Simple tips when starting an SME in UAE

Dubai can be called home to small businesses in the world as almost 95 %of companies in Dubai are SMEs. This can be attributed to good infrastructure, and government support to small businesses in the region. This doesn’t mean you can just go and start your business blindly just because others are doing. On the contrary there are dos and don’ts for every business regardless of the success rate in the area. To guide you, here are some tips that might help you while setting up a start-up in UAE.

1.      FIND A BUSINESS MENTOR

A mentor for small business owners in Dubai helps you to plan and speed up growth of your business.  Freiburghaus is a well known mentor for small business owners whose expertise has been of some much help to young entrepreneurs starting up in Dubai.

2.      RESEARCH ON THE COST OF SETTING UP YOUR BUSINESS

A great mentor for small businessowners will tell you starting a business without researching the cost for setting it up is recipe for your business to fail. You need to know all the documents needed for the clearance and approval of your business. Government certification, registration of business name etc, these are things that comes at a cost and if you fail in your research, they’ll cost you dearly.

3.      UNDERSTAND UAE LEGAL STRUCTURE

This might look like unnecessary factor to consider but a mentor for small business owners in Dubai will tell you UAE has one compact legal structure that has very tough rules for offences that might seem minor to you. This is where you need most mentor for small business owners to help you what you need to do to legally protect yourself as well as your business.

4.      UNDERSTAND LEGAL REQUIREMENTS FOR COMPANY FORMATION

Legal requirement for every business varies from another and missing a single requirement might land you and your company in trouble. This is where a business consultant who is well informed of all legal requirements is of great important. Let your consultant handle all the registration process to save you time and legal cost in case you do it the wrong way.

This might not be all you need to do but with these few tips, they might help you in making all the right decisions in starting your business in Dubai and save you a lot of in terms of money and your time.