Startup Do’s And Don’ts In UAE
The goal of an entrepreneur is to provide customers with effective and efficient services. The provision of high-standard services implies improvement in regular business operations for a company, streamlining procedures, and boosting effectiveness.
If you are looking forward to having a business setup in Sharjah, then learning ways to streamline the process is essential.
In this article, we will talk about the following,
How To setup your Startup Business in the UAE
Startup Do’s and Don’ts
Streamlining a startup
Methods to streamline
Why choose SPC Free Zone?
How to setup your startup business in the UAE
Setting up a startup business in the UAE involves several steps, which are outlined below:
- Determine the legal structure of your business: The UAE offers various legal structures for businesses, such as sole proprietorship, partnership, limited liability company (LLC), and free zone company. Each structure has its own set of requirements and regulations.
- Choose a business activity: Determine the type of business activity you want to undertake, as this will determine the type of license you need to obtain.
- Select a business name: Choose a unique and appropriate name for your business, which is not already registered in the UAE.
- Obtain necessary approvals: Depending on your business activity and location, you may need to obtain approvals from various government authorities and free zone authorities.
- Rent office space: If needed, rent an office space that meets the requirements of the regulatory authority in your chosen location.
- Apply for a trade license: Apply for a trade license from the relevant authority, such as the mainland or the free zone authority.
- Hire employees: Obtain the necessary visas and permits to hire employees, if needed.
- Open a corporate bank account: Open a corporate bank account in the UAE for your business operations.
- Launch your business: Once all the necessary approvals and licenses have been obtained, launch your business and start operations.
It is recommended to seek professional assistance from a business consultant or a local service provider to navigate the legal and regulatory requirements for setting up a startup business in the UAE. SPCFree Zone, can help you with all the above steps in the business setup process.
Now that you know the steps to set up a business in the UAE, here are the startup do’s and don’ts you should keep in mind;
Go with a Free Zone if you wish to own your business fully
Generally, free zones offer three great benefits
- 100% ownership
- Speedy startup
- Duty-free customs boundary
Select a suitable location
Another significant step in planning a business startup is to determine the most appropriate location for the business. Starting a profit-based enterprise in the city wouldn’t do you much good despite the growing economy if your customers or clients are unable to reach you. If you are planning a free zone company then you must decide based on distance, costs, and if it is appropriate for your offering, business model, and trade requirements.
Confirm your visa eligibility
For a business startup in the UAE, every employee, including the owner will require a work visa. Each business license is allocated a specific number of visas and that number is determined by multiple factors and will be important in deciding how and where you setup your business. Criteria’s such as the size of the office, type of the business, the category of the employee, or the investor are factors to consider.
Don’ts in business start-up
Do not register your company in without confirming all details
Often the available information for a free zone gives a wide & excellent choice of offices. However, the actual availability keeps changing. A business startup normally looks for the most economical option. It is probable that when you go to register your company you may find that only certain office sizes are available. This will throw your budget into disarray so always be prepared.
Do not rely only on published information
Before you finalize plans for your business startup, it is wise to confirm the validity of the published information. Rules keep changing in free zones and also in the local Department of Economic Development for business registration. Do not go ahead until you have established the facts through a business set up consultant or by actually communicating with the relevant authority.
Do not pick a license category blindly
Business setup in the UAE and its primary cities of Dubai and Sharjah welcome all kinds of businesses. As businesses grow, they tend to evolve as well, which is why it’s crucial to pick the right license category when setting up your business. Always confirm whether your planned license category allows you all the activities that will be likely in the business model you are planning. Do not pick a license category that is too narrow.
Do not open a bank account without double-checking all the charges
Bank’s levy varying charges. For a business startup, these can amount to a significant sum for a bank-dependent operation. Always check & confirm the requirements and charges beforehand. Do not choose a bank based on only name & reputation.
Streamlining a startup
Streamlining businesses refers to reducing inefficiencies and time-taking tasks to achieve maximum efficiency. The world is evolving and becoming smart in terms of operational activities. Hence, everyone needs to do maximum work in a minimum amount of time to prevent time wastage. One can boost their business activities by streamlining the startup in these incredible ways explained below.
