8 Steps to Promote and Develop Your Business Setup in DubaiAuthor businessconsultantsdubai
Introducing your organization in Dubai means becoming a part of world’s most vibrant business communities-it is a land of opportunities where half of the world’s global multi-national companies have their regional headquarters. Encouraged by the Emirate’s highly positive and pro-entrepreneurial policies, Dubai provides immense breakthroughs for those looking to start or expand their business into wider Middle East, South Asian and other markets.
There are many business consultants in Dubai who are providing highly competent services to all those who are keen to start their business/branch/ franchise in Dubai. Most of these consultants agree that specific steps can help promote and develop your setup.
Through extensive analysis and consulting with experts of the field following are the eight steps that will for sure make your venture successful in UAE:
1. Decide the Kind of Venture You Want to Pursue:
Deciding on the kind of business is key when trying to break into the market as not only it sets the tone for your business strategies but also it will determine whether there is a market for this particular idea.
To check the validity of the idea in case of a start-up, perform this 4 pronged check:
- Check out the competition: If there are any competitors to your proposed idea, you are on the right track. As direct competition means that there is a market for it.
- Conduct market research: Always conduct market research before starting actual production. Your prime target should be getting your product the exposure it requires to make it a success. For example you can create a poll regarding your product on popular social platforms.
- Run ads on Google AdWords: Type out a bunch of ads with various combination of keywords, make sure to give your email so that they can contact you and run these ads. After 3 weeks hopeful results will indicate the success of your campaign, otherwise back to the drawing board.
- Test your product: Test your product by making test batches and getting concrete feedback, which you can improve on till the launch of the product.
After making this key decision, the decisions regarding what type of license you must acquire will set the tone of your business operations. However, if you are thinking about setting up a jewelry or food business or even legal consultancy, you need to get approval from other governmental departments. The Department of Economic Development (DED) in Dubai offers a list of more than 2100 activities to choose from with its own principles and approval formalities.
2. Find Ownership of Your Business Setup in Dubai:
If you are a foreign national you need to get a license and decide upon a location in any free zone as soon as you step foot in Dubai. Overall, there are 45 free zones in UAE having numerous categorical options, so you do not run out of them. Business Consultants in Dubai are helping the foreign entrepreneurs get Management Consultancy license to legally set up their business offices, hire employees, apply for visas and other related services.
3. Understand the Legal Side of Business Setup in Dubai:
Depending on the type of your business setup, there are laws which have to be followed regarding the make-up of your organization. You can check out the official website of the free zone to know about legal formalities regarding the company structure. In order to obtain a vivid picture of the legal aspects of business in Dubai, our partner company, KWS Middle East, plays a vital role in advising the accurate legal tactics for your business.
4. The Company Name is Equally Important:
The name of your company is of crucial importance. It plays an immense role in how the brand is going to be perceived. It is literally the first thing customers is going to see, meaning it can easily make or break your company. The name of the business should clearly reflect the nature of your venture, unless it is a branch of another company.
5. Explore the Minimum Share Capital Option:
The minimum share capital is mentioned in the Memorandum of Association of your proposed company. However, there is no need to pay least capital at the time of business setup.
6. Time to Shortlist Some Premises:
After legal procedures and form submission, it is time to shortlist some offices with costs and other details. It is a clear sign that you are ready to launch yourself in the world of Dubai business. In free zone, you get support in finding the suitable premises for your company along with the assistance in setting up electricity, internet, water and other facilities. At times, the easier option to unburden yourself is renting space in a business center like VigorBiz which caters to all your business establishment needs.
7. The Employee Hiring Matter:
According to legal forms of the DED, you need to hire a manager (who is a national of Emirates) who can supervise your business operational matters before your registration is approved.
8. Local Contact Necessary for Foreign Nationals:
It is mandatory for foreign nationals to have a local contact, in order to achieve DED license. Having the right contact for free zone can take your business forward successfully.
If you want to start your business in Dubai, get in touch with our consultants at Business Consultants Dubai or drop your query at firstname.lastname@example.org