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One belt one road – How to take advantage of the changing market in Dubai

Another major international collaboration is Dubai’s partnership with China for ‘One Belt One Road’ (OBOR), an ambitious infrastructural endeavour that aims to revive its historic Silk Road trade network. The $900 billion initiative involves building roads, railways and shipping lines between China and more than 60 countries in Asia, Middle East, North Africa and Europe. It is said that the...

Why shareholder’s agreements are important in UAE

  Shareholders’ Agreements Provisions Shareholders’ agreements usually include some of the following provisions: Directors and management structure within a company setup Buying/ selling provisions A shareholder’s agreement may grant titles and management roles to one or more of the stakeholders in a company being setup in the UAE i.e.  to be a director on a board, or decide the composition...

Setting payment terms for your clients

When setting payment terms for your clients, here are a few things to keep in mind:   Set a reasonable payment schedule In the Middle East, a payment contract needs to comply with the laws of the UAE, or the Dubai International Financial Centre (DIFC), if the parties opt-in to its jurisdiction. Whilst it is reportedly common for clients to push for a payment schedule with a three-to six-month...

How to invoice international clients

Here’s a few things to keep in mind for a new business startup when invoicing international clients:   List the details It is mandatory to issue an invoice for any product or service that is up for sale in the UAE. In addition to detailing the nature of the work, it also needs to include the following: -       Complete customer (name and address) and supplier information, including the...

How to create a company culture

These are all rather abstract questions, and tough to know the answers to before you actually start work, which can seem like a big risk. How do I know if I’ll succeed in a work environment I know next to nothing about?   If these are questions job seekers are thinking about, that’s a clear sign employers need to be thinking about responses if they want to attract the best applicants and build...

How do I navigate taxes in Dubai?

 As far as Dubai is concerned, the taxes owed by a business depends on the nature of its activities, geographical zone and trading partners. In UAE, it’s also important to know what kinds of tax concessions are currently being offered to foreign investors and startup founders. This can impact what kind of organisational structure and location you choose when you start a business in Dubai.   In...

Benefits of starting your business in Ramadan

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...

5 Key tips to starting your company in Dubai

   Below are five things to remember when you are planning on setting up a business in Dubai:   1) Research your niche in the market:  Before starting your business in Dubai, research the market thoroughly. Study your niche and focus your business plan on how your company can tackle a pain point neglected by other businesses. Through your marketing, emphasise to your prospective clients that...

Decisive Zone – A startup catered to startups

 If you’re thinking of opening a startup business in Dubai, read on to learn how a professional startup-services provider, can help you along the way.   Business support New entrepreneurs starting up a business in the UAE for the first time, often need professional advice on how to make the right business decisions. As a UAE business set up advisory agency, Decisive Zone can play a significant...

How entrepreneurs overcome challenging times in Dubai

Discovering a niche Take, for instance, the case of Jon Richards, CEO of yallacompare.com, whose personal experience of feeling frustrated by the lack of easily available information about financial services back in 2011 led to his decision to launch a comparison website for the same. As he was driven by a hunch, Richards did not invest all his resources into a single big idea. Instead, he...

How to avoid burnout when opening a new startup

As an entrepreneur, it’s important to pay attention to such feelings of stress and anxiety in yourself and in your staff’s behavior because these could be indicators of burnout. The good news is, burn out can be both prevented and addressed, so that you and your employees can stay mentally healthy, and maintain positive energy levels for launching a new project. Read on to learn how.   Take...

How to implement the perfect employee incentive scheme

Business startups in the UAE tend to offer two main kinds of incentives to employees: cash bonuses and stock ownership.    Cash bonuses  Simply put, cash bonuses are pre-set payments that are awarded to employees when their performance empowers the company to fulfil certain objectives. Some companies choose to offer annual bonuses to staff; others stagger payments over a more extended time...

5 Women Entrepreneurs Making Waves in Dubai

Here are five entrepreneurial women that you should definitely know about.   Nadine Mezher – SARWA Cofounder of financial investment and advisory firm, Sarwa, Nadine Mezher wanted to start a business that made financial loans more accessible to new and young startup owners in Dubai. Partnered with a Canadian team, and now the chief managing officer, her company offers minimum-account options,...

Should I hire foreign employees or local nationals in UAE?

Therefore, when starting a new company in Dubai, entrepreneurs have to choose between the time-tested strategy of hiring foreign jobseekers or offer the same opportunities to the local talent, while availing the government concessions that come with hiring them.  For entrepreneurs setting up a business in the UAE, below are some factors to consider when hiring expats over Emiratis:  Additional...

Why entrepreneurs are changing the face of Dubai

Let’s look at how Dubai has evolved with this transition.    A vibrant business sector   Dubai has come a long way since its oil-dependent days prior to the 1970s. Where once more than half of its GDP was derived from the oil industry, this percentage has now declined to less than 1%.    Today, Dubai owes its growing GDP to a number of different industries, including wholesale and retail...

Tips for ensuring the smooth opening of a corporate bank account in Dubai

As of June 2019, there are 22 locally incorporated banks in Dubai. Moreover, there are 27 branches of regional and international banks in the UAE, most of which have a presence in Dubai. With about 45 banks to choose from, new investors looking to register a business in Dubai must carefully select a bank that supports their business needs.    When opening a business in UAE and choosing a...

What to include in an employment contract in the UAE

As a new business startup owner in Dubai, you might be putting together a new team from scratch. As this will be the first time you’re working with them, it is a good idea for expectations to be clearly identified in a mutual agreement.     The terms of the job This is where the contract identifies an employee’s departmental position, role, and title in the organization. This section should...

How to raise capital for your business

Read on to learn about the different financial options open to you and which ones might be right for your new business startup in the UAE.                                                     DIY This might seem like the most infeasible or riskiest option for getting a new business startup in Dubai off the ground, but there are ways to make this decision in an informed way. You might be working...

How to save money during your first year as a startup

  Practice patience.    It is unlikely that you’ll turn a profit the first year after opening a business in UAE. It’s important to keep in mind that this first year of business is a learning curve. Your priorities should be learning what works and planning for a stable future for your business. You’ll be mastering skills like problem solving on-the-go, setting reasonable goals, assessing...