New Startups uplift the economy of the country by creating new job opportunities, technology, innovation and industry over a time. It engages new talents and creativity. Before your startups obviously you do market research to know your target audience. The UAE government offers numerous business opportunities from the various sectors of the Industry. The UAE attracts investors by giving 100% ownership of business, Tax Benefits, support to smaller businesses, many options of visa, straightforward procedure to obtain license, and giving a favorable environment to live and work.
Business Idea: – We all want to start something new and big but selecting a good business idea is very important. A good Entrepreneur always has long term goals and a vision and mission for his business. Market research plays a very crucial role at this step. Taking advice from the existing market player is advisable at this initial stage for whichever sector you select. Dubai Free Zones offer more than 500 of Business activities.
Target Audience: – Until and unless you won’t have a clear idea of your target audience you can’t deliver your valuable product to the right customers. If you miss this stage it could give you a big setback for your business and soon you are bound to shut your new startups. Dubai is a huge market and has a diversified community.
Company Structure: – Select company structure according to your number of investors. There is Sole proprietorship, partnership firm, Joint venture firm, LLC Companies etc. Structure of the company is purely your choice. Generally the company structure depends on its business activity, revenue, size of the business, number of employees etc.
Business Fund: – Now the Concrete part comes which is the most important one without which you can’t run the business is Business Fund or you can say Capital. It’s very important to keep some backup funds also for uncertainties. You should assume that for the first 6 to 8 months you will not start getting revenues from your new startups and if you start earning revenues from the first month itself then it’s your luck and hard work and obviously perfect planning. We will give you a full solution to your business finance and assist you in tax-related business planning.
Business Location:- In the 20th century Dubai became the investment hub for new entrepreneurs. Dubai is giving opportunities to every new entrepreneur in every sector of business. The geographical location depends on the activity of your business and the spread of your product in the market. There are many choices available in the Free zones and also on Mainland. If you want to open a representative office only for marketing purposes of your business or the branch office then also a very simple and straightforward procedure.
Get License: – License procedures are very easy and simple in Dubai for your new startups. It is always advisable to hire a local and experienced agent to avoid confusion and make correct procedures to file license applications instead of facing any penalty by submitting wrong documents and information.
This article clears some basic questions which come before your new startups. I know there are many more but we are here to assist you and will clear the confusion. Believe it’s not that difficult with the Dubai Government to make your New Business Startups in Dubai. Feel free to contact us for any of your query.