosters a culture of friendly competitiveness and coexistence. The process of business setup in Dubai has been simplified a lot and it has to do with its government’s effort to reduce its reliance on Oil.
However, it is not just the big brands rather it is the astounding growth of small businesses that have played a pivotal role in its massive economic success story.
However, running a profitable, productive, and successful small business is easier said than done. One need to acquire different strategic skills and one should take into account the following points before setting up a business in Dubai –
Get to know your small business in dubai
The success of a small business organization depends on its idea, execution, a greater understanding of the local region, and thorough analysis and research of the potential competitors in the market. However, you also need to figure out the USP of your organization. You must inform and educate your target audience about the uniqueness of your product or service.
Basic research starts with spending money on advertising hoarding and banners. You can also feature your product on social media platforms like Google, Facebook, Twitter, etc. To catch the attention of the people and to get their feedback on the same.
Get a Local Partner for small business in Dubai
Starting a good business requires local partners and they can either be individuals or companies. There is no requirement to provide any financial contribution to the company but they hold the majority of stake in the company. It is important for the company to set its goals and objectives and the partners can thus be compensated.
Once the company registers the Ministry of Commerce requires proof of investment. You need to manage your financial resources through a bank or other monetary means if you are a new entrant. Once the financial viability of your venture establishes, and once your idea starts getting a positive response from the target audience your business can be taken to the next level.
By UAE Commercial Companies Law and Federal Law business organizations in Dubai, UAE is establishing under its seven categories.
Limited Liability Company is certainly one of the most popular forms of company structures. Among budding entrepreneurs as it offers extreme flexibility. You can form a company with just two people on board. The liability will limit your share investment in the company. There is also a minimum amount that you need to have for an LLC company formation in Dubai.
Professional firms require a limited number of staff to set it up. The government provides free zones and the companies can operate within them with the help of the distributor.
If you are finding it hard to deal with the complex task of setting up a small business in Dubai. You can hire our business setup consultant in Dubai. Business Link is one of the top leading business consultants in Dubai. They can assist and support you in all your business setup requirements.
For more details, get in touch with us: ✉ email@example.com | www.businesslinkuae.com | +971 55 6070 118 | ☎ + 971 43 215 228