Exporting and Importing is excellent, but growing the business outside the homeland faces significant challenges. With the rise in geographical problems, trade wars, with a constant need to keep your finger on the pulse, taking a more strategic approach to growing your export-import business is crucial.
Imports and Exports in Dubai
Until very recently, the direct trade commodities in Dubai were crude oil as well as natural gas. Still, the Emirate has been on a remarkable growth in the development of other non-oil sectors. In the past years, there has been massive development in the non-trade sector in the country. The companies that perform such activities in the trading sector and all deal with the import and export in Dubai have a considerable advantage in their business. Dubai has a significant power wherein apt incentives are being provided to the entrepreneurs and foreign investors worldwide doing business in the said Emirate.
Growing your Export/Import Business in Dubai
To set up your import and export business in Dubai, it is imperative that one gets the needed license from the concerned authorities. Apart from obtaining a license, one has to also look into obtaining additional consents like customs clearance, shipping clearance etc. starting a business is the easiest part, but what next? You need to grow your business to get profits so that the business is successful.
We have listed down a number of ways you can grow your business.
1.Research and Then Research More
Many approaches can be beneficial in growing the export-import business in Dubai. However, such criteria cannot be applied without proper research. To find the appropriate way of improving your construction business in Dubai, you need to research from the core. Researching is a technique that is not as easy as it sounds. There are multiple ways for every solution. All you should do is research on the respective aspect until you find a perfect solution. You can also hire a professional management company about the technical export and import details.
You are starting with the obvious. We all know that business is built on good relationships, but somehow, it gets overloaded. You are mainly required to build on relations with the people, majorly in the countries you wish to export and import. In terms of relationships, the very foremost way to form good relationship worldwide is social media. Many people are finding success on social media sites like LinkedIn for building relationships. However, there are countries wherein issue occurs with such websites. For example, in China, as well as in some countries, LinkedIn and Facebook get blocked. Henceforth, it is much better to personally meet with the potential distributors or clients you want to export and import.
Don't forget to build a relationship with the suppliers and the third parties, which are majorly crucial for the smooth running of your business.
3.Considering the Culture
Every country has its own distinct culture and practices. Dubai, on the other hand, has got traditional cultural values which are strict about following. One will mingle with traditional Gulf Arabs in their dishdashi's and abayas. To run your business smoothly, learn as much as you can about the culture of Dubai. And for trading in various parts of the world, you need to learn about the cultural practices prevailing in that particular country.
Culture doesn't always mean traditional practices; it also means the type of rule followed in that specific country. Therefore, the business investors and the entrepreneurs are required to follow the essential business customs and practices for the said country wherein they are trading.
4. Explore routes for entry
One important thing that business investors are required to do is develop inter-cultural awareness and then locate the proposition appropriately for targeting the particular audience. As mentioned earlier, communication is the key to a good relationship; subsequently, the investors should get involved with the various international business networks to get essential and needful business connections to improve your sales without the loss. Just getting business individuals isn't important what is important is to maintain a proper professional relationship with such business individuals and companies.
5. To Focus Instead of Expanding
One primary term to grow any business, be it trading or industrial, is to expand. However, there is a difference between focusing as well as expanding. Focusing implies how you take care of your current customers better and how you can be more effective in a country wherein you have already traded. In simple terms, how much more profit can you get from the same place wherein you have already traded. Expanding is changing your basic pattern of the business. It implies wherein a business investor focus on the weak spots and tries to expand the activity in a new area. Proper focusing on your business can increase your general client base in a particular area and make it much easier for exporting in other areas.
How can we help you?
Conceptualizing an import/export business is not the only thing the business investors have got; setting up such a company with an excellent technical base is significant .in relation to the setting up of a construction business in Dubai, it is essential to take care of every other legal formality. Hence it is advisable to appoint a business setup expert in this field. Such a professional expert would be taking care of your needs. We at Commitbiz provide end to end business solutions for your needs. We are professional having experience of more than 15 years. For any queries, contact us.
Does freezone have a customs duty?
Import and Export duties are not applicable to the free zone jurisdictions in the UAE. This helps in promoting international trade.
Is re-export from the UAE freezone possible?
What is the procedure for UAE re-export?
You will have to clear ‘Import for Re-export to Local from ROW’.
Can businesses charge VAT on sales without being registered?
No, neither can they claim VAT.
What are the key points to improve the import/export business?
Some of the points to remember are
Make sure you have the good resources to help you
Build great contacts
Manage multiple currencies
Work in different time zones