If you’re thinking of starting a business in the UAE, you’re in good company. The nation ranks 31st in the World Bank’s Ease of Doing Business 2016 report, and there are plenty of reasons why it’s such a great place to do business. With numerous free zones, excellent infrastructure, no taxes, low import duties, and a strategic location, the UAE is far ahead of its neighbors when it comes to doing business. However, there are also some hurdles that you’ll need to overcome if you want to start a business here. In this article, we’ll take a look at five things nobody tells you about starting a business in the UAE.
1- Time is money
One of the most important things to keep in mind when starting a business in the UAE is that time is money. The faster you can get your business up and running, the better. That’s why it’s important to choose a free zone that best suits your needs and to have all of your paperwork in order before you start the process of setting up your company.
Another thing to keep in mind is that the UAE is a very competitive market. If you want to succeed, you need to be able to move quickly and adapt to change. That’s why it’s important to have a solid business plan and to know your target market well.
2- Diversity is essential
The UAE is a melting pot of different cultures and nationalities. This diversity is one of the country’s biggest strengths, but it can also be a challenge when starting a business.
One of the best ways to overcome this challenge is to make sure that your team is diverse. Hire employees from different backgrounds and nationalities, and give them the opportunity to share their unique perspectives. This will not only help you better understand your target market, but it will also make your business more resilient to change.
Another way to embrace diversity is to offer products and services that cater to the needs of the UAE’s diverse population. For example, if you’re starting a food business, make sure to offer halal options.
And finally, don’t forget to celebrate the country’s many festivals and events. This will show your customers that you understand and appreciate the UAE’s culture and traditions.
3- Travel is more than important
The UAE is a strategic location that offers easy access to markets in the Middle East, Africa, and Asia. This makes it an ideal base for businesses that are looking to expand into new markets.
However, starting a business in the UAE also comes with some unique challenges when it comes to travel. For example, if you’re planning to travel to Dubai for business, you’ll need to apply for a visa in advance. The good news is that there are now many online visa services that can make the process easier.
Another thing to keep in mind is that travel within the UAE can be expensive. If you’re planning to do business in multiple emirates, it’s important to factor this into your budget.
And finally, don’t forget to get travel insurance. This will protect you in case of any unforeseen delays or cancellations.
This is something that many people overlook when starting a business in the UAE, but it’s essential to have a solid understanding of the country’s visa requirements and travel expenses before you begin.
4- What about admins?
One of the most important things to keep in mind when starting a business in the UAE is that you’ll need to have a good understanding of the country’s administration processes. This includes everything from getting your company registered to obtaining the necessary licenses and permits.
The good news is that there are now many online portals that can help you with this. For example, the Dubai Chamber of Commerce and Industry has an online platform that allows you to apply for a trade license and register your company.
Another helpful tip is to hire a professional service provider to help you with the administrative process. This will ensure that everything is done correctly and in a timely manner.
Hiring a professional service provider is especially helpful if you’re not familiar with the UAE’s administration processes. This is something that many people overlook when starting a business in the UAE, but it can save you a lot of time and hassle in the long run.
5- The Language
Although English is widely spoken in the UAE, it’s still important to have a good understanding of the local language. This is because many government documents and official forms are only available in Arabic.
One way to overcome this challenge is to hire an employee who speaks both Arabic and English. This will ensure that you’re able to communicate with government officials and fill out all the necessary paperwork.
Another option is to use a professional translation service. This is especially helpful if you don’t have the time or resources to learn Arabic yourself. Limitless Business can ensure that all your needs are met in order to start your own business in Dubai.
And finally, don’t forget to brush up on your cultural knowledge. This includes understanding local customs and etiquette. By doing this, you’ll be able to build better relationships with your customers and business partners.
This is something that many people overlook when starting a business in the UAE, but it’s essential to have a good understanding of the local language and culture before you begin. Otherwise, you may find yourself at a disadvantage when trying to navigate the country’s bureaucracy or establish new business relationships.
These are just a few of the things that you need to keep in mind when starting a business in the UAE. With a little preparation, you can set up your company and begin doing business in no time. Just be sure to do your research and hire a professional service provider to help you with the administrative process.