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Because Dubai has a population of more than three million people and receives a significant inflow of tourists, prospective entrepreneurs may do well with a modest company setup in the city. When you think of a startup, the first image that comes to mind may be of a corporate office filled with youthful employees, a foosball table, and a fancy pantry. However, this is not the case. When it comes to starting a small company in Dubai, however, there are a plethora of options available to entrepreneurs.

Here is how a small business turns successful in Dubai

Starting small may mean anything from renting a work space or setting up a tea stand next to a parking lot to selling groceries to offering consulting services based on your skills. The options for establishing a small company in Dubai are almost limitless. Before starting a small company in Dubai, however, it is necessary to consider a number of essential considerations.

If you are wondering how to establish a small company in Dubai, the following six suggestions will guide you through the process:

Obtaining financial assistance

Certainly, starting a small company in Dubai will be more difficult than in other parts of the world. Everything from acquiring different licences, renting out space, outfitting it, purchasing equipment, procuring supplies, and paying employee wages, to marketing and advertising your company, can be a time-consuming and costly endeavour. If you do not have the necessary money, look for a company partner who shares your vision or consider taking out a business loan. There are no collateral requirements for most banks in the city, and they provide flexible repayment schedules as well as easy paperwork procedures.

Despite the fact that the changes to the Commercial Companies Law now enable foreign entrepreneurs to control 100 percent of their company, the deposits needed to do so are very substantial. To conduct business on the Dubai Mainland, it is thus necessary to form an alliance with a sponsor from the local community. This local partner will serve as your service agent, for which he or she will charge you an annual fee that has been mutually agreed upon.

Preparing paperwork for the establishment of a small business in Dubai

There are many government entities involved in the process of examining, authorising, and granting different licences that you may need to conduct company activities. According to your choice of location, the trade licence is the most important document for starting a small business in Dubai. It is issued by the Department of Economic Development (DED) or the respective free zone authority under which your business will fall, depending on the type of enterprise you wish to establish.

The following are the essential papers that you will need to have on hand when applying for your Dubai trade licence:

a business strategy
Forms required by the government have been completed.
Memorandum of Association (also known as the Articles of Association) (MoA)
Certificate of registration for a trademark
Shareholders’ approval certificate (NOC) for the first time (if any)
Copy of partners’ passports and copies of their visa pages
IDs from the United Arab Emirates
A replica of Ejari’s work (tenancy contract)
Formalities pertaining to the law

Depending on the type of your company, you may be required to get certain official licences. For example, in order to open a restaurant in Dubai, you must first obtain a trade licence from the Department of Economic Development (DED) or the relevant free zone authority or the Department of Tourism and Commerce Marketing (DTCM) depending on your location, then a food and safety licence from the Department of Food and Safety, and finally an official letter of consent (NOC) from the Municipality of Dubai.

Choosing a site in Dubai for a small business establishment

Your company’s brand is represented by the location of your office or shop, which is critical to the success of your company. Several locations in Dubai have been designated as being particularly suited for certain types of companies. For example, Sheikh Zayed Road and Business Bay are home to premier corporate offices, while Dubai Healthcare City is home to specialty clinics and hospitals, Media City is home to the regional offices of several international media companies, the Dubai International Financial Center (DIFC) is the financial centre of the country, and the industrial areas are home to the majority of assembling and manufacturing units.

There are, however, additional considerations to keep in mind when deciding where to locate your company. Location near public transit, such as bus and metro stations, so that your workers and prospective customers can travel more easily, the presence of restaurants and convenience shops, and the availability of parking facilities are just a few of the factors that make it a good choice. Furthermore, the interior design of your office is important. The design, mood, pricing, and personal touches such as furniture and lighting all play an important part in attracting customers and establishing a positive work environment, as well as in retaining employees. There is no shortage of interior designers and businesses in the city that provide full furnishing solutions at reasonable rates.

Establish a small company in Dubai with the appropriate personnel.

Your recruiting decisions may make or break the project, so take your time in vetting the candidates who will be in charge of the operation. Inquire not just about their previous experience, but also about how they interact with colleagues, big groups of people, and how they deal with customers under time constraints. This is something that may be outsourced to a staffing firm. Furthermore, you may have their visas and paperwork completed by experts that have extensive experience in the area of immigration.

Marketing

Newly established companies in Dubai must promote their products and services through a variety of channels, including print and internet media. Having an in-house IT staff will increase your company’s exposure in today’s fast-paced environment, where technology is always changing. Due to the fact that you may already have too much on your plate, teaming up with a public relations firm that works with clients in the appropriate sector is a smart option. This team of professionals will write press releases, manage social media campaigns, and arrange promotional events to assist your business get visibility.

Consult with a qualified professional.

The process of starting your own business may seem daunting, especially when you consider the amount of money required and the many variables to consider, but you can receive assistance at every stage of the process from Generis Global’s experienced advisors. It is our team’s responsibility to advise and help you with both planning and the procedures necessary to establish a small company in Dubai. Generis Global ensures the success of your project at every step, from assisting you in selecting an appropriate property for your dream project, finding a local sponsor, and sorting out paperwork at different stages, to obtaining specific permissions. Furthermore, the business can assist you with financial matters and will handle all of your PRO needs.