The recent amendments in business laws in Dubai have met with a favourable response from entrepreneurs all over the world. For the uninitiated, the requirement for having a local sponsor in order to start a business in Dubai has been abolished now. This means one can fully own a company in the emirate without getting a local partner on board.
Having said that, it’s still not very easy to set up a company in Dubai. The entire process entails numerous challenges, and add to the fact that the corporate market here is competitive, making it difficult for new businesses to survive. However, if you are dedicated and motivated enough, you can become a successful entrepreneur in Dubai.
Among the many challenges entrepreneurs face, finalising a business idea that has enough potential to generate fruitful results is the major one. And this is exactly where we are going to help you. Here are five business ideas that can help you realise your dream of becoming an entrepreneur in Dubai:
1. Property Business
If you have sufficient capital, consider buying property in Dubai and then selling it at a higher rate. You can also get a loan from the bank for the same purpose if you’ve been living in the emirate for some time and have maintained a decent credit score. This way, you’ll still have some money to fall back on even after you have started the business.
There are different types of properties to choose from if you’re investing. However, selecting a villa for sale in Dubai can yield better results, since bigger and spacious properties are having a high demand in the emirate as evident in the recent property trends.
2. E-Commerce Solutions
Online shopping was considered a norm in Dubai even before the onset of COVID-19. However, due to the pandemic, more and more people started to buy things they require online. This resulted in the rise of demand for e-commerce solutions.
You can leverage this situation and set up an e-commerce store or provide e-commerce solutions to customers. Both these options come with many perks and are expected to grow substantially in the time to come. What’s even better is that setting them up isn’t exactly very difficult.
3. Travel and Tourism Company
Dubai is known as a major tourism hub in The Middle East region. There’s so much to explore and see in this beautiful city, filled with marvellous sights, attractions and world-class wonders. It receives a huge number of people every year who visit Dubai solely for the purpose of vacationing. Therefore, setting up a travel and tourism company here makes perfect sense. However, again, you’ll need to get the necessary certification in order to do so.
4. Real Estate Agency
The real estate sector happens to be one of the most profitable industries in Dubai. A lot of people regularly buy and sell properties here, and for this, they need the services of a real estate agent or a property portal. Leading property portals in Dubai, such as Zoom Property, are earning a lot through this business. They offer their customer robust real estate solutions and earn commissions from them. These portals also facilitate tenants and sellers.
You can also set up such a business or become an agent in Dubai. However, you’ll need to do ample market research before starting. Also, necessary certification and licensing is required from authorities to be eligible to set up a real estate agency.
5. Digital Marketing Agency
No matter where in the world you’re located or planning to set up a business, setting up a digital marketing agency is going to be the right option. With the whole world going digital now, this business niche has lots of potentials to be unleashed and untapped.
Nowadays, it’s common for everyone to conduct a quick search on Google when they need any sort of information about any product or service. Even when people look for property for sale in any area, they take the help of the internet before hiring a real estate agent. This is why more and more companies are now hiring a digital marketing agency to target the rising number of tech-savvy users.
Through your services, you can help other firms in creating a strong online presence and gaining more prominence in the digital world.
The Way Forward
No matter which business idea you have selected, always remember that you will face abundant challenges when pursuing it. You can hire business consultancy services in Dubai, and they will take care of all the obstacles and challenges that come in the way of setting up a business.