The ‘City of Gold’ Dubai is not just popular for shopping and tourism, it is now the most suitable business center in the world for trillions of dollars and investments. It is in the heart of the Middle East, Europe, Africa, and Asia. Its strategic global location, fusion with business-friendly policies, and top-notch infrastructure, have made Dubai a leading global business powerhouse. Due to the Russia-Ukraine war, many investors are also moving from the EU to Dubai as a potential business hub from 2024 onward to do business in Dubai.
2.5 billion people live within a four-hour flight from the city. More than 5 billion live within an eight-hour flight. That means a vast customer base the city has worldwide for its location and infrastructure facility. Till May 2023, the Dubai population stands at 3.57 million according to the official statistics by the Dubai Government. Most of them are young and enthusiastic.
Besides oil, gold trading, and natural gas, Dubai makes money mostly from tourism and public & business taxation. Except for those, what business could boom in Dubai in the coming days?
Real Estate Business in Dubai
Sharjah’s real estate sector records $654 in property and land transactions in May 2023. Said the Real Estate and Mortgage Report issued by the emirate’s Real Estate Registration Department (SRERD). It’s indicating that the real estate business will go further.
The statistics showed that the total number of transactions executed during May reached 3,540 transactions. There is an increased level of demand for housing in the various regions and areas of Dubai. As people now travel more frequently, the city needs more nice and beautiful houses to accommodate them.
Dubai’s Government makes the policies business-friendly day by day. Hopefully, more investment will come to build the skyscrapers.
Undoubtedly the tourism sector will flourish. Thus the food and restaurant business in Dubai too. Because people don’t bother much to spend on food when they are on a trip with family and friends. In fact, they search for something new and unique.
5 million+ tourists travel to Dubai in a year, according to ‘Arabian Business’ insiders. The city also has almost 4 million people. It is obvious that the food and restaurant business will boom. But, here you must have to target a class of people, select a prime location and carefully set your menu.
The prime locations for restaurant business based on customers in Dubai are-
- Dubai Creek
- The Mall of Emirates
- Emirates Hills
- Al Quoz
Business Consultancy Service
As per the Global Entrepreneurship Index, UAE recently ranked first in the world to start a business. This is due to the opportunities, skills, education, access to finance, and support that the country offers to investors and entrepreneurs.
With its strong infrastructure, Dubai government provides cordial support to set up a new business. Further, UAE is aiming to nurture 20 start-ups valued at over USD 1 billion by 2031. Speaking on Entrepreneurial Nation, an initiative that supports start-ups through a series of public-private partnerships, Ahmad Al Falasi, Minister of State for Entrepreneurship and SMEs, shares, “The idea is to help entrepreneurs expand their businesses, export their products and tap into online sales.”
To this effect, the UAE has set aside a USD 272 million private equity fund for SMEs based in the country operating in strategic sectors.
That means Dubai to fetch a huge number of entrepreneurs and investors shortly. They will must be needed a business consultancy service as it is already a ‘Red Ocean’ for business. So, besides your current business, you can start a business consultancy firm to help people and earn more.
Brand Your Company
These three businesses are most prominent in the coming days to boom further. There are many more scopes that you can check. But for all businesses, one thing is common to be successful that is ‘branding’.
Some branding strategies that may help your company to get visibility-
(The last one is the most interesting, keep reading.)
Build a strong online presence.
Dubai is a tech-savvy city. Everyone has a smartphone in hand. People easily turn to the internet to search for products and services. If they find a positive review and a good presence in online, naturally they will get inclined to buy or take your service.
So,having a strong online presence through social media (LinkedIn, Twitter, Tumbler, Instagram, and Facebook), search engine optimization, and online advertising can help you reach a wider audience and generate more leads.
Make a standard AV
Short and smart video with the right message is a strong branding tool nowadays. It shows the class of a company. You can attach a person emotionally or purposefully through the video message.
Besides this, now YouTube Shorts, and Facebook Reels are also very popular. So, set your target people and start promotion!
Attend business networking events.
Dubai is home to a thriving business community. There are numerous business and networking events take place throughout the year. Attend these events to meet potential customers, partners, and investors. Bring them into the personal pool and pursue a decision.
There are many more ways to brand your company and services, but vehicle branding is most effective in a city like Dubai. 4 million people live in the city and daily around 15,000 people visit the city as tourists.
On average, a vehicle takes 11.30 minutes to travel 10 KM. It is said that a vehicle gets 30,000 impressions in a day on Dubai road. This is just a thumb rule, it might be more or less.
So, by covering the vehicles with an eye catchy and standard design with the right words and punch line, a company can do branding effectively to attract people physically. Interestingly, physical branding creates more impressions on the human mind.
For vehicle branding, approval is needed from the Roads and Transport Authority (RTA). To get RTA approval, proper guidelines are needed from expert!
Printajo is the most trusted and expert Advertising Agency in Dubai. They offer a wide range of services and products for signage and vehicle branding. Their expert team is very much professional to cater to customer demands. They are just one phone call away from you!
Let them take the hassle for you to take the RTA approvals, prepare the contents and make the exclusive designs to brand your company. Printajo already has 150+ happy customers and welcoming you to brand your company through Printajo!
General Guidelines to Start a Business in UAE
The process of establishing a company in the UAE involves only a few simple steps, in all seven emirates. You can apply in person at the Department of Economic Development in the emirate where you plan to establish a business. Additionally, digital platforms are available to obtain a commercial license and establish a company online where applying the necessary documents will lead to a license within minutes. Investors can also apply through legal offices or designated companies offering business establishment services. Establishing a company typically involves identifying the location, specifying the nature of the business and paying ascribed fees, for the issuance of a commercial license.
Steps to Establish Your Company in the UAE Mainland
- Identify the nature of your business activity
- Determine your company’s legal structure
- Register the trade name
- Apply for initial approval
- Create a Local Service Agent Agreement (LSA) or a Memorandum of Association (MOA)
- Choose your business location
- Apply for additional government approvals
- Submit required documents
- Pay fees and collect license
- Register your company with the Chamber of Commerce and Industry
Steps to Establish Your Company in the UAE Free Zones
- Determine the nature of your business activity
- Determine your company’s legal structure
- Register the trade name
- Select business space and location
- Obtaining the initial approval
- Registration and payment of fees
Take a tour on our Blog on 8 Reasons why you should Start a Business in Dubai