There are several different reasons why people choose entrepreneurship over so many other promising professions. Some people discover their knack of developing ideas from a very early age, others work for a company until they mature their own idea to run a business. But one thing that all successful entrepreneurs have in common is the ability to utilize an opportunity in the right environment and at the right time.
Regardless of how you get there, the greatest weapon of an entrepreneur is his/her innovative capacity. It gives the individual the power to bring a unique solution to the market and win the hearts and minds of your target market.
Dubai – A Place to Invest
Over the years, the tides of global commerce have brought numerous businesses and entrepreneurs on the shores of Dubai where opportunity and business environment are never too less to invest. With the strong and competitive economy, rich with strategic locations and dispersed with world-class infrastructure, Dubai is a city abundant with economic potential and home to world’s most amazing wonders. From gravity-defying skyscrapers to jaw-dropping undersea hotels, Dubai simply doesn’t cease to surprise. But behind the success of these marvels was an entrepreneur who brought the idea into a favorable environment and used his/her resource to bring the project into motion and then transform it into a global success.
Advantages of Doing Business in Dubai
In 2016, UAE improved its ranking in World Bank’s Ease of Doing Business report and currently ranks as the 26th best global market to start a business. UAE is also the highest ranked Middle Eastern country in this report by some margin. Dubai’s ever welcoming attitude towards investors and businesses has made it one of the most competitive markets in the global economy with various advantages for an entrepreneur.
0% TAXES AND VERY LOW IMPORT DUTY
Entrepreneurs seek a place that is reputable, cost-effective and feasible for its customers. Dubai exhibits all these qualities and offers 0% taxation on majority business types, meaning you get a far greater return on investment compared to other highly taxed cities around the world.
BUSINESS CONSULTING FIRMS
Access to new and serviced offices, specialized resources, online presence and great brand identity are the other benefits of choosing professional business setup services in Dubai. All these services are available in reasonable packages throughout UAE.
Entrepreneurism is all about setting up your business in the lowest possible budget and then building it into profit from ground up. Mainland zones offer low start-up costs which help entrepreneurs to establish their businesses in the fast lane. However, the law would make an Emirati national 51% shareholder to your business in this case. To avoid this, you can always go for a Local Service Agent (LSA).
SPECIALIZED BUSINESS ZONES
Unlike other economic centers in the world, Dubai offers specialized zones for specific business requirements. If you plan on creating a consulting firm you can go for mainland company, but if you are building a warehouse for exporting goods then a free zone will suit you best.
EASY TO FIND RESOURCES
Being one of the largest multi-cultural ecosystems in the world, Dubai attracts talent from all corners of the globe. This saves entrepreneurs head hunting costs for reliable and reasonably priced resources for their start-up. According to a recent survey, out of the 1.3 million people employed in Dubai, only 53,000 are Emirati nationals.
IT GETS BETTER EACH YEAR
With each passing year, the investment laws, regulations, and incentives get updated with better and improved policies to encourage more foreign investment. Entrepreneurs will never have to abandon their setups in Dubai.
These are just a few of the many benefits of doing business in Dubai. A robust economy, availability of specialized zones, low-cost investment and absence of taxes make it an ideal ground for entrepreneurs to bring their ideas into reality. Just make sure to choose the right consulting firm for your business setup.