Amidst the chaos caused by the COVID-19 pandemic and the uncertainties that have tagged along with it, businesses had been struggling before the government providing sufficient relief with the stimulus package for helping businesses in the UAE. Abu Dhabi stood a firm ground during the difficult times due to which it has been experiencing an early as well as patient recovery in the economy due to companies reinitiating their operations. While many of us are still locked away at the comfort of our own homes, the corporate entities in UAE have been aggressively churning to restore normality in the company’s corporate life cycle.
Production, manufacturing, logistics and trade of goods and raw materials has been restored therefore industries such as the food and beverage sector, textile sector, E-Commerce sector and automobile sector have returned to their natural habitat of constant grind and hustle. And with this new development, the passion for business setup in Abu Dhabi has been reinvigorated as an entrepreneurial mindset. Thus, new business owners are stepping up to the task and using adversity as an opportunity to run a new company or expand an existing venture in Abu Dhabi’s mainland jurisdiction.
Things to do after starting your business in Abu Dhabi Mainland
Abu Dhabi is the hub for all core business resources and activities such as manufacturing and production, which is a major reason behind the mainland's recognition as a business destination in the Emirati market.
1. Tap into the Local Supplier Network
They might not be mentioned in movies or addressed in success speeches. Still, the truth of the matter is that the key to spreading your product and service to every nook and corner of the target region is to tap into the local supplier network both for acquiring resources as well as distributing finished goods. A company is only as good as its supply chain. And in the case of new businesses, the current times present a colossal opportunity sighting how the market has reopened and suppliers are looking for new clients after the closure of pre-pandemic small and medium enterprises. Therefore, forming a supply chain through the local supplier network could be a gamechanger when competing with other entities.
2. Talent Acquisition and Training
The United Arab Emirates is home to probably the most adaptable and forward-thinking workforce. When it comes to developing an innovative mindset towards solving problems, the new generation of corporate professionals is filled with talented individuals who share unconventional approaches to business activities. Therefore, it is vital to recruit the best minds and talents into the business and to train them with the goals, objectives, vision and mission of the company. The current pandemic has left many residents without proper employment; therefore, an abundance of human resources is available, which can be harnessed by new businesses to strive for a long-term future for the company.
3. Study the Competition in your Target Market
Most business owners enter the market by seeing the purchasing power and customer trends of their target consumers what they don't analyze is the real competition in the region. Therefore, it is essential to learn the ways of the competitors, what they offer and how they offer their products and services in order to be aware of the existing market standards and benchmarks. Once you are aware of the competition, it is up to your business to provide better quality to the consumers.
4. Complete all Administrative Activities with Commitbiz
Administrative activities can be a hassle for new businesses unless third party consultants who specialize in the field of business setup in the UAE provide expert assistance. This alliance with a professional can be crucial in doing business, especially in Arab countries, considering the diverse culture and unique business environment. Completing the prior obligations will also allow the top managers to focus on core business operations. These activities can include –
- Incorporation of the company
- Trademark and Patent Registration in UAE
- Tax Registration and filing for taxes
- Submission of documents to concerned authorities
- Audit services
- Nominee Director Services
We at Commitbiz comprise of a team of industry professionals that have catered to several businesses in the UAE with an overall experience of 15 plus years in the Emirati market. Our services comprise of business setup in the UAE, company secretarial services, accounting and bookkeeping services, and nominee director services. We strive to provide entrepreneurs with an overall package of administrative services to simplify their journey from inception to incorporation in the UAE market. Contact us to know more about our services.