Tag: how to start a business from scratch

Top 10 Business Ideas to Start in UAE
As an entrepreneur, one must always think and plan to expand his or her business and always be on the lookout for opportunities. These opportunities can be in your home country or the land the of wealthy, UAE. The lifestyle in the UAE is posh and lux since it is home to some of the wealthiest people in the world.

Trading or manufacturing quality goods or providing worthy service can take to new financial heights as people here are willing to spend money on quality goods and services. With a growing population, needs are increasing and so are the opportunities.

Top 10 Business Ideas to Start in UAE
How to start a business in UAE

Top 10 Business Ideas to Start in UAE

If your wish to start your business in the UAE, below are some best business ideas that you can choose from.

Construction Agency

Constriction Business in UAE – Business ideas in Dubai

A Construction Agency in the UAE can be one of your best bets if wish to start a new business. Due to numerous foreign investors seeking residential opportunities in Dubai and booming real estate has led to increased opportunity in the construction sector. Your agency can build for residential as well as commercial projects. It is one of the most profitable ventures in the UAE.

Real Estate Agency

Real Estate Agency in UAE – Business ideas in Dubai

Real estate has one of the greatest business opportunities in Dubai. There is almost a race going on for skyscrapers. The main reasons for this include increasing rent moderation, supply, and changing demand for executive positions in the employment market. Therefore, it could be a great opportunity for real estate entrepreneurs to initiate a real estate business in the UAE, especially in Dubai

Business in Health Sector

Healthcare Business in UAE – Business ideas in Dubai

The UAE has reported higher birth rates, increased life expectancy, a rapidly shifting epidemiology profile, and a rise in the incidence of noncommunicable diseases. All these factors, combined with a shortage of healthcare workers, and low insurance penetration rates, create bright opportunities for firms looking to enter the health care sector in the UAE.

Many big players in the health sector of UAE from the Gulf Capital itself and also London have seen splendid numbers in revenue. The investment bank Alpen Capital has estimated the healthcare spending in the UAE to expand by 13.1% annually in the next four years. This means that entrepreneurs looking to enter the healthcare sector in the UAE can have a healthy future.

5 Fast-Growing Businesses You Should Invest In

Entrepreneurs and people looking to invest in businesses have never had itbetter than they do today. Along with online platforms that provide highervisibility to startups [https://startuptalky.com/tag/gurugram-startups/] and SMEs,consumers are displaying more acceptance and appreciation for produ…

StartupTalkyShubham Kumar

Consultancy Service

Consultancy Business in UAE – Business ideas in Dubai

With the increasing number of businesses in the UAE, the need for consulting services is at an all-time high. Most of the companies in the UAE are new and at the incubation phase so they require advisory for efficient resource management.

These companies generally outsource their planning and strategy to skillful consultants for more accurate and achievable solutions. Therefore, starting a consultancy can be very profitable since there’s no scarcity of clients in the UAE marketplace.

Beauty Brand or Store

Beauty Store Business in UAE – Business ideas in Dubai

The UAE is the land of wealthy consumers that are very much interested in beauty products. It is one of the best marketplaces for luxury beauty brands to thrive and trader to generate amazing sales. People are willing to spend their money on expensive products if they’re worth it.

The diverse market has many options to choose from. Skincare, Makeup, Haircare, and Fragrances back their seller with great profits. Fragrances constitute a major chunk of the revenue as it is widely used in UAE. If you manage to build a great collection, there’s no limit to what you can achieve.

Follow These Steps To Start A Beauty Parlour Business in 2021

In a survey conducted by lifestyle experts, it is found that the cosmeticsindustry has been grown by 60% in the last five years in India. With this, therehas been an increase in the parlour or salon industry too by 35%. It is abooming business and attracts customer of most age group whether it is…

StartupTalkySouvik Dey

E-commerce Solutions

E commerce business in UAE – Business ideas in Dubai

The Covid-19 pandemic proved to be a catalyst in the growth of the online business sector. It accelerated the growth of e-commerce to new heights. Just in the initial months of 2020, UAE saw a 300% increase in the demand for e-commerce among its customers. Thus, a company to provide easy ways out to such business owners are bound to make profits.

Since many established brands are tilting towards e-commerce, it inevitable that they’re going to need expert solutions in the process which such companies are going to provide.

Fish Farming

The UAE primarily depends on imports to meet its food supply demands. To ensure food security, the government is encouraging foreign and local investments in aquaculture developments. They are willing to provide several incentives for the sector, along with fingerlings of local species, curating aquaculture frameworks, reducing institutional and investment constraints, and mapping out suitable sites for development.

These incentives are coupled with the gradual increase in fish prices have made aquaculture in the region an attractive investment and business proposition.

How To Start A Fish Farming Business | StartupTalky

Fish farming is the fastest-growing food production segment in the world. It is the process of raising aquatic organisms commercially in a controlled or semi-controlled environment to increase productivity. We can start a fish farming business through these 6 steps.

