It is a commonly held belief that a business setup in Dubai suffers a slump during Ramadan. With work hours cut short by a minimum of two hours and a drastic change in the daily routine, many believe that employee productivity and sales statistics are markedly lower in Ramadan versus in other months.
However, this should not deter new entrepreneurs from opening a business in Dubai during the Holy Month. When examined closely, we see that the Ramadan routine actually brings with it certain strategic advantages for business owners. Below we examine just some of those benefits.
Ramadan offers opportunities to extend your network
For entrepreneurs who are new to Dubai and looking to meet other members of the local business community, the relatively relaxed atmosphere during Ramadan presents them with a golden opportunity to do so.
Entrepreneurs can make important contacts at the abundant networking events organised in Ramadan. As work timings are officially reduced in the Holy Month, business meetings tend to move from the formal corporate environment to more casual majlis in the UAE.
Industry leaders describe these informal meetings as prime networking opportunities where business ideas are exchanged, relationships are strengthened, and numerous deals are sealed.
Ramadan is a good time for planning and training
While employees’ energy levels may dip in Ramadan, certain types of business activities suit this change of pace. Whilst it wouldn’t be wise to launch major new products or make big sweeping changes in the organisation during this period, industry leaders suggest that the preparatory phase for large-scale projects is ideal for Ramadan.
Processes such as ideation, performance analysis and forecasting can take place during the slower months so that employees can hit the ground running when they return from their Eid ul Fitr breaks.
In addition to planning objectives, business owners can also schedule training sessions during Ramadan to ensure that their workforce has the necessary skillset to execute the action plan devised during the holy month. This also compensates for the loss of employee productivity during Ramadan.
For new businesses, Ramadan appears to offer the perfect occasion to ease newly hired staff into the company’s operations.
Ramadan is a boon for marketing.
Recent research about Facebook usage in the Middle East indicates that the social media app sees a nearly 15% increase in usage during Ramadan, which translates into an additional 57.6 million hours to capture consumer attention for FMCG, retail, automotive and beauty companies.
This tells us that businesses set up in the UAE can capitalise on this surge of Facebook activity to market their products and services to an attentive audience. In fact, reports show that e-commerce activity nearly doubles in volume by mid-Ramadan. Launching an online business or applying for digital marketing license during Ramadan can, therefore, produce profitable results for a new company.
Decisive Zone is a business setup company helping you find the best-suited solution when establishing a company in UAE. Decisive Zone will advise you on the corporate structure and jurisdiction to choose from, while covering all technical, administrative and financial aspects of UAE business setup.