Category: Startups

Startup and beyond – evolving your business venture into an SME

There are few better places to start a business venture than the UAE. But once a businessperson has established their enterprise here, what next? One path is to take the next step and start looking to turn your startup into a small or medium-sized enterprise (SME). It may feel like a big leap of faith, but it’s a logical way to push your venture forward, increase sales, and secure your business’s future. In this article we look at some of the facts surrounding startups and small businesses in the Emirates.

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Market research on a tight budget – why it’s a must-have investment for any startup

For any business it pays to know your market – especially for a startup. Whether you’re trying to assess the level of market demand before releasing a new product or service, choosing the best location in which to sell, or simply trying to understand what factors will influence customer spending, market research is the only way to truly understand your customers’ needs and expectations. Yet market research might strike you as a time-consuming and costly investment, reserved for larger companies with huge research and development budgets. Actually that couldn’t be further from the truth. In this article we look at some of the most important ways that companies leverage market research and how it can be done on a tight budget.

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In or out? When is outsourcing right for your company?

If you want something done right, do it yourself. It’s a well-used business maxim. After all, nobody cares for your business as much as you do. But what happens when things get too much to deal with on your own? The challenge of overseeing a thriving, growing business is a nice problem to have. But you can’t be everywhere at once. So how do you get more person-power on board? Of course one obvious route is to hire additional staff. But another option is to look at which parts of your operation you could be doing elsewhere. Outsourcing is growing but if it’s not done properly, or your suppliers fail to deliver, you risk damaging your reputation and your business.

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How a directorship service can smooth the launch of your UAE company

As of July 2015, an update to the UAE’s federal Commercial Companies Law (CCL) states that LLCs in the Emirates must be at least 51% owned by UAE nationals. That gives incoming company owners just a small handful of options: relocate, scout for a domestic partner or joint venture arrangement (and thus dilute your shareholding), or secure the services of a professional director. A professional director can help a fledgling company in the UAE to get established and increase its chances of success. In this article we look at it more in depth to help you decide whether it’s the right path for your business.

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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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Puzzled by the legal jargon? Here’s what to include in the Memorandum of Understanding (MOU) between you and your local sponsor

Any new business requires some guidance through the paperwork when starting out, but for companies setting up in the UAE mainland, there is one particularly important document that really should receive your full attention: the Memorandum of Understanding (MOU). This agreement wields the power to figuratively ‘make or break’ an emerging business. As with all commercial paperwork, MOUs can be prone to the confusion of jargon and legalese – but there is no need for this. The best MOUs keep things clear, concise and easy to understand. In this article we take a closer look at what this document is and the essential points it ought to include.

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Burning out? The strategic importance of a work-life balance for entrepreneurs

Burnout is a term used to describe a particular feeling; a tiredness that isn’t resolved by getting a good night’s sleep, an exhaustion that sinks into your bones. Entrepreneurs are well known for the long hours and hard work they put in to establishing their businesses, but a growing body of research shows that there is a price to pay – and it can be severe. A 2015 study carried out by the Australian Institute of Business specifically into stress-related issues experienced by solo entrepreneurs found that 87.5% are being prevented from thinking clearly and completing work quickly, due to stress and fatigue. But successful startups are hard to operate, and without looking out for the signs of burnout and knowing how to deal with them, can you succeed?

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Tell tale signs you cannot handle your company’s finances

Every entrepreneur needs finance skills. But not every entrepreneur has them. Most entrepreneurs will have bags of acumen and expertise in their chosen sector – if they didn’t they wouldn’t be there in the first place. But managing a startup’s finances often proves to be one of those things that is learned the hard way. To be clear: cash flow can be used to predict the success of a business in 83% of cases. So what behaviours, tools and techniques can you use to help you move in the right direction? 

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Are managed office spaces the smarter choice for your UAE startup?

Choosing the right office space or working environment for a startup is on the list of essentials and a ‘one size fits all’ approach simply doesn’t work here. Recent years have seen a real shift in the way we work and how office spaces are perceived. The rise of the managed office has been a slow and steady one but these days many businesses are reaping the benefits of this style of working environment. But what are the real benefits of opting for this type of office when starting a new business?

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LLC company formation in Dubai and the UAE: Everything you need to know

Setting up a company anywhere in the world can be daunting, and the UAE is no different. While the business landscape here in the Emirates is certainly accommodating, the various types of companies that may be set up here can seem a little confusing, particularly for first time entrepreneurs. Today we look at one specific mainland option – the LLC. The LLC is the most common type of business in the UAE, an independent legal entity owned by multiple shareholders, established on the UAE mainland. It has low startup costs and full access to the wider UAE marketplace. If that sounds like you, here’s everything you need to know about LLC company formation in Dubai and the UAE.

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