Small Business Ideas in the Middle East

by Zaara 07, May 2021

Small Business Ideas in the Middle East

Dubai is the trading center of the United Arab Emirates (UAE). The outstanding achievement of the last 30 years of Dubai, reshaping from an oil-dependent semi-arid desert to one of the largest industrial and innovation hubs globally, is exemplary. Various investors and entrepreneurs migrate every week to Dubai to set up their business here. Due to the emirate’s reputation of being a fertile ground for company setup, its commitment to sustainable development & economic diversification, progressive-minded government, and liberal corporate policies.

If you are aiming to start a company in Dubai, you can consider a few ideas. The following sectors present enormous opportunities and potential returns soon.

1. Real Estate

Real estate is one of the most developed sectors in Dubai. With a plethora of industrial, housing, aviation, and commercial ventures in the process, this industry is expected only to grow further. It is the right time to be investing and engage in construction projects in Dubai. With the World Expo 2020 being hosted by Dubai, this sector ensures an added fillip.

2. Financial Services

The UAE has quite an integrated and established financial structure in operation to support the large-scale enterprise there. The Banking, Financial Services & Insurance (BFSI) industry in the area is well developed. What’s more, there is a perpetual requirement for accounting, bookkeeping, auditing, and other financial services in Dubai.

3. Retail

Dubai is renowned for its 'souks,' or bazaars, especially jewelry, and the emirate is referred to as the Middle East’s retail hub, with more than 70 shopping malls. There is an evergreen opportunity for business establishments and merchants in the area. And the territory of online retail is not far behind either. Amazon recently purchased the famous e-commerce business Souq.com. It speaks volumes about the significant progress being driven into the market.

4. Tourism

Dubai draws millions of visitors every year and is one of the world's most attractive tourist destinations. There are countless sterling hotels and resorts here, thus. Entrepreneurs working directly or indirectly in the hospitality and tourism industry should look forward to Dubai’s lucrative opportunities.

5. Schooling

11.5 percent of Dubai's population is school-age, projected to grow in the future. To cater to this need, an additional 77,000 student services, requiring around 50 new schools, will be needed in Dubai. More teaching practitioners and educational institutions should, thus, expect to succeed in the city.

6. Healthcare

Dubai is a recently developed area, and the population here enjoys a pleasant standard of living. People care for their wellbeing in Dubai, and there is a need for specialized healthcare facilities here as a consequence. In Dubai, a quality-oriented private company in the health & wellness field is expected to get a boost.

7. Trading

Trade is what shaped Dubai into what it is currently. The very lifeblood of the city is import & export. In Dubai, everything from eatables, textiles, jewelry to furniture, luxury goods, and vehicles is traded. And even the stock market is soaring right now. In a recent development, a new cryptocurrency exchange, Palmex, was introduced in Dubai. Dubai invites merchants with open arms due to its business-friendly and progressive atmosphere.

8. Advertisement Agency

The advertising and digital media industries continue to show signs of growth. For advertising professionals in Dubai, there is a huge opportunity. There are several business models and paths that you can consider when planning on joining this industry. Brand growth, animation, 3D modeling, and media purchasing are among the top business opportunities in advertising.

9. Business Consultancy Service

Consulting services are provided as the most lucrative business prospects in Dubai. The benefits outweigh the obstacles to the vast expertise that comes with the market. Before you start a consultancy company in Dubai, make sure you have all the authorities’ necessary licenses.

10. Education

Due to the presence of an enormous ex-pat population in Dubai, there is a tremendous opportunity for everyone who wants to set up schools. Certifications, permits, and utilities are the main specifications you need. If you don't want a new school to start, you can purchase a franchise.

11. Real Estate

In the UAE, real estate is indeed one of the booming industries. Dubai is home to 'Burj Khalifa,' the world's highest building. It also has plenty of skyscrapers, artificial islands, and residential and industrial projects. So, there are opportunities in different real estate segments. You may opt to go into land development, property management, or brokerage.

 

The massive population of Dubai ex-pats who need to buy or rent properties is why this city makes the property so attractive, and a large number of tourists the city attracts every year. If you intend to set up a real estate agency in Dubai, you need to have all the licenses to operate.

12. E-Commerce

In the past couple of years, the e-commerce sector has seen a drastic improvement. Even though the e-commerce market in the region is not as mature as in Europe, the US, or China, what's thrilling is that there are plenty of shoppers that can be targeted. Dubai has a large population and taste, owing to which an industry such as e-commerce can survive for a long time.

13. Recruitment Agency

As the economy continues to rise, the demand for skilled labor is growing all the time. With the support of the professional labor force, industries are powered. Every year, many businesses are setting up offices in Dubai. Even these businesses face difficulties when seeking the right skills. Less than 1 percent of the citizens are indigenous. The language barrier also exhibits an obstacle. Recruitment agencies have a prepared market, and apart from demand, recruitment agencies have become such a profitable business, as they require minimal resources.

14. Transportation

Dubai is a tourist paradise. The transport sector has many unexhausted prospects, and transportation is gaining directly from tourism. Hence, starting a Dubai transportation business that can produce a fantastic return to a passionate entrepreneur. The openings vary from local taxi services to trans-city transport services. There is a significant chance that this would directly affect vital industries, such as transport, since its economy is expected to expand rapidly.

15. Security

The UAE has fewer security issues than most developing countries, but individuals and companies do not risk their assets. That's why the demand for security personnel or guards has risen in the region. If you cannot start this company, you can still make money in the security sector by providing security devices like alarm systems and surveillance cameras.

Dubai is riding on the future’s coattails to expand hand in hand with ecological sustainability as a suitable destination for foreign direct investment ( FDI). Business opportunities here are abundant, and an entrepreneur in Dubai has a lot to achieve, provided the appropriate will, commitment, and venue. If you plan to start a Dubai company, please do not hesitate to contact us, even if it's only for friendly advice.

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