There’s no doubt that the pandemic has impacted the way that businesses operate. Business owners in Dubai and from all around the world had to change their structure and uncover new opportunities to succeed during the pandemic. While this is a new way of doing business now, there’s no telling when things will fully be back to normal. But that doesn’t mean that new businesses shouldn’t open during this challenging time. In fact, there are several small businesses that are flourishing during this new normal.
Keep reading to find out what businesses are likely to succeed in a post-pandemic world and find out how simple it is to get your company setup in the UAE.
Why You Should Setup Your Business in UAE
If you’re looking to start a new business in a booming economy, it doesn’t get any better than the United Arab Emirates. The country is considered one of the Middle East’s most important economic hubs. The UAE is known for its strategic location and hassle-free company formation.
Dubai is considered the financial capital of the UAE. Real estate, trade, tourism, and financial services are big industries in the Emirate. There are also over 30 Free Zones in the emirate that all have tax exemptions and property ownership benefits.
Sharjah is great for business setup in UAE. Here you’ll get the advantages of a big city without having to pay a big price tag. The area has shown massive growth in technology, arts, and culture over the last few years.
Abu Dhabi is the capital of the UAE. The city is known for a luxurious lifestyle and is one of the richest areas in the UAE. Real estate, industrial development, and tourism are big industries in this spot.
Ajman is in a great location situated right at the entrance of the Arabian Gulf. This location puts business owners close to major cities, four ports, and two international airports. Manufacturing, retail, and services are popular business options in this Emirate.
Fujairah is the fifth-largest emirate in the country. It’s a hot spot for import and export businesses because it has both a seaport and an airport. It’s also the only Emirate situated along the Arabian Gulf, which makes it well connected to other major cities like Dubai, Sharjah, and Abu Dhabi.
Ras Al Khaimah
Ras Al Khaimah (RAK) is just 45 minutes away from Dubai. Its Free Zones are the closest to the far Eastern nations, China, India, Iran, Pakistan, and Commonwealth of Independent States.
Umm Al Quwain
This up-and-coming state is located near Dubai and Sharjah, so it is in a great location for international access. Umm Al Quwain is considered one of the cheapest Emirates for business setup in UAE with a hassle-free registration.
Not only are there seven thriving areas to pick from for business setup in UAE, but there’s a long list of benefits that come with doing business here.
Here are some of the many reasons that entrepreneurs from around the world decide to setup their business in the UAE:
- No personal or corporate taxes
- Growing economy
- No foreign exchange controls
- Access to a diversified economy
- Modern facilities and infrastructure
- Free zone benefits
- Low import duty
- Flexible government regulations
UAE Business Setup Ideas for 2021 and Beyond
As we mentioned earlier, many businesses have seen a setback due to the pandemic. While it may seem scary to be an entrepreneur during these unforeseen times, there’s no better place for a business setup right now than in the UAE. That’s because the country is on the path to become the fastest recovering economy in the world.
And what better business to start than one that is future-proofed? More and more businesses are heading online during these times. So, you can’t go wrong with a business that is agile, adaptable, and is able to embrace digital and virtual technologies.
Here are some business ideas for 2021:
1. Online Teaching
Schools and universities have been hit really hard by the pandemic. Classes all over the world, including in the UAE, took their learning online. Some students haven’t stepped into a normal classroom since this all began.
During this time, the UAE implemented mandated distance learning. Since then, 95% of schools have implemented online learning. So, as you can imagine, online teaching is a pretty big industry to get into right now. And the best part? It’s also pretty easy to get started. All you need are the qualifications, a laptop, and an internet connection.
2. Online Consultancy
You don’t need to be face-to-face with someone to share your business knowledge, you can easily do it from your computer screen. We already mentioned how schools switched to virtual learning, this is also the perfect time for consultants to capitalize on the virtual world. Consultants can easily offer online services and consultations over the internet with the right license and expertise.
3. Cleaning Services
One thing that ramped up during the pandemic is cleanliness. Sanitation is more important now than ever before. Businesses like restaurants and hotels have had to meet new cleaning standards to make their customers feel safe. So, if you’re able to provide this level of sanitation and cleanliness, then this could be a business that is booming now and could keep seeing growth for years to come.
4. App Development
Apps aren’t anything new, but they saw a surge during the pandemic. People were looking for easy ways to have things delivered, entertain themselves, keep in touch with family, and even get healthier.
Because of this surge, app development has risen in popularity. This can be a good startup idea since low code app development requires minimal coding knowledge.
Today’s consumers are all about repairing their items instead of replacing them. The need for repairs especially spiked during the start of the pandemic when DIYers were stuck inside their homes.
So, whether it’s fixing a broken computer, broken bicycle, or a broken-down car, if you are handy with repairs, then this is a great time to branch out into the industry.
6. Real Estate Business
The real estate industry was booming before the pandemic, and it’s still going strong. Dubai is known for its elaborate architecture and new projects that are underway. This is an industry that could bring in some serious revenue.
While real estate is a big industry, it’s not an easy one. The competition is pretty tough, so you’ll have to make sure to market yourself and find creative ways to come out on top.
7. Job Agencies
There are a lot of businesses in the UAE, so it makes sense that’s there are lots of jobs that need to be filled. But it can be difficult for companies to find professional and skilled employees because of the language barrier. You can easily find employees for them. A job or recruitment agency can quickly be started with a minimal investment.
8. Travel Agency
Dubai is a tourism magnet. Millions of people from around the world flock to the city each year. And while not as many people will be traveling right now, it’s just a matter of time before people need someone to help them plan their trips. You can be that person! With the right license, you can offer trips and provide consultation services.
When you’re thinking of stunning places to photograph, it really doesn’t get much better than Dubai. You definitely won’t find a lack of locations to photograph with Dubai’s vibrant culture and impressive architecture.
Many companies need help producing their digital content, so photography is a pretty steady industry to get into. Just make sure you get all the right permits before you start shooting.
10. Jewelry Design
If you didn’t know already, Dubai is known as the City of Gold. There are many areas that are ideal locations for a jewelry store like Gold Souk, Dubai Gold, and Diamond Park. So, jewelry design and even handmade jewelry are other great business ideas for your company in UAE.
Get Help from Expert Business Setup Consultants in UAE
Are you ready to get serious about your business in UAE? Let us help you make your dream a reality. We are a unique team of business consultants that can help you form your company from scratch and give you the tools you need to succeed. We provide a hassle-free formation and offer other services like product registration in UAE and trademark registration in UAE to make the process even easier. Don’t wait! Contact us today at +971 52 544 1248 for a FREE consultation.