With its fast growing economy that keeps on growing until this day, UAE is without a doubt an ultimate destination to start your business. And the reason behind that is not only a consequence of the flourishing economy, but the country gives entrepreneurs a lot of opportunities and benefits that facilitate the process of having a business in it. In fact, UAE leads the Arab countries in the World’s Bank Ease of Doing Business Report for 2018 and ranked the 21st among other global countries. The facilities that UAE offers its entrepreneurs are endless, starting from the variety of zones that you can start your business at, the availability of a huge workforce, the flexible policies, the financial privileges and a lot more. But what are the types of business that succeed in the UAE?
In fact, being the stable economic country that it is, and an attractive hub for tourists makes UAE the ultimate haven for various types of businesses. And thus, below is a list of the top 5 businesses that can have a great potential to grow and succeed.
Shopping is one of the main reasons why people travel to Dubai. The Emirates alone has around 70 shopping malls making it an irresistible shopping destination. Dubai is also known for its bazaars, so having your retail shop can be a very promising business in Dubai. Online retail is also very common now in Dubai and can actually save a lot of costs such as the rent cost. You will however, need to invest in having a website and a delivery service. And if you decide to do a retail business in Dubai in general make sure to study your target market and know your competitors well.
Food and Restaurants
Another reason that tourists from all around the world travel to Dubai is to explore the variety of different cuisines in the city. Having your own restaurant or café in Dubai can be a great investment, however in order to guarantee the success of your restaurant you will need to carefully choose its location and the type of food that it will serve. You will also need to study your competitors well and to find an edge for your venture.
Real Estate is one of the most promising businesses in the UAE. With the vast number of projects being constructed in the country, this industry is expected to boom within the next few years.
Opening a daycare business in Dubai or in the UAE in general would definitely be a lucrative business, and that is because both spouses of the majority of couples in Dubai are working and are always considering safe entities that would accommodate their children.
Trade is with no doubt one of the most successful industries in the UAE. In fact, it is of the main reason for its flourishing economy. The options of trading in the UAE are endless, including eateries, furniture, jewelry and automobiles to mention a few. Dubai’s strategic location between the east and the west also makes it ideal for import and export businesses.
These are only some of the businesses that have a great chance of growing in Dubai. The list however goes longer. What is important is that you plan your business well and take the right decisions such as choosing the location and the type of your company when you are setting up your business. Global Link can consult and assist with any matters regarding your business formation in the UAE. Contact us now and let us provide you with all the assistance you need to set up your business and help it bloom.