Top 10 company formation ideas
As per the latest reports from UAE’s licensing authority, trade license issuance has seen a 45% jump in 2020. With the landscape changing quickly, we are seeing a colossal shift of businesses online. Social distancing and COVID-19 have accelerated the expansion of online searching by 4-6 years.
Business owners in UAE and from all round the world had to remodel their structure and find out new opportunities to flourish throughout the pandemic. Whereas this can be the new way of doing business currently, there’s no telling when things can totally be back to normal. However, that doesn’t mean that new businesses shouldn’t open during this difficult time. Many SME businesses are flourishing throughout this new normal.
Ideally (and for you to succeed), a good business plan should include 3 things:
- It ought to be one thing you prefer doing,
- It ought to be one thing you’re good at, and
- It ought to be one thing that’s in demand (i.e., people would pay for it).
Tomorrow’s businesses should be swift and elastic, embracing digital and virtual technologies to evade disruption wherever possible. Considering all these, here are 10 business ideas to setup a business in dubai with the potential to thrive in 2021 and on the beyond.
1. Online teaching
Schools and universities are among the worst hit by coronavirus, with exams canceled and face-to-face lessons deferred, in some cases indefinitely. The UAE was among many countries to implement mandated distance learning. As a result, students are dependent on virtual lecture rooms and online teaching to continue their education. A recent report found that as students become aware of virtual learning, there’s a growing chance for those with the abilities to supplement formal education through online tutoring and teaching. And, with the proper support, getting started is easy. All that’s needed is a laptop/computer, an internet connection, and proven qualifications in your chosen field.
2. App development
The app business is one of the many to prosper throughout the coronavirus. And now consumers know what is doable, they are highly unlikely to want to return to the old way of doing things.
UAE residents have turned to apps to urge their fix of everything from food and grocery delivery, to e-learning, health and fitness, remote operating, and even psychological state support.
In response to a ‘new normal’, low code app development has become more popular in the recent months. These apps, which can be designed with negligible coding knowledge, are here to stay and have lowered the barriers to entry for a new breed of developers.
3. Online consultancy
Just as the education sector has had to adjust from face-to-face to screen-to-screen, so too has the majority of the business world. Businesses from round the world were tasked with creating the switch to virtual environments, with business homeowners, employees, suppliers, and others operating remotely. For many, this proved to be an eye-opening expertise.
More businesses currently acknowledge what several already knew – that virtual operating is simply as productive, if less therefore than the normal office-based approach. Knowledgeable consultants will cash in on this newfound trust in virtual support by providing online services and consultations.
Podcasting is witnessing a meteoric rise. Back in 2006, solely 22% of adults listened to podcasts. Currently that range is over 75%.
It has also become a large money-making business. Recently, Joe Rogan was paid $100 million to shift his podcast completely to Spotify.
5. Web Development
There are over four billion web users within the world and 6 out of 10 have a website. Front-end internet development may be a valuable talent to cater to the increasing demand for launching new websites.
You can begin by developing websites for your friends and family to shine your skills. While there are a lot of website builders that can help small businesses develop their websites, developers are needed for more custom jobs (and new businesses are always looking for efficient coders at cost-effective prices).
6. Cleaning services
Cleaning firms have with reason seen a surge in demand since the spread of coronavirus. Disinfection and sanitization is now more important than ever as more and more of us venture out of lockdown to workplaces, cafes, and hotels.
The world’s largest hotel companies have all declared new comprehensive cleaning playbooks in response to the coronavirus. For cafes, bars, employers, workspaces and hotels, the only way to re-establish trust is to guarantee the highest possible level of cleanliness. If you’re able to deliver this level of sanitization, you’re likely to see demand for your services for many years to come.
7. Affiliate Marketing
Affiliate Marketing has been a buzzword in the marketing arena. When someone asks how to make passive money online, a lot of people spontaneously envision affiliate marketing. Brands that want to sell products online create new affiliate programs and allow affiliates (publishers and bloggers) to endorse their products and earn commissions.
According to one blog income report study, bloggers making between $7,500 — $25k per month make 38% of their income from affiliate marketing.
8. Home Catering/ Meal Prep
If you’ve always wished-for owning your catering/ food delivery service, the global pandemic is the best time, as people are greatly dependent on home deliveries. According to Restaurant.org, consumers increased their takeout spending during the pandemic in 2020, and the numbers are predicted to continue increasing.
While it might not make sense to open a traditional restaurant right now, you could come up with meal prepping or catering services. Many individuals are looking for healthy or restaurant-quality meals delivered to their doorstep. This means you could hire “servers” who deliver food or even create a food truck of sorts that hits all the major areas in your county or city.
9. Food Trucks
With indoor dining restricted in many locations right now, aspiring restaurateurs might find more success with a food truck. Food trucks come in all shapes and sizes, serving up a wide range of snacks and cuisines. Take your favorite style of food on the road and sell your culinary passions directly to hungry customers. Sure, you’ll be working, but you’ll be in a space you’re passionate about, with a chance to connect with people who have similar interests.
Food trucks might sound like a wild idea, but the industry is growing. The overhead and upkeep for a truck cost considerably less than owning a restaurant, and you have the added benefit of mobility.
10. Tourism Services
Even though the majority of the world is still under lockdown, UAE has been on top of the travel bucket lists. In December 2020, the city saw tourists flock to UAE to escape lockdowns in their parts of the world. Research also states that the hotel occupancy rates have increased to 71% by December and will continue to rise. Therefore, small businesses contributing to tourism services and lifestyle management are blooming.
Whatever your industry, remaining flexible and accepting digital technologies will be key. We may well be living through a once-in-a-lifetime experience. But unprecedented times bring with them unprecedented lessons, and the entrepreneurs of tomorrow must seize the opportunity to learn.