Methods to streamline
Since efficient operations are necessary for successful business practices, one must increase the startup’s operational effectiveness to remain competitive. Businesses can become more successful over time if they follow a few simple procedures to improve their business operations and processes.
One must examine the entire operation and look for ways to streamline and speed up the process if one plans to maximize workflow. Often, businesses can do this by getting rid of tedious or meaningless procedures.
People can also build their businesses on routine tasks that must be done regularly, such as identifying current business trends and technologies and designing strategies to achieve the required objectives. One can also streamline the startup by removing unnecessary activities to achieve maximum efficiency.
In a startup, one may find out that some activities are repetitive and can be automated if they are doing them manually. For example, scheduling posts, salary disbursement, maintaining employee payroll records, and even forming manual invoices. All of these activities can be automated by using specialized software. One can significantly reduce the workload with the use of automation tools. As a reward, they will get more time to invest in projects that generate income. Every business process has an automation tool for a good turn of events. Businesses can drastically change working hours if they can identify them and put them to use. Startups can conserve resources and time by using these tools.
2. Use of Technology
One can streamline a startup by using technology to boost the business and, for example, implementing SEO in a business strategy to gain maximum engagement. One can use digital media to enhance visibility among the target audience to get a competitive advantage.
On the other hand, one can use technology to enhance digital processes, such as electronic devices for video conferences and virtual communication spaces for remote teams, instead of renting out an office. This will help startups to save costs.
People can streamline their startups by saving a huge cost by hiring freelancers to perform specialized duties rather than hiring full-time employees. Freelancers can actively overtake critical business operations such as marketing activities, HR management, and business or financial consultation services at a minimum cost.
Outsourcing tedious tasks can save a lot of time and cost and make people boost productivity. One can focus on significant issues of the startup rather than completing projects which freelancers or outsourced agencies can efficiently perform.
4. Customer Relationship Management Tools (CRM)
One of the most promising ways to streamline a startup is to use efficient CRM software, which can help to run a business efficiently. This enables managers to enhance the day-to-day operations and use the most up-to-date tools to grow their company and engage in a substantially greater position. Because one may act as a significantly larger corporation with few resources, this strategy is excellent for startups.
5. Focus on employee training
Employees are the most valuable resource of a company. To streamline a startup, one needs to focus on extensive employee training to perform business activities. For this, hiring and training a skilled workforce is the crucial step. One should establish a strong ethical culture in a startup to motivate employees. Maintain a goal, train employees, measure success, and create a positive work atmosphere to satisfy the employees.
6. Hybrid or Remote Meetings
Many businesses waste valuable time conducting unnecessary meetings that never reach their outcomes. To shift the focus to prioritized tasks, managers can conduct hybrid or remote meetings via video conferences to save time. Moreover, meetings are significant for any startup as it fosters collaboration and feedback. One should encourage the team to attend meetings to record weekly business agendas and activities and monitor progress to evaluate the business performance.
Digital technologies provide modern and smart solutions to streamline startups. One can ensure business efficiency by focusing on these steps to streamline the startup. Businesses can save a lot of time by utilizing valuable resources most efficiently. Streamlining your startup also boosts productivity. Employees are more likely to be productive when businesses streamline operations. Employees have a better understanding of their daily tasks and expectations.
When businesses eliminate unnecessary tasks, employees can focus more on the overall performance of their output. By focusing exclusively on these smart strategies, one should streamline the business and gain a competitive advantage.
Why choose SPC Free Zone?
SPC Free Zone can assist businesses in streamlining their operations by providing various growth opportunities. With SPC Free Zone, businesses can be set up quickly and hassle-free.
We offer different setup packages depending on business requirements. These include obtaining a memorandum of association (MOA), Lease Agreement, Business Activity Certificate, and Trade License.
Moreover, SPC Free Zone provides licenses that include up to 20 visas. With SPC Free Zone, businesses can maximize their profits with zero paid-up share capital, low corporate and personal income tax, and 100% foreign ownership.
SPC Free Zone is here to help with your business setup in the UAE!