StartupTalkyATHUL C K

Recycling

Recycling Business in UAE – Business ideas in Dubai

Recycling is a relatively infamous yet profitable business. People have made millions in waste. Retail outlets in malls and high-end stores undergo a revamping procedure every two to three years as part of a clean image campaign. This creates opportunity and revenue for contractors.

UAE government is working towards supporting such businesses as they need to manage their overall waste generated each year. Recycling also has great potential in the construction sector as it accounts for 60-70% of the total waste generated.

Security Service

Security service business in UAE – Business ideas in Dubai

There are Security Companies in the UAE that protect the people, private properties, and government entities. It is a profitable business option as there will always be a demand for security guards in the UAE. But you need to decide on a free zone or mainland setup.

If you choose to establish your business in the mainland, you can freely trade with the local market. You can bid for government contracts that can be quite lucrative. On the other hand, is a free zone, you get 100% exemption from customs tax.

Jewellery Making

Home to numerous wealthiest individuals from the world, UAE is the perfect place to line up a jewellery company. The government has created specific rules and regulations to impose check-ups on those who bring gold or other valuable metals which are sold within the Dubai Souk.

The UAE jewellery market had grossed 12 billion dirhams by 2020. Dubai leads the UAE jewellery market as it has tourists who find it cheaper than their home countries and enjoy an outstanding range of exquisite jewellery.

Conclusion

These were some fields in which you can make great profits in the UAE. With supportive laws, some of these sectors can also be sustainable in the long run. Rising demands are creating a market for new businesses that generate great sales and build a strong customer base. You too can establish a successful business in the UAE if you play by the rules, understand the culture, and offer quality service.

FAQs

Which business is profitable in UAE?

Real estate, Business Consultancy and Healthcare are some of the profitable business ideas you can start in UAE.

Is UAE good for business?

Low tax rates, low import duties, free trade agreements, state of the art infrastructure, and a lot of other benefits makes the United Arab Emirates (UAE) a great place to start a new business.

Can a Foreigner start business in Dubai?

Yes, Any Foreigner can start a business in Dubai.
February 7, 2022
How to Decrease the Chances of your Startup Failure?

The average life of a global enterprise is usually just 2 years; most of them fail and cannot survive after this time, due to different factors. Among them, we can find financial lack of control, bad administration, and a little vision to take them into the future. In the next top 8, we will be able to give you some tips to prevent your business from failing and even to boost it.

1. Research the Market
2. Take Care of Finances
3. Set Goals and Objectives
4. Identify Areas of Opportunity
5. Find the Differentiation
6. Attract Customers Constantly
7. Startup Costs for Starting your Business
8. Working the “Fear” of the Risks of Starting a Busines
FAQs

1. Research the Market

Researching the Market

Researching the market is probably the number one step that every entrepreneur or business owner should take. This is as such a tool applied through surveys, evaluations, and file information, which allows knowing the real needs that consumers have, their tastes, preferences, and profile.

It should be done in order to know how the competition develops, what customers are they looking for and the opportunities they have to be a strong company. By having this information very well-identified, viable business models can be created and adapted, which by themselves are already promising for the future.

2. Take Care of Finances

Take Care of Finance

The administration of financial resources is very important to be able to support the entire business and prevent it from falling. The rules that must be followed include the constant review of the financial statements, the measurement of expenses and income, and taking into account the need for financing at some point.

In other words, every business that wants to accelerate its growth needs to obtain sufficient financial resources to achieve it. In one of the reports on credit and growth, we learned that only 40% of entrepreneurs focus their resources on strategies that can create long-term value.

3. Set Goals and Objectives

Set Goals and Objectives

It is important that you adhere to the business plan that you created, in order to have the goals and objectives established and to know where it is necessary to direct your business. In other words, this helps you know what you and your team need to do in order to take the company to the next level.

You can follow work methods in which everyone knows and defines their tasks to fulfil them on an estimated date, and thus obtain the improvement and growth metrics they are having.

4. Identify Areas of Opportunity

Identify Areas of Opportunity

Identifying the areas of opportunity is the only way in which a business can improve and be more likely to continue operating and attracting customers. Ideally, you should constantly get feedback from your customers, to know what your service is like, the quality of your product, or even what they need.

You must identify those aspects within the business that need to be improved, for example, manufacturing, administrative, or even maintenance processes, and think about how you can improve them.

5. Find the Differentiation

Find the Differentiation

One of the very important qualities that prevent a business from failing is its differentiation. By offering something totally innovative that makes the business stand out, it is possible to attract an endless number of clients and consumers who wish to satisfy any need.

Companies that manage to be disruptive stand out from their competition and even manage to change the development of their industry. In Latin America, different businesses have been created that start from being SMEs to achieving a big breakthrough.

6. Attract Customers Constantly

What makes a business work, in addition to finances, are the clients since they are the source from which the capital is obtained so that everything continues. There are different ways to attract them, for example, digital presence, different sales channels, advertising on social networks, and other marketing strategies that you can adapt to the vision of your business.

At this point, we recommend that you must know very well the profile of your clients/consumers and that your efforts really serve and turn into sales.

