How entrepreneurs can get the most out of Expo 2020
The most awaited event of 2021 is finally here. Running from the 1st of October until the 31st of March 2022, Expo 2020 is a mega event projected to attract anywhere between 20 million – 25 million visitors from across the globe. Additionally, over 200 nations as well as organizations will be in attendance to showcase their culture and achievements, bringing global prestige to the event and to the country at large. In this article, we explore the ways in which entrepreneurs and investors can make the most out of Expo 2020 and boost their company to greater heights.
1. New foreign investment
The event is set to bring in a huge amount of foreign attention and investment to sectors like financial services, infrastructure, tourism, and construction. Investors are eager to achieve a first mover advantage and tap into the local market as soon as possible, which means that your company can expect an increased amount of attention from foreign investors interested in your business’ offerings. In addition to this, Expo 2020 will also provide a platform for new company formations to showcase their innovations and business model to these investors, enabling the direct channeling of foreign funds into business operations.
2. Increased profits
As mentioned previously, the event will bring in over 25 million visitors to the country, which ultimately means that there is bound to be a positive influx of both local and international customers to your business. For a small business in the UAE, this is a great opportunity to showcase and promote your business’ offerings without having to do much due to the abundance of prospective customers and opportunities that are always just around the corner. Creating profitable connections with customers during this event can have a long-term net positive impact on your business, which can lead to increased revenue, expansion, and so much more.
3. Increased talent pool
The event is projected to boost not only the economy but also the employment rate across various sectors within the UAE. The influx of individuals entering the country means that there is a larger talent pool to select the best candidates for opportunities opening up in your business. This increased employment across the board will have a positive impact on the economy as well as your business.
4. Boosted brand presence
The biggest hurdle a small business setup in the UAE can face is a lack of brand recognition. Though the local market may be aware of your business due to continuing operations and sales, the global stage is a completely different story. Competing with globally established firms is understandably a tedious and expensive task that seems impossible for SMEs in the UAE. However, Expo 2020 provides SMEs with opportunities to establish their global brand and enables them to thrive in the local markets as well as the international playing field, regardless of the sector the business may belong to.
5. Economic opportunities
Dubai’s Expo 2020 is set to provide businesses from across the UAE with opportunities to establish themselves within the region. They offer entrepreneurs opportunities related to investment, innovation, and connections with other investors and businesses from all across the world. These unrivaled opportunities can provide a business with a golden ticket to entrepreneurial success, amidst a business-friendly climate.
If you are considering starting a business in the UAE, Expo 2020 is a catalyst that can boost your operations to newer heights. It might be difficult to understand what it takes to become a successful venture, especially when you are new to starting a business. Contact our consultants at SPC Free Zone (800 SPC FZ) for a consultation about your opportunities during Expo 2020 and how you can make your business thrive today!