In an effort to create a world-class startup ecosystem, Dubai’s government has decreased administrative burdens by 30%, making it easier to conduct business there. Due to its entrepreneur-friendly business environment, favourable regulations, and tax advantages, Dubai continues to be a top destination for entrepreneurs.
Looking for business setup in Dubai with a high chance of success? The top 5 small business concepts that you might explore in Dubai have been compiled by us.
What Are Dubai’s Top 5 Small Business Ideas?
1. A café or restaurant
Due to a significant influx of tourists and the existence of internationally renowned food and beverage businesses, the United Arab Emirates (UAE) has led the food and beverage industry for many years. Due to the opening of borders and the widespread use of vaccines, there will be a significant increase in the number of people eating out in 2021, with the food and beverage sector’s revenue forecast to reach $317 million. But since 2019, the sector has undergone tremendous upheaval.
The COVID-19 pandemic has sped up the adoption of technology-driven restaurant features like marketing automation, contactless orders and payments, and restaurant management software (POS Systems). As Dubai’s population becomes more environmentally and health-conscious, you’ll need to adapt to new technology as well as keep up with local food trends if you want to succeed in the food and beverage sector there.
2. A real estate firm
The real estate market in Dubai is recovering from the pandemic just as swiftly. Dubai home prices are expected to rise 2.5% in 2022, according to a Reuters poll of 11 real estate analysts conducted in August 2021.
In order to fulfil the need for a work-from-home environment, this increase in real estate value has converted apartment renters into villa owners. As a result, many foreign buyers and investors have relocated to Dubai in order to take advantage of the luxury property market.
3. Internet Shop
In Dubai, e-commerce has flourished for many years and is still expanding quickly. The e-commerce market is anticipated to earn $8,531 million in sales in 2021, with a 10.16% annual growth rate from 2021 to 2025.
Starting an internet business in Dubai is a great opportunity for any aspiring business owner because the UAE is one of the Middle East’s fastest-growing e-commerce markets. Within the e-commerce sector, there are a variety of small company ideas to consider, including:
Online food retailer – During the COVID-19 epidemic in the UAE, online sales of food products grew at a triple-digit pace, and it is anticipated that this trend will continue during the post-pandemic era.
4. Employment Firm
On Dubai’s territory, thousands of new enterprises are established every year, with 4,796 new licenses being granted alone in February 2021. It comes as no surprise that the recruiting industry in the UAE is flourishing given the vast number of new businesses that go up each month. It’s also crucial to keep in mind that you must expand your reach outside of Dubai if you want to fully penetrate such a market.
As a result of Dubai’s companies refocusing on the post-pandemic future, it is the greatest moment to join this booming and rewarding industry, where 85% of residents are ex-pats due to the city’s ongoing trend of hiring skilled workers from abroad.
5. A travel and tourism company
One of the most well-liked travel destinations worldwide is Dubai. Every year, it draws millions of tourists, including 5.51 million foreign visitors in 2020 and 2.06 million from January to May 2021.
Despite the current challenges faced by international markets, Dubai’s tourism rebound is accelerating, according to the most recent data provided by the Department of Tourism and Commerce Marketing in Dubai. Due to the implementation of a strict preventive protocol system, Dubai has grown to be among the world’s safest tourist attractions. Start a travel agency in Dubai that specializes in trips to Dubai and the Middle East is a sure bet for success because borders are opening up all around the world and Dubai is already known as a safe destination.
How To Start a Small Business in UAE
Even though it could seem like a lengthy process, properly setting up your firm will only take a few weeks.
To establish your company in the world’s top free trade zone (Freezone company formation) and hub of commodities trading, get in touch with us. From creating documents and assisting with translations to opening bank accounts and giving general guidance, we’ll be there for you every step of the process.
