The city of Dubai is known for its massive economic activity and wealth.
There is no doubt as to why the world’s top entrepreneurs and business professionals flock here. It is the community of entrepreneurs who are driving the city forward through bootstrapping. The UAE is close to both east and west markets and has a 0% tax rate, making it the perfect place to do business.
Despite this, a city’s ideal location does not have to be limited to big businesses. There is also an extensive network of entrepreneurs, freelancers, and SME companies in the UAE. At the heart of the vibrant lights and towering buildings is a community of entrepreneurs who are bootstrapping their way to success.
Have you ever wanted to start your own business in the UAE but lacked the necessary funds? We can recommend a few solutions for you if you have a great business idea and a firm resolve to attain your goals.
Starting A Business In Dubai
There are numerous thriving industries in Dubai. Apart from the obvious opportunities, like oil & gas or financial services, many other exciting businesses can be started by ambitious entrepreneurs.
You should consider your background, skills, and passion when selecting a business to launch in Dubai. There is everything to choose from here, from health care and tourism to film production and new media.
You should first ask yourself – what is my passion before choosing a business to start in Dubai? Which of my essential skills do I possess? Is there a problem I can solve?
After answering these questions, you can start aligning your circumstances to the opportunities available. Budget is another important consideration here as well. Starting a business with AED 10k or AED 10m is possible.
Do not worry if your budget is limited. Dubai and the more comprehensive UAE offer many low-cost business opportunities.
Dubai Business Ideas With Low Investment
What’s the best way to start a business in Dubai without investing any money? Is it possible to start a business in Dubai for a relatively small investment? There’s no difference between setting up here or anywhere else in the world if you don’t spend time.
Pet Care Business
There are now more UAE residents who own pets than ever before. As a nation dominated by expat workers, those pets need to be cared for while their owners are at work. Pet sitters simply care for pets in the owner’s home while working, going on vacation, and on a business trip.
The owner must feed, walk, and care for their pet while they are away. It is possible to charge about AED 80 for a home visit (which usually lasts about 30 minutes).
One of the great things about pet sitting is that it requires very little capital. An animal lover and a willingness to travel are all you need. If you want to market your business on social media, you can post free ads in many classifieds.
Education / Tutoring
You are likely sitting on a low-cost business idea if you already have a skill that others might like to learn. There is no limit to what you can teach – instruments, languages, martial arts, illustration, crafts, or academic subjects like math, science, or English.
The investment required here is minimal. You can start as soon as you have the skills, knowledge, and, if required, qualifications. You can advertise your services on many dedicated websites such as my private tutor. Ae for a small commission.
You may already have familiarity with business consulting, as you can provide tutoring services. This means you’ll need to spend a little to get started – get your license, build a website, print a few business cards, and you’ll be good to go.
A business consultant doesn’t require years of experience, contrary to popular belief. Consider your career achievements: Have you experienced the startup stage of a business? Do you have any experience with mergers or major acquisitions? Perhaps you have experience in finance, HR, or marketing. You are almost guaranteed to have a market for your advice if you have experience in business that startups can learn from.
There are no longer only the wealthy who can afford residential cleaning services. Expats in the UAE today are rarely time rich but usually cash-rich – so why do my chores when I can pay someone else to do it for me?
The startup costs here are minimal as well. It only takes a positive attitude and a few cleaning supplies to get started. Your services can quickly become recurring revenue if you offer weekly or monthly packages. As your business grows, you can even offer commercial cleaning to increase your prices.
Web Design Service
There is one element that all of these business suggestions have in common – they all require a website to showcase their products. The 20,000 new business licenses issued in Dubai every year present an opportunity for any entrepreneur skilled in building websites.
You don’t need to be an expert in web design to get started. It is possible to learn WordPress and other modern tools and templates quickly if you are willing to spend time and effort. Once you acquire the skills needed to get started, you can gradually expand your skills to include sites other than templates if you desire.
Social Media Specialist
It is now rare for a business not to be on social media. Consumers often use these websites to research new services when they hear about them for the first time. Nevertheless, many small businesses lack the time, resources, and skills to manage a successful social media feed. In response, social media experts are now offering to manage social media accounts for businesses for a fee.
There are practically no costs associated with setting up a new business here other than licensing. To participate, you need a laptop and an internet connection, which most UAE residents already have.
Market analysts believe that e-commerce will grow rapidly over the coming years. According to Alpen Capital, online retailing represented just 1% of total retail sales in the GCC in 2015. Untapped markets like that are enormous. It’s also very accessible. E-commerce licenses are both easy to obtain and affordable in the UAE. Alternatively, you can do business from outside the emirates.
Moreover, starting small and growing is easy. If your business grows, you can move to office space or even a warehouse as you expand. It only takes a laptop, the internet, and something to sell!
HOW TO START A BUSINESS IN DUBAI
You must obtain a license before starting any business. Costs play a role here. It’s minimal, but do not worry.
Using the assistance of a company formation expert can greatly reduce the cost of setting up your business in Dubai. Steps you need to follow include:
Licensed activities: The activities you intend to perform exactly match those you hold a license for. businesses in Dubai conduct a variety of activities. Your business will determine which activity or activities you choose.
Choosing a company name: The UAE’s naming requirements should be followed when choosing a company name. Any reference to Allah or Islam in your company name is prohibited, as well as offensive or blasphemous language. Your company name must include your full name rather than your surname or initials. Also, make sure the name you choose is available for registration.
License obtaining: A business consultant can handle the entire process for you, liaising with the governing authorities.
Visa application: You will need to provide biometric information at an immigration center. An examination of your fitness level, a blood test, and a chest x-ray are also part of the visa application.
What Are The Advantages Of Starting A Business In Dubai
Developing businesses in the UAE is a virtually unlimited opportunity for entrepreneurs.
Here are some reasons;
- It is easy to repatriate your full investment, and there is no currency control.
- Taxes are practically nonexistent. Generally, if you do not operate a bank, oil company, hotel, or commercial real estate business, you will not have to pay income taxes.
- Companies in Australia may be able to get financing from international banks if they meet all requirements.
- Even entrepreneurs without much experience in business can register a company, obtain a license, and open a bank account.
- The foreign owner of a company does not have to share profits with the local sponsor.
The country has developed infrastructure, modern office and warehouse space, and excellent transportation links with the rest of the world, in general, excellent business conditions.