The United Arab Emirates does have one of the world’s fastest-growing economies. It is among the few countries in the world that have effectively transitioned its economy. Previously it was an oil-dependent country, and today, its economy relies on various other business opportunities.
For several years, there has been a massive influx of expats into the region. These international entrepreneurs are settling in the UAE to establish their company setup. In the UAE, there are numerous business and investment opportunities for both large and small businesses.
As a result, the UAE is now regarded as the best place in the world for aspiring entrepreneurs to start a company. If you want to establish a small business in Dubai, you’re in luck because there are numerous investment opportunities. This business setup Dubai opportunities can generate a significant profit even with a small investment.
Benefits of Starting a Business in the UAE
Dubai has transformed into a corporate behemoth that rivals the world’s biggest cities in just over two decades. From a dusty old town with a small trading community, Dubai is now a highly desirable business destination for any company.
It is best if you are looking to capture into the Middle East, Asia, and Africa’s rapidly expanding markets. Dubai encourages other cities and countries to aspire for the same lofty heights that Dubai has attained.
- The Free Zones
There are more than 20 free zones in Dubai, which house various industrial and business clusters. Investors from other countries may have complete control of their portfolios and benefit and capital repatriation.
- A compassionate Tax Regime
The joint ventures registered on the mainland or companies established in the FTZs, enjoy a tax-free haven in Dubai, as in all the other emirates. This is a fantastic incentive for people interested in investing in Dubai.
- Strategic Geographic Location
Dubai is located strategically between Asia, Europe, and Africa. Its proximity to Asian powers China and India makes it a desirable location.
Small Business Opportunities in UAE
We’ve put together a list of low-cost, highly-rewarding ideas of business setup in Dubai just for you. It will help you to realise your dream of financial independence. Furthermore, for foreigners living in the UAE, these business and investment opportunities are fantastic.
1. Real Estate and Construction
The United Arab Emirates is a nation that is constantly changing and developing. This method also entails upgrading the company’s already excellent infrastructure. Many mega-projects are currently in the works, and these ventures would undoubtedly boost the real estate industry.
With the Dubai World Expo 2020 looming closer, the construction and real estate sectors are expected to see even more development. It will also open up new business opportunities for small investors.
2. Information Technology
The IT sector is currently the UAE’s most in-demand industry. It makes someone with essential IT and tech skills the most sought-after specialist. So, if you have a talent that you are especially good at, you can use it to start a service-based company. You can do so without investing a dime of your own money. You can quickly begin working as a freelancer in one of the free zones dedicated solely to IT-related businesses.
The UAE, especially Dubai, is known for its shopping festivals and opulent shopping malls, earning it the title of world shopping city. The UAE’s retail sector has always been one of the country’s vibrant markets, and any company in this sector is guaranteed to succeed in the future.
For aspiring entrepreneurs looking to break into the Dubai business scene, an online retail shop is a viable choice. With over 75 shopping malls in Dubai alone, conventional retail stores have many opportunities to develop.
4. Tourism and Travel
Dubai is without a doubt the most visited city on the planet. About 19 million people visited the city last year. The UAE government has made it easier for visitors by building multiple hotels and resorts. The hospitality industry in the United Arab Emirates is the country’s only government-supported industry. As a small business owner (or would-be owner), this is fantastic news. It is because you can now try your hand in the tourism, travel, or hospitality sectors with the full support of the UAE government.
5. Financial and Accounting Services
If more people become entrepreneurs, the market for competent and dependable accounting services grows. Accounting is in high demand, but so are other financial services like banking and insurance. So, if you’re good at accounting, bookkeeping, auditing, or other financial services, you can quickly start a low-cost, high-reward company in any of these areas.
6. Online Florist/Flowers Delivery Service
Flowers are not only profitable on Valentine’s Day in the UAE, but they can also be profitable regularly. Birthdays, anniversaries, weddings, and various other celebrations occur regularly in the UAE, and people require flowers. Adding delivery services and an online ordering system to your company expands your market and encourages customers to use your service. Also, you can have chocolates and other delicacies in addition to the flowers to make it a more valuable service.
The United Arab Emirates, specifically Dubai, is widely regarded as the world’s global trading center. The majority of goods traded in the Middle East and North Africa (MENA) would pass through the UAE ports. The nation’s positioning strategy puts it at the center of all action, making it difficult to ignore its global significance.
For foreign investors, the seven businesses mentioned above offer the best business opportunities. If a foreigner attempts to work in any of the industries mentioned above, they will almost certainly succeed.
If you want to start a business in the UAE, you’ll need the help of mainland company setup consultants. They can direct you through the process and provide logical solutions to your problems. The experts will make sure to offer the best possible service to all their customers. They will also assist you in starting your company.