If you’re looking to start an event management business, now is the best time. With Expo 2020 bringing in large crowds from all across the world, the event management market is a lucrative one headed towards growth. In this article, we explore how you can organize events with ease using an event management license.
An event management company is a business opportunity that is suited for those who wish to engage in the business of planning and managing corporate and other official events. Everything from event production and promotion to hospitality management is covered under the scope of event management.
To start an event management business, one of the first and most important aspects to consider is the licensing requirements. A trade license is a mandatory document required by all entrepreneurs who wish to start businesses, as it serves as a legal permit that enables them to conduct business legally within the borders of the UAE. However, there exists a list of permissible and non-permissible activities that have been set by the government for those who wish to acquire an event management license and begin their business in this field.
- The organization and set-up of gala events, conventions, award ceremonies, product launches, business conferences as well as other business-related economic activities.
- The reservation of hotels for events mentioned in point 1.
- The sale of tickets for events mentioned in point 1.
- General trading activities that include the import and export of products.
- The organization and sponsorship of events not approved by the relevant authorities.
- Venue management
- Conducting civil or construction related activities like building stages etc.
- Training activities
The permissible and non-permissible activities have been set in stone and serve as a guide for those who are not familiar with what is within the scope of their trade activity. Starting an event business is a beneficial venture worth investing in mainly due to low initial setup costs as compared to other business set-ups engaged in activities other than event management.
Running a business with an event management license
Once you’ve received your license and are aware of the scope of activities allowed and not allowed with its use, understanding a few rules regarding the general policies and regulations associated with event management is the next step in establishing your dream event management business set-up. Some of the rules are as follows:
- Any tickets, websites posters and other paraphernalia associated with the promotion and relay of information of the event must clearly state general public information like safety guidelines.
- The sale of tickets and promotion of events must be regulated under the relevant government authority of the emirate the event is taking place in. However, if the event is being conducted in a free zone, ticket and promotion related regulation falls under the relevant free zone authority.
- The sale of tickets and promotion of events outside the UAE are subject to international rules.
- In case of event withdrawal or cancellation, the business is held responsible for refunds and other event related charges.
Keeping these regulations in mind, you are essentially prepped to start your very own event management business. This line of business has concerns relating to what is considered an event under its scope, by extension determining the type of economic activity your business can engage in within the event management industry. Once you understand the know-how’s associated with running a business in this field, you are set to begin your journey to set up your business.
Starting an event management business in the UAE can seem daunting, with licensing requirements and permissible activities amongst other regulations that may seem hard to understand. At SPC Free Zone, our expert consultants break down the process involved in starting your own establishment, making your dream business setup in the UAE a reality. Contact us at 800 SPC FZ to start your business today.