Top 5 Business Startup Ideas
The year 2022 has seen a lot of rapid developments in terms of businesses. Individuals across the globe are looking for opportunities that can assist their growth. If you plan to widen your horizons and have a plan for a business setup in Sharjah, let us help you brainstorm some ideas.
In this article, we will talk about the following.
- Business startup ideas
- Why choose SPC Free Zone?
Starting a drop shipping business
Amongst the most accessible and low-cost options for company formation, drop shipping is an ideal choice. Drop shipping is essentially a fulfilment model wherein a third-party supplier stores and ships the inventory to customers on behalf of another company.
It is amongst the best business startup ideas because it has low overhead costs, is hands-off and scalable. As a drop shipping business owner, you would only need to handle products with others. You only need to make the sales and pass the orders on to the suppliers. It is among the most seamless and quickest ways of starting a business.
Related Article: Startup Do’s and Don’ts in UAE
One way a drop shipping business can be optimised is by curating products from one or more suppliers in an online store under a theme that is specific to a particular niche. Some examples could include gear for gym enthusiasts or water bowls for cat owners. When a customer purchases from the website, the order is sent to the supplier, who then fulfils it on your behalf.
However, you will be responsible for marketing and customer service as a drop shipping business owner. Dropshipping business owners can work with an extensive range of local and overseas suppliers as long as a relationship is built on trust. An unreliable supplier can reflect poorly on your business, which is why robust research is necessary.
Another reason why a drop shipping business is an outstanding opportunity is that it can be utilised to test product-market fit before launching a business. Once the data has been obtained, you can invest in your original product. Before beginning the journey, however, it is essential to order a sample for yourself to ensure the supplier’s reliability and the quality of the products.
Selling print-on-demand posters, mugs and cards
Customised cards with printed texts are the new talk of the town. However, the limitation is not imposed on just greetings; nowadays, individuals are interested in buying customised mugs, posters and notebooks.
As a business owner, if you are artistically inclined or have an idea about the usage of a camera, you can dropship a print-on-demand business model to allow others to own a physical piece of your work.
Before moving forward with the business structure, it is imperative to remember that you will need the right to the content that will be printed. Moreover, if there is a public domain asset that is being used. In that case, rights for free monetisation need to be obtained.
This small business idea is a lucrative opportunity for those who have an engaged online following. For example, urban photographers or cartoonists can reap substantial benefits from this business idea.
Depending on the printer one works with, the product can be turned into posters, framed wall art and even greeting cards. Numerous low-cost digital templates and mockup generators exist today that can be used to showcase products without having to print each item.
Establish an Artificial Intelligence (AI) company
Amongst the business startup ideas of 2022, establishing an AI company is a phenomenal choice. The world is rapidly turning its attention towards Artificial intelligence as it seamlessly shortens the time required for industrial functions.
The statistics show that it is an ideal time to start an artificial intelligence business in the UAE. Various industries like businesses, healthcare, and hospitality have integrated AI-related resources into their infrastructure. By 2030, the Middle East is expected to tune USD 230 billion using AI.
In order to establish an AI company, you will need to name your company, obtain a license and visa. If you decide to set up the company in the free zone, the visa application will be a part of the company formation process and will be managed accordingly. Keep in mind that you may require further documentation along with biometric and medical examinations.
Selling handcrafted and homemade goods
A small business idea based on your talent for developing and procuring products can serve you well. Among the vast array of options for small businesses, one of them is to sell handcrafted and homemade goods. If you are good at making DIY soaps, candles or pottery, then your craft can assist you in achieving a unique position.
It would be best if you considered shipping and inventory management to create a small business setup with DIY products. However, another option is to work as per-order is received or when a small batch is ordered. Follow this until the flow of orders becomes consistent.
In this regard, as a new entrepreneur, one will need to be careful about the regulations upon product category, especially if it is going to be eaten, inhaled or topically applied by the customer.
Become an influencer
The digital world has had an extensive influence on the economy of nations worldwide. Well-known digital creators and social media influencers are located in the UAE, making it a viable business option to explore. For those who are avidly interested in social media, becoming an influencer in the UAE is an option.
In order to make this line of work transparent and more professional, the UAE government has introduced new rules and regulations. The rules are not limited to Instagram, Facebook and Twitter users; instead, vloggers and bloggers must abide by them as well.
You will need a permit to establish your business as an influencer in the UAE. A more cost-effective option to obtain one is by applying for it in a free zone. The cost for the license in Sharjah is around AED 5,750.
Why choose SPC Free Zone?
SPC Free Zone helps provide business setup services to company owners in the United Arab Emirates. Our services include the opportunity to opt for a dual license for the mainland and the free zone. Each license can include up to 100 visas, too. Moreover, businesses can maximise profits with zero paid-up share capital, and 100% foreign ownership.
SPC Free Zone also provides a general trading and e-commerce license for all commercial activities. We aim to give business owners the tools and knowledge they need to navigate their way.
SPC Free Zone is here to help with your business setup in the UAE!