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Top 5 Business Opportunities to Start in the UAE
With the favorable business environment, in-demand services and goods, high purchasing power, and tax policies that significantly facilitate the operating of numerous businesses in the UAE for foreign investors and entrepreneurs, it is the best time to launch a UAE business. A huge number of potential customers and its strategic location connecting Africa to the EU and Asia have made the UAE one of the world’s biggest business hubs. All these factors considered, here are the top five business opportunities that have recently emerged and are tailored best for expanding or launching the business of foreign entrepreneurs in the UAE:
Digital Markerting and Advertising:
It is no secret that for a business to thrive and expand, social media presence and networking are two decisive factors. Marketing and advertising agencies are providing solutions to numerous companies and businesses launched every year in the UAE and are incredibly in demand in the region. These agencies mainly focus on connecting the companies with their potential customers.
IT services, mobile app development, website development:
These services have thrived significantly in the last decade as all sorts of transactions and application submissions in companies or organizations at various levels have become digital. In the UAE, these services are of high importance as most of the residents are expats, and are classified as the working class with limited time for shopping or daily tasks. Dubai alone has been listed as one of the top smart cities in the MENA region. Thus, from online security to online marketing, IT services of various kinds are quite lucrative in the UAE. Nearly all operating sectors in the UAE offer IT experts jobs to create new technologies or improve their online security level.
Business consultancy firms:
As mentioned above, numerous businesses and incorporations are being launched every year in the UAE. These businesses or companies are often established by foreign investors or entrepreneurs who are attracted by the favorable business environment of the UAE. Although registering a business or corporation in the UAE is almost online and straightforward, preparing the documents and realizing the kidneys of licenses a business would need at the beginning can be tricky. Thus, consultancy services that can facilitate and clarify the business registration process are highly demanded in the UAE. Launching a business consultancy firm requires several licenses to function legally.
With too many businesses and companies being operative in the UAE, financial services such as auditing, bookkeeping, and accounting are highly demanded. In this category, focusing especially on startups covering financial services or small companies offering financial services can bring in more profit than competing with international, huge companies offering financial services of all kinds. A startup for this purpose does not require much capital but needs to obtain the necessary licenses and credentials for launching the business.
The majority of the UAE population (approximately 85%) consists of expats who require various educational services for their children or for obtaining higher education degrees. The firms and institutes that offer educational services in many languages are more successful because the UAE is already home to people from multiple cultures. Also, for offering education services in the UAE, special certificates and licenses are required. Unless the educational services are offered by purchasing a franchise, it needs a physical space to be affiliated with the UAE business. With E-learning and distance learning becoming more popular, implementing initiatives that cover these educational methods can also be highly lucrative.
Our team of Business Setup Experts can guide you on obtaining your professional, commercial or education licenses from either Dubai Mainland or Free Zone. Call +97155 233 0077 to schedule a free consultation.