5 most common challenges entrepreneurs face in UAE

5 most common challenges entrepreneurs face in UAE

Setting up a business and operating it is not an easy task. Even in a business hub like Dubai, where every service is available for businesses to use and enhance their capabilities, different issues have to be faced by business owners. This points towards the fact that it is not always joy and profit when operating a business. It takes sweat and hard work to establish a successful business setup in Dubai.

To lessen the burden of so many business tasks that are at hand, business owners try to get help from business consultancies like Business Setup Dubai. The consultancy does not only provide its expert advice as to which type of company you should form keeping in view, your requirements; it also provides visa services, trademark registration and pro services that really helps business owners worry less about the secondary tasks and focus on all that is more important for the business.

What are the 5 common challenges faced by entrepreneurs?

a. Unawareness about the laws

Entrepreneurs who are trying to setup their business in the UAE, particularly Dubai are unaware of the laws and processes that need to be followed. They are not aware of the different types of companies that can be formed nor areas like Dubai Free zone and others. Engaging a business consultancy to increase the chances of having a successful business setup in Dubai is a trick that works for most businesses. They will provide all the necessary details that the business owners require and provide help on legal matters too.

b. Getting famous

In a market as competitive as that in Dubai, company owners need to make a special effort to make sure they are known in the market. Working on trademarks and marketing strategies is really important for this reason. Business consultancies can take care of the trademark registration while you focus on the development of a marketing strategy that extends your reach in the market.

c. Managing funds

Often, entrepreneurs do not realize that setting up a business, whether it is in Dubai free zone or mainland can take consume lots of money, not because of the taxes and registration but because of the rent and equipment that is required by the business. For this reason, it is important that a cash flow strategy is developed so that expenditures can be regulated for the betterment of the business. Some tasks can be managed in a better way at a lesser cost if delegated to business consultancies. These tasks include bank account opening, pro services and business registration.

d. Managing staff

It is important that staff hired by the entrepreneurs is capable enough to provide efficient output in the given time, or else costs go up significantly. A solution to this is to take help from business setup consultancies that can provide results that you require at a lower cost than those incurred when a business hires a new employee.

e. Developing a work flow

Developing a work flow in the Organization is not an easy task for the entrepreneurs. Tasks have to be divided even before staff is hired so that each slot can be filled with the most suitable candidate. Work flow development requires that tasks are equally divided and staff is trained in a way that work does not stop at any cost. Work flow development can be complimented by business consultancies that can handle secondary tasks for you. Constant communication between the consultancy and your staff will allow smooth operations and guaranteed results.

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