Small business setup is one of the most opted business setups in the world. For any entrepreneur, this is the stepping stone for their career as it requires significantly less capital, and the profit margin is relatively high. If you’re planning to start up a low-cost business in Dubai, you’re at the right place.
Dubai is one of the most magnificent cities in the world. It’s an Illusion of grandeur and splendor. The Emirate has always been a visionary city that shapes its future. And what once was a tranquil town has emerged into one of the best business hubs in the world.
Businesses and entrepreneurs are flocking from different countries to set up a company in Dubai because of the superb infrastructure and business environment they offer. It is a city with solid business fundamentals and is known for its good business climate.
Why do Business in Dubai?
Dubai has been a commercial hub for decades. Starting a business in Dubai is a cakewalk. Whether you’re looking for a world-class restaurant or a small retail shop, Dubai is the place for you.
There are various reasons why businesses are set up in Dubai.
Dubai’s prime location is one of the main reasons why different countries are attracted to set up companies. It has both seaports and airports, making logistics easier.
● Political and Economic Conditions
The Dubai government is very lenient when it comes to setting up a business. They provide the right political and economic conditions for a company to sustain. They have a long-term vision in terms of business development for the growth of the emirate. Dubai is a haven for both investors and residents, making it one of the favorite place for investors.
Dubai’s infrastructure is one of the best in the world, with an excellent public transport system. In addition to this, they have one of the finest airports globally, which provides world-class service making connectivity relatively easy.
Dubai is a world-class destination with a huge expat population which is why it is a happening destination. The lifestyle is glamorous with the fancy and beautiful places around, which makes it a tourist hub.
● Free Trade Zone
Free Zones in Dubai are demarcated geographical areas within the UAE that holds a special status. These are the areas where expats can invest in a business with one hundred per cent ownership over it and not make an Emirati sponsor. Any company set up in a free zone is also exempted from paying any import or export duties.
● No Income Tax
Dubai does not charge any tax on the individuals’ income, which attracts a lot of foreign investors as they save a lot of revenue. A recently added VAT (value-added tax) that includes only for limited goods and services and is paid at five per cent. No income tax results in more saving, which is why Dubai is considered the best place to set up a company.
Low-Cost Businesses in Dubai
Here we have crafted some of the best low-cost business setups in Dubai, for starters.
Ecommerce is one of the booming sectors in the world since online trading is rapidly growing. Since you only need a website to run your business through an online store, this one of the most exemplary low-cost business ideas in Dubai. A high margin of profits is generated online since you save a lot of time, energy and money. You could reach out to the world audience through an e-commerce sector.
Advertising is a business with low investment but high profits. Infrastructure and location is a must for advertisement, which is why Dubai is the place to be. The type and services offered should be decided before establishing the business.
● Event Management
Event management in Dubai is a way of outsourcing occasions that may be beyond the scope of business. Event management is using organizational skills to plan events, meetings, weddings and other functions. With the current increase in population in Dubai, there would be a rise in the events, which is why this sector is a good option for business setups. This sector has a growth rate of 25 per cent per annum since 2013 and is growing tremendously since then.
● Grocery Retail
Grocery is a market that is rapidly evolving in Dubai. With the upcoming EXPO2020 grocery retailers in Dubai can increase their presence and business since it attracts a lot of foreigners. Here the cost of operation is meagre, but the profit margin is high, which is why this is a suitable low-cost business set up in Dubai for any investor.
Advantages of Low-Cost Business Setup in Dubai
To know the businessmen inside you setting up a company is the decision. Business is a platform where you can put your innovative skills into play and be your boss. For starters a low-cost business set up would be a great idea and here is why,
● Low Risk
It is an investment in which there is a low probability of losing your money. But if invested at the right place, the amount of profit margin can be relatively high.
Everybody wants to be their boss, and this is a known fact. This can be achieved by opening a small business at first and growing and expanding it at the owner’s will to make profit margins.
● Market Response
A small business can act faster according to the market changes than a large business. Small business owners can provide goods and services to the consumers faster than that of a large one according to market needs. Consumer satisfaction is a must for any business to thrive.
Finding a suitable place to start a business is hard, but small companies are more accessible and flexible. It can be created almost anywhere in terms of small business as compared to the big fish. And the rules and regulations are also lenient compared to more prominent companies, making this easier and time-worthy. A small business has better control of the business’s functioning and client interaction than a larger one.
● Low Investment
Allocation of money in the expectation of future benefits is an investment. Like any large business enterprises, the small business establishment does not need a large amount of capital to be established. Like they say, “great business starts small.”
If you are looking to setup a low-cost business in Dubai or UAE, then Commitbiz Business Setup Consultants in Dubai can assist you with it. Right from business incorporation to office space, everything is covered.