20 Oct Top 10 Business Ideas in Dubai
Dubai’s business environment is famous all over the world as well as an amazingly attractive tax regime zero percent on both personal and corporate incomes. The emirate is located in the perfect global location from which to trade with Europe, Asia, and North Africa and beyond.
Dubai is also acknowledged to be a hospitable environment for entrepreneurs with many encouragements and incubator schemes available to assist startups to thrive and grow. The emirate also habitually ranks within the top ten in the World Bank’s ease of doing business index. No doubt such an environment is home to great opportunities in everything from trading to tourism.
Consequently, if you’re looking to initiate new business in Dubai, here we are discussing 10 best business ideas in Dubai for your consideration.
The UAE has more food and beverage channels per capita than anywhere else in the world. However, don’t let that put you off. The Emirates and Dubai in certain have a ravenous appetite for eating out. Around a third of residents eat out on average at least two to three times per week. What’s more, 17 percent eat out or order takeaway every single day.
This is one of the low-slung investment ideas on this list. You don’t require a massive initial amount to satisfy the appetite of Dubai’s army of diners. You could open a food truck, market stall or cafeteria.
- Events Company
Dubai is a global events center. In total, the emirate’s events industry is estimated to be valued more than AED 165m (USD 45m). This is only set to rise with Expo 2020 on the horizon. The chief event of this type is to be held in the Middle East.
There is plenteously of scope for business ideas within the events industry, from large commercial exhibitions and trade shows to private events like weddings and parties.
- Health and wellbeing
Dubai’s population is extremely health conscious. Therefore the emirate contributes enormously to a UAE health and wellness market with a value of almost USD 3bn which is the largest in the Middle East.
There is an adequate opportunity here for both healthcare and non-healthcare-professional. The health and comfort market is home to many subsectors. You could be a personal trainer, masseuse, or holistic therapist, or organize wellness programs or trade in vitamins and supplements.
It may be an industry that needs a little more starting capital and the potential return can be massive.
In early 2017, Dubai was home to over 3,200 active projects, value an estimated USD 245bn. This figure has likely enlarged since in the run-up to Expo 2020, an event that has contributed some USD 42.5bn in construction projects.
- Freight and cargo
Dubai is extraordinarily well-connected by sea, land, and air, making it the ideal location from where to operate a freight or cargo business.
Fundamentally this business entails supporting manufacturers or traders with shipping their goods overseas. Setting up near the busy Jebel Ali port will definitely make your business attractive to the several Dubai businesses that ship products overseas every day.
The residents of a thriving city want to get from A to B – and many need to get there in style. That’s what lends this specific business idea so much scope. You could activate a bike taxi service, right up to limousine hire and chauffeur (give somebody a ride) services.
Be certain to do your research first to get information about both the local area and the needs of its peoples. The demand for executive cars will be far higher in more or fewer areas of the emirate than others.
- Real estate
Dubai’s actual estate industry is famed for its inspiring returns. After a comparatively slow duration more or fewer areas in Dubai are returning yields of more than six percent, that’s higher than many major cities comprising London, Singapore, and Hong Kong.
There are other chances here too, outside of investment. The introduction of long-term visas, along with the relaxing of overseas ownership rules is likely to raise the number of emigrants in Dubai, which in turn enhances the demand for property management services.
- Cleaning services
While it may not sound trendy, cleaning is a vast business in Dubai. Not only is the emirate full of office buildings that need cleaning at the end of the working day, but there’s also frequent shops, restaurants, hotels, and bars that want to be kept in top condition.
Then there is the private sector. Dubai is home to numerous business expats who are happy to pay for the services of a company to keep their apartment nice and clean.
- Web development
Here we have one of the more profitable online business ideas in Dubai. Thousands of fresh businesses launch here every year and they all must have websites.
If you already have the obligatory skills then all you need is a laptop and an internet connection. If you are fresh to the craft, training courses are plenteous and reasonably priced.
- Day-care services
There’s one more service that Dubai’s hardworking emigrants are very much in need of and that’s day-care.
This specific venture may take a little time to acquire fully up and running as you’ll want to earn trust and build a customer base. Though, startup costs are negligible, making it an attractive proposition for any entrepreneurs beginning on a tight budget. In fact, day-care is one of many common freelance business ideas in Dubai.
Setting up your business in Dubai
Whether you’re looking for business ideas in Dubai for ladies or men, setting up here is both easy and reasonably priced. The cost of registering a company will base on the kind and size of your business. Though, if you wish to start up on a budget, it is definitely doable.
Be cautioned, conversely: while the application process isn’t problematic, it does need an expert eye. Any errors in your application could lead it to be late or rejected.
When you work with a company formation consultant in Dubai, all you need to provide is some basic documentation and a little information about the nature of your business. Then, sit back and let the experts take care of the rest by managing your license and visa applications, communicating with all significant departments and authorities, and reporting back when you’re ready to start trading.