A lot of business professionals have come to Dubai, attracted by tempting job offers, modern surroundings, and the concept of living an easy, luxurious and fun life. But with the approaching World Expo 2020, new opportunities will arise – why don’t you move from the comfortable, but limited status of an employee to the practically limitless options that you’ll have when you start your own business?
Being an entrepreneur doesn’t mean you need to have an exceptional idea, some great invention, or a million in your bank account. All you need are professional skills and knowledge in your certain area of expertise – qualities many expats no doubt possess – and of course, a bit of adventurous, entrepreneurial spirit. There are several essential conditions for every successful startup, among which is the right timing. And while having a business plan, funding, and a winning strategy are somewhat common basics wherever you are and whatever the local market, the right timing depends on variable factors.
First, you need to decide whether you are ready to make the step towards your own business and then see if there are good opportunities to get advantage on. A hint: in a vibrant, fast-growing and ever-changing place like Dubai, there are always plenty of opportunities for those who know where to look for. Next thing is to see the trends and peek into the future – what are the hottest products and services that will be in huge demand over the next few years (or decades)? Luckily for Dubai-based professionals, the emirate is indeed developing at a fast pace, which means there are more options every single day, whether you are a business consultant or a health-care professional. However, if you are indeed waiting for the perfect timing, you might want to stop waiting right now and start acting.
Why? Because Expo 2020, which will take place in five years in the city, is a powerful catalyst for economic growth in Dubai and in the UAE as a whole. With so many real estate, retail, manufacturing and technology projects launching in preparation for the event and with so many international corporations coming to Dubai, business activity is increasing across a lot of sectors. The event will attract millions of tourists, but it doesn’t mean you should open a hotel or a souvenir shop. There are plenty of other activities you can embrace in your specific area. For example, if you are financial expert, working for a big or even middle-sized company, you may become a successful personal finance professional, charging your clients with fees depending on the services you offer to them. Or, if you are a HR professional, you can easily launch classes for a few people. If there is an interest, you can move on to a bigger group or several groups of students. There are a dozen more examples everyone can easily think of. And more and more of new kind of entrepreneurs are being “born” every day, but if you are still uncertain whether your expertise will allow you to turn it into a startup, here are few ideas.
This is more commonly known as office assistant, or as it was in the past – a secretary. And while some see these professionals as not particularly skilled, they often actually multitask quite effectively. If you’ve been alongside a successful executive for a while and have mastered all the administrative tools and the ways of business today, you may choose to “break free” and offer your knowledge and experience as becoming an administrative professional.
Software development professional
Most companies today are finding it hard to stay updated with the latest technologies and many of them can’t afford to keep an entire IT division, so they often resort to short-term contracts with freelancing software developers. The areas are ranging from mobile devices to cloud technologies and web development, so options are limitless.
Good salespeople can sell you anything – a luxury perfume, organic food or a luxurious property in Downtown Dubai. The highly experienced sales professionals know their way into the social media world, the viral marketing, and are aware of all the new tools of tomorrow’s trade. This is why they are so valuable to a lot of companies even they’re not working on long-term contracts, but rather make their living from commissions.
It may sound eccentric, but you can be both a doctor and an entrepreneur. There are a lot of private clinics in Dubai, which are looking for professionals – from nurses to neurosurgeons. But instead of hiring them for years they can pay them for certain job, done in a shorter time frame. Many patients also need care after being discharged from hospital or a specialized health center.
The cost for launching a business in Dubai is generally high, but there are various opportunities with free zones in the neighbourhood emirates. In Addition, but there are plenty of free online resources for creating a web presence and marketing your efforts. The tax incentives, offered in Dubai, also offer an attractive environment for businesses and with the upcoming Expo 2020, the opportunities for small businesses and startups are in practice, limitless.