Dubai is one of the most visited places in the world, and has a lot of attractions for the tourists. The second most liked tourist destination in the world, Dubai also is the home of the tallest building on the planet, and the tourist attractions do not even end here.
As Dubai is so liked for people to visit and explore the culture, it also has a lot of business opportunities for people who are eager to expand their businesses to Dubai, or who want to start their business from scratch.
Business ideas to work on
There are many ideas to work on if looking forward to starting a business project in Dubai. The one must always choose the kind of business they already have some experience with. But businesses that have a higher chance of growing can be
- Food business
- Vehicle garage
- Tourism company
- Traditional clothing shops
The kind of visa depends what kind of work you can go into, these listed have been known not to be very complex, and are good for people who are attempting to start a business with no prior experiences in Dubai.
Food business is one of the safest options to go with if starting a new business. Dubai houses people from all cultures, ethnicities and countries. Most of the people that live in Dubai are not locals, so there is high demand for food and many tastes and styles are appreciated. From India, Pakistani, Bengali, English to American and Spanish, all the people appreciate if they can get a food item from their own cultural background.
To meet the demand of so many people, the food industry of Dubai is ever growing and new participants are always welcome to the market.
Having a vehicle garage is also a very profitable business in Dubai. Dubai is the playground for many millionaires and billionaires around the world, among other people, and they like to show off their wealth with expensive cars and bikes. Cars like Lamborghini, Ferrari, Bugatti, Mercedes AMG, Porsche, and many more are liked to be driven around the city.
Such cars are rented and leased in high numbers, so much so that the police in Dubai also drive hyper cars. Thus, the business for the maintenance of such cars is always needed, and if one can negotiate contracts with rental companies, and the banks who lease the cars, good profits can be made in such a business.
Tourism companies can also earn a lot with proper planning, offering cheap tours and good accommodations, providing tourists with guides and making sure to maintain good ratings, as Dubai is a city mainly for tourism, the business would yield some good profits.
Traditional clothing is also liked by the tourists. Dubai is a hub which combines many cultures in one place, and all the cultures have different types of clothing. From embroidery to printings, to the kind of fabric to the kind of stitching done, everything has its unique quality and can sell the same.
Business Structure Planning
After choosing a business, planning the structure is as much as important as working on the kind of idea to work on. Business structure depends if you’re coming from another country and expanding your business to Dubai, or starting in Dubai from scratch.
Business should always have a good accounting structure. One should register the business and make sure all the payments to the people and parties involved are made on time. Rental agreements should be made and no employee who has a visa that certifies them to work in Dubai should be given the job in the first place, such cases would put your business at risk.
You should also apply for a license for your company. Applying for a license is not a very difficult task, and after some verifications, is easily approved by the government too. Opening a bank account for your business is also essential to the business. There are many local and international banks available for you to choose from in Dubai, such as, Commercial Bank of Dubai, HSBC, Citibank and Barclays. You can approach the bank yourself or ask your business set-up partner to do this for you.
Such steps can be taken by someone planning to start their own business in Dubai.