7. Startup Costs for Starting your Business

In addition to infrastructure and personnel costs, it is necessary to take into account the costs of setting up the company itself. The main expenses to start a business are the fees of the Board of Trade and the issuance of the permit, if applicable, in addition to others that vary between states.

The total cost by traditional means can vary from R$700 to R$2,000. However, the facilities of the internet already influence these processes and the costs to start a business online may be lower than that.‌‌

8. Working the “Fear” of the Risks of Starting a Business‌‌

Working the Fear of Risks

One of the biggest fears faced by the entrepreneur is making mistakes and, consequently, losing the money and time invested. Among the risks of starting a business, this one stands out. This fear usually arises from insecurity in making some important decisions that involve risks. The tip is: take risks, even though you are going to make mistakes. You might take wrong decisions and will make a lot of mistakes but this is natural.‌‌

How much money do companies spend on Market Research?

Big companies spend nearly 5-10% of their annual revenue on market research as it provides a deeper understanding of their customer and competitors.

StartupTalkyVibhavari Madki

Conclusion

It is estimated that out of 1,000 businesses, 800 fail in the initial stage of growth due to their negligence towards several crucial factors. Therefore, by following the above tips, you can increase the chances that your business will continue to develop in the market.‌‌

FAQs

What is the most common cause of failure for a startup?

The causes for startup failure are money running out, lack of research/being in the wrong market, ineffective marketing, bad partnerships, etc.

Why do 90% of Startups fail?

The major reasons behind the startup failure in India are lack of motivation, lack of funds, lack of focus, lack of agility, business model failure, etc.

How can startup failure be avoided?

The startup needs to be updated with the technology and the software that they are using. All the members of the company should communicate, motivate and channelize the energies of the team to be successful. By following this we can avoid startup failure.

What happens when Startups fail?

When startups fail they would apply those payments to any outstanding debts, liquidate assets to pay debts. In many cases venture, capital investors, and other investors will end up with the loss.

December 28, 2021
How to start Your own Startup Business that Thrives?

Starting your own business can be challenging. The use of the Internet and smartphones have brought tons of opportunities for startups for the last two decades. To setup a successful business, you need to create a proper business plan, assess your finances, complete all the legal paperwork, choose your partners, choose the best tools. But question remains how to start a business plan. Here’s a step by step guide on how to start a business from scratch.

Google, Apple, Snapchat, and Instagram were all tech startups that have turned their founders into multi-millionaires. Surprisingly, the tech sector is not the only industry with the opportunity for startups. Other areas, such as agriculture, clothing, health, retail, and many more have excellent opportunities for a startup to grow. One just needs to use proper strategy and tools to start a small business that thrives.

Steps to Start a Profitable Business

Refine your Business Idea

Think of an idea or product that you strongly believe in. Every great startup begins with a plan from someone’s mind. These people have their minds set, understanding enough to execute their ideas. This step is probably the hardest of them all because finding a great idea that you strongly believe in can be challenging. Thinking of a unique excellent or product gives your startup even more leverage to succeed.

Types of Business plan for Startup Founders

A business plan [/tag/business-plan/] is a written description of yourbusiness’s future, a document that tells what you plan to do and how you plan todo it. The importance of a business plan needs no explanation. Just liketextbooks for the basis for education, a business plan forms the crux of a…

StartupTalkyAshwini

Find a mentor

While not entirely necessary, finding a mentor is often a vital step in putting up a successful startup company. Mentors are great because they give start valuable insight and guidance in starting your business, especially if you have no prior experience in business planning and management. You can find a startup CEO coach online to help you learn the ropes on running your business. A mentor or startup CEO coach also passes on valuable lessons learned from years of experience.

Write Business Plan

Create a business plan or make a feasibility study. Once you have your idea and before anything else, you need to start building your business plans. Your business plan will tell you the feasibility of your business succeeding, how much risk is involved, and whether it would be worth seeing through.

Design your Product or layout for your Service

After making a business plan, the next step is to create a detailed study and subsequent business plan for your product or services. To succeed, you need to offer products or valuable services your intended customers will appreciate. You can always ask the help of professionals or freelancers to help you with your business development plan.

Find the means to execute your design

Once you have your own product or service ready, you need to find the effective methods to create it. You can opt to get a loan from a bank, partner with another company, look for investors, raise the money yourself, etc. Part of the design execution first involves proper budget estimations, possible profit calculations and so on.

10 Steps To Ultimate Guide Of Writing Business Plan

A business plan decides the future of a business. It’s working, profit, featureseverything is a layout in a business plan. But there is no universally acceptedtemplate of a business plan- it tends to differ from company to company, ownerto owner, product to product, service to service. No matter…

StartupTalkyYash Gupta

Analyze and optimize.

Once you have executed your design or started your company, it does not stop there. For your business to succeed, you need to keep it running at its full potential by continuously improving and optimizing your current processes. You can use bpm software to help you with the modeling and optimization of your operations.

These are the general steps to creating a startup that thrives. The proper attitude is also necessary for building your own company. The journey requires a lot of determination, patience, and motivation.

August 7, 2020