Congratulations to the leadership of the UAE, the Emirate of Dubai and all those responsible in delivering a successful bid to host the World Expo 2020 in Dubai. It certainly cements Dubai’s place as an international city, if there was ever any doubt that it was not already.
As we wrote in a recent article, the 2020 event now sets reasonable certainty for Dubai in terms of its strategic plan for infrastructure development in the medium term. For those that fear an economic hangover at the end of the Expo, we should not forget the FIFA World Cup being staged in Qatar in 2022, which should ensure a healthy tourist inflow for that event for those who will choose to stay in Dubai and travel to Doha for specific games.
Large scale infrastructure spending will provide significant non-oil sector economic growth in the period leading up to 2020 in the UAE and there will certainly be many opportunities for businesses to be created to take advantage of this.
Starting a business can be a challenging task anywhere but especially here in the UAE. There are numerous options when it comes to where the business should be established, which have their own benefits and challenges. A wrong turn at the registration step can be costly both economically and practically for operations.
Funding a new business has its own challenges here and you should be expecting to provide most of the start up capital of the business yourself, given the scarcity of new start up capital from third parties, especially banks. Knowing how much funding you need is also vital and you will be surprised how much you actually need to support not only your new business, but also your personal life if you are leaving a job to start a new venture.
The challenges to new start-up’s go on and on and if you are not prepared for these challenges, or worse are not aware of them, then the exercise can be a costly one if not managed properly.
At TLB Business Advisory Services, we have a wealth of knowledge assisting businesses to start up and manage their costs in the early stages. Our structured advice will get you through the planning and development stages of the business, registration, initial and ongoing operations to ensure that the new business has every chance of success. Our advice is also UAE and Middle East focused with our staff individually having in excess of 13 years in the region with practical knowledge of actually starting and running both simple and complex businesses.
To find out more on how our Business Establishment Services can be tailored to deliver benefits to your new business, contact us at firstname.lastname@example.org or telephone in Dubai on 04 3609477.