It is a well-known fact that Dubai stands as a business podium attracting international investors. The region nestles as an open platform to multiple business industries and turns out to be an open business ground. Ranging from established business professionals to entrepreneurs, the area has a space for all. Over the last few years, it can be seen that Dubai serves to be the first choice of entrepreneurs to establish their business ideas. Through continuous research, it has been observed that newbies in the worldwide business market are not able to pay a hefty amount when it comes to office space. This gap gave birth to co-working industry, which bridges the gap and serves to be a perfect option for entrepreneurs.
Since starting a business in Dubai turns out to be a feasible option as compared to other locations, the co-working industry also finds its ground in the same region. It turns out to be a sound business investment to invests, and if you are one among them, then this blog is for you. This article will highlight the possible reasons as to why you should start a co-working business in Dubai.
Co-Working Industry in Dubai
Dubai has been targeted as a launchpad for innovations. According to the Dubai Statistics Centre, the number of startups present in Dubai covers 50% of the companies registered in the region. The next most significant change is expected to occur by the year 2020, as the World Expo 2020 is on its way. The event is expected to raise the number of freelancers and startups and fetch in Dh 122.6 billion into the UAE’s economy by 2031.
The new partnerships will demand physical existence to establish their business, which will be an excellent opportunity for the co-working spaces to provide spaces to suit their needs. Internationally known co-working spaces are looking forward to grasping this chance and set their foothold in the market. According to recent news, “We Work” initiated the process of starting their co-working space in Dubai by the end of 2019.
Core Reasons to Start a Co-Working Business in Dubai
By now, you have got a gist regarding the co-working industry. Let’s move on to the next step and understand the core reasons to start a coworking business.
1.Popular Business Destination
Recognized as an international business hub, Dubai has got an excellent platform for business people. The number of businesses has been continuously growing, and according to the Ministry of Economy, in 2018, a total of 5,32,000 business licenses were issued for new business setup, which rose by 9% as compared to 2017.
As stated above, in 2020, the partnerships will accelerate to the next level. so it is feasible for any businessman to invest in Dubai’s co-working business.
2.High Barriers to Entry
The co-working industry is a new concept which has evolved due to the rise of business entities. The first and foremost issue that an entrepreneur faces is to get a physical existence to implement his business ideas. It is not the case wherein the physical spaces aren’t available. The main issue is regarding the budget, and at this point, co-work turns out to be the best option. Adding the co-working space in the market brings an excellent opportunity to grab the attention.
Moreover, this evolving industry is not having a high number of customers. Lack of competition turns out to one of the boons that an investor should grab at this point. In case you start a business, you have the full-potential to capture the market and build a strong-hold.
The main intention should not only focus on cost-savings. Apart from that, co-working spaces need to be appealing backed by thoughtful design to retain the best talents. It should be designed as a technology-centric workforce and should encourage social connectivity and comfort to the fullest.
Although the co-working spaces work as a one-stop solution for entrepreneurs, it cannot provide a domestic legal framework. Transparency is required between the public and private sector backed by strategic coordination. By doing so, they can turn out to be extraordinary players in the market and can quickly help their clients to diversify their business. Now, let’s have a look at the provides that a co-working space provides.
Facilities Provided by a Co-Working Office
The end goal is to accumulate more customers, which is possible only if you provide the necessary benefits to your clients. Some of the benefits provided by a co-working office are stated below:
- A ground to meet new people and excel ahead
- Number of events gets organized which will help professionals to interact and build a strong bond
- Recreational spaces that allow the individuals to relax at the end of the day
- Vibrant meeting and conference rooms
- The co-working space turns out to be a low-budget option
You can see that opting for a co-working turns out to be one of the necessities of the business professionals. If you are planning to start a co-working business in Dubai, then this is the best time to do so. To initiate, it is preferred to have a word with business consultants who can help you in establishing the business roots. Commitbiz serves as a premier consultant who is dedicated to providing the same to our clients. Our business professionals take utmost care of providing the best services suiting their business needs. To have a word with our experts, do contact us-we’d be glad to assist.