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Your best business development ideas in the United Arab Emirates

Hi everyone,

As a foreign entrepreneur, launching a business in the United Arab Emirates is a fantastic project and an exciting challenge. Some ideas are likely to succeed. Some others are promising but may not work as well as intended.

In your opinion, what kind of business or industry is likely to succeed in the United Arab Emirates? What kind of industry or service currently unavailable or underdeveloped in the country would meet local needs?

On the other hand, what are the most common business types foreign entrepreneurs would be eager to launch in the country but with very little chance of success?

Thank you for your insights.
Priscilla

Priscilla, good morning. Opportunities are tough. I have created with some strong backing in Dubai a team of finance and specifically tax professionals and we are breaking out heavily into VAT, training, understanding, ERP, record keeping and penalties!  that is coming to the whole of the GCC.  The barrier I have is contacts. This is not just finance departments but is legal, commercial, procurement too.
Fail to plan, plant to fail
Cheers
Andrew
***

Moderated by Priscilla last month
Reason : Do not post your personal contact details on a public forum for your own security

Dear Priscilla, I have come through Andrew's comments, specially the very fantastic expression "Fail to plan, plan to fail". the same I am facing. Regards,

Hi Priscilla,

I still consider the hospitality sector is the most likely to succeed although it's already rampant here but then a unique concept especially in a restaurant or bistro business would make it stand out and lucrative plus the right persons for the right positions.  Unfortunately businesses here, if not all, tend to fail by having them mismanaged.  I should know cause I used to be in this sector and I have seen its big potential but somehow owners fail to realize it because of the issue of being mismanaged.

You can also visit this website for additional ideas. http://www.dubaibusinessblog.com/busine … -in-dubai/

Hi Priscilla,

I totally agree with Cisqo about the restaurant or bistro business, it works really well here. If you target the right location. Sometimes I have seen some residential towers(group of 4 towers) without any restaurant within 100m. There would be atleast 3000 people living in these towers. If you get an average of 500 orders per day each costing around 20 aed, you would be making 10 000 aed per day. This calculation is based on the nearby towers only, you may also be delivering food to other buildings.

Providing skilled house keepers, baby sitters, cleaners is a best business in UAE (Dubai & Abu Dhabi)
Professionally managed company can have the returns on investments within 18 to 24 months.

Hi Prescilla, In my opinion any industry/business  has its own significance. Its not correct to say one is more likely succeed than others. The reason for failure is not doing proper market study or home work. Business is combination of good idea, team work & proper execution and availability of funds to support growth. You can see great ideas being generated and mentored into multi million dollar business models. Any one who wants to starts a new business should bring new innovations and ideas to his business. I am sure it will work then
Last but not the least, its the passion that drives forward any business.

Just words mate. You need to be objective in an idea or ideas. Not just words we all already know that are common sense more than anything else

True #dramgines, I fully agree with you.

I've been in the Country for 20 months+ and from my point of view, it has to be a fantastic feasibility prior to decision making in opening a company here.

I have a great idea, less money, easy doable, missing in the market (ain't got investor).

However, nice reading all comments / thoughts

Yours,

Vehbi

Don't forget the deliveroo and others (motorcyclists) who come around us each time we drive (those inhabitants) found their way of food, though I agree to somewhere with your idea.

Should be more availability on EU food, (#Rice #Chicken) enough is enough :)

Brgds

VB

Let me know what you want to get involved in. I have heavy backers and got some cash too.
xxx

Moderated by Bhavna last week
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Hi DreamGes,

Sure, we shall find a suitable time for both and maybe meet-up
xxx

Cheers

VB

Moderated by Bhavna last week
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