Entrepreneur vs solopreneur: Who will win the business race in the UAE?

With low tax requirements, simple setup solutions, established infrastructure, and a whole wealth of government support, it’s plain to see why so many choose to start a company in the UAE. Choosing the right startup style, however, is critical; you must decide whether to be an entrepreneur or a solopreneur – a manager of a business, or an individual specialist. While the two share common traits and advantages in business, the mindset of one is very different to the other. But is there really much difference between being an entrepreneur and a solopreneur? Let’s break it down and see.

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9 reasons why Virtuzone is the UAE’s No 1 company setup specialist {INFOGRAPHIC}

Offering a wide range of company setup options through a diverse and multilingual staff, Virtuzone has been helping clients set up their very own UAE companies since 2009. For a multitude of reasons, we are the UAE company setup partner you need.

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What is Dubai Creative Clusters Authority – and how can you set up your company there?

The UAE’s free zones are popular with entrepreneurs from every corner of the world. A quick glance at the benefits on offer and it’s not hard to see why they grab the attention – zero corporation and personal tax, 100% company ownership, 100% repatriation of capital and profits, no currency restrictions, and 100% import and export tax exemption. For businesses in the creative industries – those that use intellectual capital as their primary input –there are even more benefits on offer thanks to the Dubai Creative Clusters Authority (DCCA).

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Have you got what it takes to move your business to the UAE mainland?

Many entrepreneurs establishing a business in the UAE for the first time choose the free zone option for the obvious benefits of 0% tax for the first 15 years, 100% ownership of the business, and no foreign exchange controls. And there are numerous fantastic free zones in the UAE offering plenty of opportunities for foreign businesses. However, a mainland business might just be a great next step for those entrepreneurs hoping to scale up their business fast. If that’s a move you’re considering, here’s our guide to making the successful transition from free zone to mainland.

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Does a shorter working day really deliver benefits for your business?

The rising call for shorter working hours is a global phenomenon. But as entrepreneurs and business owners, the question we might ask is whether adopting this practice really provides tangible benefits. The western world is no stranger to shorter working weeks, especially in the face of dire economic crises. But in today’s world, is there a business case for shortening the working day? Could the potential gains in increased productivity and improved employee health from a six-hour day, for example, more than offset a reduction in working hours?

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Startups are not forever – understanding what your business is, and what it isn’t

In an enterprise hotbed like the UAE, where new businesses are launching all the time, the term startup can be misleading. Because while all startups are new businesses, not all new businesses are startups. This may seem pedantic but there are some essential differences between starting up a small business and launching a startup, and when it comes to defining your business, it helps to know what they are. Aside from the level of risk and growth potential, there are some practical differences that will affect the way you go about launching a startup as opposed to starting a small business. We look into these differences in more detail.

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