How to reduce the cost of business setup in Dubai with co-working space?Author businessconsultantsdubai
Setting up a new company in Dubai poses some challenges. It involves a sound business plan to minimize the risks and to take your business off to a good start.
Co working spaces are gaining popularity in the business industry, especially for start-up businesses in Dubai with limited funding. Dubai is one of the most sought after location where one can easily find an affordable and presentable office space. If you are a foreign investor looking to setup new business in Dubai on a minimal budget, you might want to consider starting off with a co working space.
Benefits of a Co Working Space?
A co working space in Dubai is a shared office space where entrepreneurs who run their own businesses work under a shared environment. The work environment that a co working space offers is similar to a traditional office, but at flexible rates. Typically, co-working spaces come up with bundle of services such as office equipment, front desk staff, high speed internet access as well as IT support including maintenance. All these services provide individual business owners with an opportunity to easily kick start in Dubai.
High Barriers to Entry in UAE – Business Start-Up Costs
Now-a-days it is a unanimous problem for every entrepreneur in Dubai that local start-up costs for office space and licensing are quite high. Whether one rents an unfurnished office space or traditional serviced office space in Dubai, business owners face start-up costs ranging between AED 50,000 to AED 200,000, that includes business license costs. These substantial figures are quite disincentive and hinder an entrepreneur from innovative risk taking resulting in anemic economic diversification.
This is where the concept of co working comes in. An effectively managed co-working space can minimize start-up cost by more than 95% and can create long term savings of 40% as compared to conventional office space.
Co-Working Space – Ideal for New Business Start-Ups
- Co working space is a feasible way to get a presentable office space in Dubai without having to build or rent a traditional office space, which typically requires a long lease agreement. Working under a shared office gives entrepreneurs the ability to “test the waters” and lower overhead costs.
- Co-working space provide extremely flexible terms that traditional offices do not, such as the option to scale up or down in size, monthly or even daily rental contracts. This is particularly lucrative for the entrepreneurial community who are reluctant towards long-term contractual obligations such as leases.
- Co working space provides affordable scalability, decreased capital investment which leads to lowered startup costs and operational risk. These are basic building blocks to attract a businessman to enter the market and they should be presented in order to sustain an entrepreneurial ecosystem.
- Co working space is the birthplace of one of our newest marvels, such as Instagram and Uber. Through this entrepreneur benefit from sharing ideas, networking and swapping skills. This space can also be utilized as a powerful tool to hire talent. In order to appeal the technologically centric workforce, co working space reflects the contemporary workplace model of collaboration, technological, social connectivity and comfort.
Business Consultant Dubai
Business Consultants Dubai is a leading global provider of professional, world class working environments. We offer a broad range of shared office and customized serviced office packages that include business licensing. If you are looking for co-working spaces with reasonable office rent in Dubai, Business Consultant Dubai is the perfect place to get started.