Many times, you might have a very good idea for business yet you may not succeed in it. Many times, you have the right products for the market, yet you fail to make a sale. When you start a business, several factors need to be taken care of. It is not just the products and the prospects it is also about the right location and the right market. Dubai, one of the most prestigious cities in the world has got immense opportunities for business. The reason the global business community has made Dubai its first choice to establish their business. Dubai is not only a market with endless opportunities, but it is also a market that has the potential to reach the right consumers at the right time. This quality of life and a huge scope of business put Dubai on the top of every business person’s list.
Any business that is based in Dubai has the potential to capture a market of over one billion consumers, from all neighbouring countries, Europe, Asia, and even Africa.
Since the city is easily commutable from all the parts of the world, and also investor-friendly, businesses situated here have the potential to reach out to a huge customer base from neighbouring countries. Moreover, the Emirate does not charge any personal and corporate tax on its citizens and businesses. The cost of living too is lower in Dubai as compared to other developed cities in the world.
Here we will discuss all the attractive business opportunity in Dubai:-
1. Information Technology
Dubai is expected to be the smartest city in the world by 2021. The world-class amenities that encourage the IT businesses have made this city the choicest city for the IT sector across the world. As per the Smart Cities Index, Dubai is amongst the top five cities in the world that uses technology to improve the quality of life of its people.
Dubai is home to more than 1200 IT start-ups today. No business can grow without the help of technology and digitization. The city also has several IT hubs, namely – Dubai Internet City and the Dubai Silicon Oasis. These technology hubs are fully-equipped with state-of-the-art smart infrastructure, high-tech business services, and smart communication too.
2. Apparel and Garment
Dubai is home to several international fashion brands. Popular as one of the top retail destinations all over the world where millions of shopping enthusiasts come to shop, Dubai’s apparel and footwear industry are amongst the most favourite for die-hard shoppers. Dubai flaunts the world’s top designers’ work, where you would find leading designers working closely with the most prestigious fashion brands in the world.
The apparel industry is vast and has immense options to choose from. If you think you can do anything and everything then you are wrong. If you have experience in the industry then it would be easier for you to pick the work that you would like to do. However, if you have passion for something specific in apparel then you can hire experts to look after your business. You can choose from clothes design, costume designing, costume rental, tailoring, import/export of clothes and apparels.
3. Advertising and Promotion
Dubai is a great market for the advertising industry, especially digital media. The city shows a huge opportunity for the ad world, hence professionals and businesses in this industry continue to grow.
4. Ecommerce and Supply Chain
Ecommerce is one of the most flourishing sectors in the world. It is expected to grow even more in the near future. With new and emerging technologies supporting it in improving its service, e-commerce is going to reach the acme of success in Dubai’s business circle. Though lesser developed than the markets in UAS, some European countries, and China, Dubai is one of the most vibrant destinations for online shoppers.
To run an e-commerce business, you do not need a huge investment. All you need is a laptop/desktop, internet connection and product and services that you would sell. Ecommerce is a type of business that opens its business to the entire world at the same time. So, even if your business is based in Dubai, you can still run it from any other part of the world without any worries.
5. Recruitment or Human Resource Firm
Dubai is amongst the top cities that receive a huge number of skilled professionals from all over the world for work. The reason is its ever-growing market and industry. The city has got endless opportunities for qualified and skilled professionals. The growing economy of Dubai creates continuous jobs and hence there is an increasing demand for workforce. Due to rising businesses establishing their offices in Dubai, there is a huge demand for professionals to cater to the workforce demand in those offices. This is why the business of opening a recruitment agency would flourish in Dubai.
The best thing is opening a recruitment agency is, there is a nominal investment. If you have the skills to meet the workforce demand of the growing businesses in Dubai, then the business of a recruitment agency can bring huge revenue for you.
6. Food Supplies, Food Processing and Food Technology
Dubai is fast becoming a leader in agro-tech and other food types industries. The city is a hub for food trading, hence receive over 70% of UAE food imports, which she re-exporting to more than 160 countries. Dubai also produces its food for export. The food industry is prosperous in Dubai and UAE due to the innovative farming and agricultural technology that it uses in its food and agriculture sector. Moreover, there are many areas like – organic farming, the halal food industry, the dry fruits industry and processed food too.
To start a business in the food and agriculture sector you will first have to obtain a UAE foodstuff trading license, which will help you compete in the Dubai market. Food trading has got strict rules, and there are different licenses for different products. Hence, you would need all the essentials to make a clean business plan.
7. Book-keeping and Accounting
Book-keeping is one of the commonest businesses in Dubai, as almost all businesses required bookkeeping services. Since Dubai is fast becoming the most popular destination for the world business community there is no dearth of business for book-keepers. The city has got a large number of book-keeping companies serving the business requirements of various kinds of businesses.
If you have got experience in accounting, finance, and taxation then book-keeping can open immense business scope for you. You must have relevant qualifications, which will help your clients believe in your service. Moreover, you will also need a business license and other necessary certifications to start your business. If you have the right qualification then there is 0% investment requirement in the book-keeping business.
8. Supply and Logistics
Dubai is preferred by the global business community for the benefits that they get from its world-class infrastructure, a business-friendly environment, supportive government, progressive people and its ideal location between the two parts of the world. The city also invites millions of travel buffs for the fantastic options it offers to its visitors from every part of the world.
Dubai is the business hub for the world’s several supply-chain service providers. This makes the logistics sector of Dubai a thriving one. Also, Dubai is the first choice for many event planners and event organisers. These events and growing business opportunities make Dubai an ideal destination for business in logistics.
Setting up your own business is never so easy. Hurdles are very normal when you start a business. But if you have the skills and you have landed at the right place then nothing can stop you. Dubai has got an immense potential for those looking for a business opportunity in the industry that we have discussed above.
If you have already decided to establish your business in Dubai, then the above points would be of great help. Moreover, you can hire a consultant who can guide you in the right direction as per the local market standards.
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