Entrepreneurs look for opportunities to maximise profits in today’s technologically advanced world. Globally amongst the ideal countries for business setups, the UAE ranks at the forefront. Company formation with an idea in relation to novel niches, including artificial intelligence and virtual reality, is increasingly taking precedence.
A business setup in Sharjah, Dubai, and Abu Dhabi is among the top preferences for most businesspersons. The reason is the robust infrastructure and pioneering innovations of the UAE.
If you are a business person looking to set up a business in the UAE, then read on. In this blog, we will explore.
- Why establish a business in the UAE?
- Upcoming business trends – 2023
- Why choose SPC Free Zone?
Why establish a business in the UAE?
The UAE is amongst the most preferred locations for business setup. In 2019, the inward flow of foreign direct investment (FDI) amounted to US $17.87bn. Moreover, in 2025, the import of volumes of goods and services in the United Arab Emirates is forecast to grow by 2.09%.
With increased foreign investments and business setups, rules and regulations have been eased. The numbers and lucrative opportunities offer entrepreneurs avenues for unparalleled growth.
Upcoming top business trends – 2023
Following the pandemic of 2020, the business landscape has observed drastic changes. In the upcoming year, business trends are expected to take unprecedented directions. Following are key trends that entrepreneurs should be vigilant of in the forthcoming year.
- AI-focused marketing
In the year 2023, the trend of marketing for businesses is expected to change. Artificial intelligence (AI) is leading the way for a deep and automated understanding of consumer decisions. Data collection is going to play a pivotal role in this regard.
The technologically focused marketing trend is not new since data has guided marketing decisions for a long time. However, technological advancement has made the process easier for businesses in the past few years.
The pandemic of 2020 has globally influenced the landscape of marketing. The advent of artificial intelligence has added cutting-edge advancements in business marketing. Non-adopting businesses are expected to face a drastic drawback given the premonition of innovating technology.
Artificial intelligence does not solely focus on data; instead, it aims to understand the usage of language that encourages action. Businesses worldwide focus on personalising user experience at a granular level. Artificial intelligence’s potential for businesses in the near future is immeasurable.
- Hybrid-work environment
Following the onset of the 2020 pandemic, smart working, also known as hybrid working, has changed norms. Almost 70% of UAE firms have now come to believe that failing to address hybrid work environments and strategies will lead to an increase in turnover amongst employees and an inability to recruit new talent.
The UAE is focused on pioneering strategies to retain talent and improve workforce function. Innovative concepts like smart city development and infrastructure improvements are the vision for the future.
Sustainable environments for businesses that maintain a healthy work-life balance are increasingly becoming the norm. The Emirati government’s vision states that creating a sustainable environment is its utmost priority. The advent of smart living will require smart working conditions. Innovative working methods and tools are believed to be the empowering source of this change.
- Global Workforce
The UAE is considered a mosaic of different nationalities. Most corporations instill a sense of a global workforce in their office. According to a 2022 statistical survey, the UAE’s population of expats comprise 27.49% India, 12.69% Pakistan, and 7.40% Bangladesh among more.
Incorporating a business in the UAE demands compliance with global workforce methods. This notion allows firms to tap into talent across multiple nations and time zones. Moreover, it provides for communication barriers to be bridged across countries as a multilingual workforce interacts and forms a robust network at an international level.
A shift towards a global team allows for an emphasis to be placed on workers’ skills and not just their location. Thereby the creation of a global workforce is a viable business trend for the upcoming years.
- Virtual Reality & Artificial Reality
According to experts, the integration of virtual reality (VR) and artificial reality (AR) is among the UAE’s best business practices for the future. While VR provides users with an immersion in a computer-generated environment, AR brings forth digital elements in a real-world environment.
Both technologies are used comprehensively in various industries, such as gaming, healthcare, education and retail. Experts believe the high-end potential of both technologies will eventually change the business landscape over the next few years.
Why choose SPC Free Zone?
Located in the heart of Sharjah, at SPC Free Zone, our primary goal is to facilitate entrepreneurs in their journey. We understand how setting up a business that aligns with upcoming trends can be tumultuous for most. To ease your journey, we offer fast and flexible business setup packages.
With SPC Free Zone, you can also choose from more than 1,500 business activities and take advantage of up to 100 visa quotas. Our customers benefit from a whole string of benefits like zero paid-up share capital and 0% corporate and personal income tax. With immigration services on-site, you can also get your licence issued in less than 45 minutes.
Ready to set your business in line with the trends of 2023? Reach out to our friendly team for a quick and easy setup service.