What Does It Take to Be an Entrepreneur in Dubai?
Dubai is the ideal place for startups and entrepreneurs. With its accelerators and strategically designed opportunities for companies, the advantages of registering your company in Dubai are numerous. As the wealthiest city within the Gulf Cooperation Council, Dubai is perfect for any sized business.
What makes Dubai suitable for your company? Its attractive location in the Middle East, in addition to its wide range of benefits that cater to the startup circle are just some of the many perks that Dubai has to offer. Here are some of the other benefits:
What makes Dubai suitable for your company?
World Class & Leading Infrastructure
Local & International Trade Practices
Locally based Incubators & Accelerators
Locally based Investors outreach
Easy approach to Company Formation and Set up
Over 30 Free Zone locations in Dubai
For entrepreneurs with solid ideas and a drive to execute, joining the economic growth that the country is experiencing may seem like a no-brainer. However, due to the fact that Dubai is the ideal place for many, competition is fierce. So, what does it really take to be an entrepreneur in Dubai?
Here are some of the top nominated skills that every future entrepreneur should keep in mind:
Networking, Relations, and Sales
The company mission, vision and goals are basic guidelines and measures that almost every company formation structure falls under and are important, but what mainly prolongs the longevity of any organization, regardless of its size, is sales. Investors and big time entrepreneurs alike all believe in one motto: Sales Cures All. Invest time in networking and building relationship pipelines in order to keep your organization alive and healthy.
Stay focused, dedicated and stick to the business plan
Entrepreneurs tend to drift off their business plan and replicate a pre-existing business model with the assumption that because the business model worked for another company, it will yield similar results. However, that is not always the case. Staying focused and patient are the most difficult elements to factor in when things start to drift downhill, as it’s the way of the market. Situations tend to deteriorate during off seasons and maintaining a focused, sustainable business plan path is the key to overcoming it and remaining afloat. The key is crunching your budgets, staying focused and expanding your reach.
Work Hard & S.M.A.R.T:
Working hard and putting in the hours is key; running your own show does not entail clocking out at the end of the day. In reality, even your free time and time off the clock must be dedicated to networking, which will lead you closer to a deal. This even includes weekends and nights. However, working hard is not all it takes; there’s another part that’s equally important, being SMART:
Specific: Your objectives need to be specific and described positively to the public.
Measurable: Every achievement, goal and anything in between should be measurable.
Attainable: Attractiveness is key to the team and your clients; be attainable at all times.
Realistic: You are not the only one of your kind that offers your service, so you have to be realistic and up to date, watching out for competition at all times.
Time-Bound: How else can we measure profit if tasks are not timed? Tasks should be monitored and timing can make all the difference in winning.
Building a sustainable, homegrown business is highly desired by investors, banks, clients and customers. It’s not the ideas that make organizations the “best”; instead, it's the execution of building a reputable and honest brand image. It can be hard, but stay focused on your goals, respect competitors, and be open to ideas from employees that can help your organization grow and advance. Implementing such behaviours in your company will give you every chance to lead within your industry.
At Europe Emirates Group, we encourage entrepreneurs to set up their companies within markets like Dubai in order to take advantage of tax benefits and reach new markets within MENA. Assistance with setting up and forming a company are specialities that define our European standards in incorporating all industries to the United Arab Emirates.
CEO, Europe Emirates Group