From its rather humble beginnings. Dubai has come a protracted way in establishing itself because the successful, industrious business center it’s today. This is often due in fact in no small part to the invention of oil within the region. In the mid-1960s which kick-started rapid economic process. It transformed a town from a little trading community into one in all the foremost vibrant social and business locations. It helped the world in precisely 40 short years. Due to multiple opportunities businessmen are now entering this market to do business in the UAE.
When we take a look at how far the town are available in such a brief space of your time. It’s easy to determine why starting a business here is such a lovely prospect to several entrepreneurs. Dubai’s (DED) reports a 13% year-on-year increase in new startups looking to try and do business within the city.
It’s very easy to induce lost within the bright lights, flashy cars, penthouses, and “five-star everything”. It became synonymous with Dubai over the years. It’s also easy to overlook the fundamentals in situ that make this city so attractive for businesses large and little.
Rapid economic process
According to the 2014 Metro global Report, Dubai is that the world’s fifth fastest growing city economy. Once you consider that the city-state was ranked in 18th place the previous year. This is often an enormous 13-point jump – and it puts it way earlier than another major cities. It includes London, which came in at number 26.
The most successful economy within the United Arab Emirates to possess diversified aloof from oil. An enormous array of industries now contribute to the city’s success. With logistics to construction to commerce to tourism to trade – as more and more new businesses. They look to require advantage of the region’s stable and rapidly accelerating economy.
Large, available workforce
One of the largest struggles when initiating any new enterprise is finding the correct people to figure with. Dubai wins again. Its liberal and cost-effective labor laws, together with its desirable working location. It make it both easy and – perhaps most significantly – rather affordable, to recruit employees from almost anywhere. From anywhere in the world. the convenience at which expatriate workers. They frame a staggering 90% of the city’s labor force – can enter and exit the UAE. Also, it makes it easier for businesses to scale their resources up and down as required.
Location, infrastructure, and reputation
Dubai’s location, infrastructure and business reputation – the jewel within the crown of the Emirates. It makes it not only a perfect place to conduct business from. But also an incredibly easy place to draw in business to.
Situated at the guts of the worldwide business behemoth that’s the UAE, businesses in Dubai have unrivalled access to the 1.5 billion strong consumer markets of Africa, West Asia, Eastern Europe and therefore the neighboring Middle Eastern countries. As thousands of recent businesses discover every year, Dubai lies at the gateway between East and West, making it one in every of the foremost popular destinations for trade and investment round the world.
The city’s state of the art transport links – which include two of the region’s largest ports and also the Arab world’s largest airline – also provide outstanding physical links to remainder of the planet, cementing its place at the epicenter of the world economy.
Low barriers to entry and governmental support
Aside from now the skin factors that make a good time to launch a startup in Dubai, the particular mechanics of putting in place a business make it a pretty proposition still.
Registering a replacement business is incredibly straightforward and affordable and might be achieved during a matter of weeks. What’s more, the government’s low-barriers to entry and business-focused policies help to incentivize investment in new businesses, also as facilitate trade links within the Emirates and throughout the remainder of the globe.
In fact, the govt of the UAE places new free zone business center of its plan for long-term economic stability, which is reflected in its favorable business regulations and its state-of-the-art investment infrastructure designed to support small and growing organizations.
Taxation
Finally, it’d be impossible to speak about the advantages of doing business in Dubai without mentioning taxation – or better to mention lack of it. With the exception of the oil and banking industries, corporate tax for businesses in Dubai remains at a flat rate of zero – offering an unrivalled competitive advantage when it involves trading with the remainder of the globe.
Know what you’re entering
Of course, positive economic data in an environment that fosters entrepreneurialism is one thing, but like any startup anywhere within the world it’s vital to possess a full understanding of the intricacies of the market you would like to enter. Many new businesses get off on the incorrect foot by working on the incorrect information. So you’ll must ensure your business plan is viable and you have got an understanding of the legal and licensing requirements of launching your business.
Conclusion
It is important to grasp that why to decide on Dubai for business is that the prime quality of life and living conditions that one can enjoy within the Emirate. Moreover, UN Happiness Index has recently ranked the UAE because the 14thhappiest nation within the world. While enjoying prime quality of life and living standards you’ll be more productive and inspired by the positive environment around you.
There are many other reasons for people to do business in the UAE because it has become one amongst the sought-after places for doing business, working, and living. Expatriates compose nearly 90% of the full population in Dubai, who are immigrants from almost 200 countries of the planet.
