Category: Entrepreneurship

Dubai International Financial Centre – set up in the UAE’s premier financial free zone

Dubai International Finance Centre (DIFC) is located in the heart of central Dubai, making it the ideal hub for businesses wishing to tap into the fast-emerging financial markets of the Middle East, Africa and South Asia. The free zone’s internationally recognised and independent regulation, and enabling environment make it one of the least complex pathways into the heavily regulated financial industries. So, if you’re looking to make an impact in the money markets of the UAE, there are few better places to call home. With that in mind, let’s look at some of the key benefits on offer when setting up a company in DIFC.

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Exit stage left, centre or right? Why you need an exit strategy for your business even before you start

It seems strange to be planning to exit your business before you even get started. But this is something that all savvy entrepreneurs do when preparing to launch a new company. It only makes sense. You owe it to yourself, your employees, and your other stakeholders to have a plan in place for the time when you need to move on. This kind of change, even if it’s a positive move for the business, can be difficult and distressing for people who’ve been with you from the start. So it’s important to start thinking about your options as soon as possible. Here are some of the things you should be considering – even at the start of your journey – in preparation for an exit scenario.

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Setting up an LLC or sole establishment in the UAE: which is right for you?

When setting up in the UAE, entrepreneurs have a number of options. However, there are two main choices here: form a limited liability company (LLC) or set up a sole establishment. The major difference between the two is that LLCs can be formed with multiple shareholders, while sole establishments cannot. This also means that sole establishments have unlimited liability for the owner – which could be very costly should your business run into financial or legal trouble. In this article we look at both options in depth to help you decide which one is the right fit for you.

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Dubai Silicon Oasis – the UAE’s high-tech business hotspot

Dubai has long caught attention due to its favourable conditions for entrepreneurs looking to make it big – but its free zones are truly the jewel in the city’s crown. It’s easy to see why. Benefits like 100% foreign ownership, 100% repatriation of capital, zero income and corporate tax, plus no tax on imports and exports will make even the most hardened business people take a second glance. Take Dubai Silicon Oasis (DSOA), which, along with the headline benefits listed above, also affords business owners a host of support services and an affordable, fast and straightforward setup process. So if this sounds like the ideal environment to launch your company, here is everything you need to know about Dubai Silicon Oasis.

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Fail to scale? 10 reasons why some entrepreneurs can’t grow their business

In a surprising number of cases, it is the business owner who is responsible for the stagnation of the company. The inspiration, single-mindedness, perseverance and attention to detail that breathed life into the business in the first place can become the millstone that drags it down. It’s important, then, for all business owners to be aware of the traits within themselves that can lead to the arrested development of their enterprise. In this article we identify 10 common problems, which, individually or combined, can keep a business forever knocking on the door of expansion but never being allowed in.

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Ready to fly? Why finance can give your startup wings

Gaining traction for a new venture from day one is every entrepreneur’s dream. You want to appear dependable, credible and financially astute. But creating a good impression and appearing established depends as much on having effective, up-to-date equipment as it does on sound financial judgement. One way to ease the pressure on startup budgets and cash flow is by keeping hold of capital and choosing finance, or leasing, for that equipment. Leasing can kick-start a business by giving a degree of flexibility and control, allowing entrepreneurs more room for manoeuvre when new opportunities, or unexpected expenses, arise. In this article we look at why choosing finance options or leasing may help your startup succeed.

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Likeability in business: What is it and where can I get it?

What are the traits required to be a business success? A capacity for hard work, certainly. An appetite for risk, no doubt. Determination and a resilience to set-backs, absolutely. What about likeability? Plenty of entrepreneurs out there will have grown up in the belief that ‘nice guys finish last’, that business is no place for the weak and, therefore, you have to put on a tough exterior if you are going to come out on top. This may have been true once upon a time, but attitudes are changing and the value of traits such as empathy, understanding, and self-awareness is rising all the time. In this article we look at what likeability is in business and how you can achieve it.

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IT consultancy setup in Dubai – we are the MENA’s top tech hub for a reason

Whether it’s the latest developments in hospitality, construction, healthcare or any other industry you care to name, Dubai is well and truly the home of ‘the next big thing’. But it is the emirate’s status – coined by Forbes – as the ‘next big tech startup hub’ that has really caught the attention of investors and entrepreneurs from around the globe. Perhaps more than anywhere outside of Silicon Valley, the technology industry here in Dubai is truly in the ascendance. Support for tech startups from the government, as part of the UAE’s strategy to diversify its economy away from oil, alongside a number of startup incubators (such as In5, Silicon Oasis and i360accelerator) is predicted to help the Dubai tech market top AED 22bn by 2019, according to the Dubai Chamber. So if you’re ready to get your IT consultancy set up in Dubai, below is everything you need to know to get started.

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Setting up a UAE business? Here are seven lessons from the services sector you need to hear

The UAE landscape is looking fertile for small and medium-sized businesses. In fact, some estimates put the total number of SMEs in the UAE at 350,000. Add to that the fact that the services sector in 2014 accounted for 37% of Dubai’s total GDP and it’s clear there are lessons here for any entrepreneur looking to set up in the UAE. So which are the leading service industries in the UAE, and what can future business owners learn from existing SMEs operating in them?

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Setting up a representative office in the UAE – what you need to know

Overseas entrepreneurs who want to do business in the UAE can choose from a number of setup options, with the two most commonly explored being free zones and mainland LLCs. Both have their pros and cons. Free zones offer a host of tax benefits and 100% foreign ownership, but business activities and trade with the mainland can be limited. Conversely, a mainland LLC allows a foreign entrepreneur to trade directly with the local UAE market, but must be established with the aid of an Emirati sponsor who holds a 51% share in the business. What first-time entrepreneurs don’t always realise is that there is another way: opening a representative office in UAE. In this article we explore that option in more depth to help you make the right decision for your business.

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