UAE is a land of opportunities and the business ecosystem in the region is conducive for easily setting up a new business. Additionally, new business ideas will help entrepreneurs to start a company in Dubai.
The world around them is changing constantly and businesses are adapting by launching new business ideas that are profitable in the market. Industry sectors such as Tourism, Hospitality, Event Management, etc., are ideal sectors to start a company in Dubai.
To cope with the fast pace world business owners must look at innovative ideas to achieve sustainability. There are a few key areas the organizations must focus on for realizing their business ideas profitably.
New Business Ideas in Dubai for Starting a Company
In industry sectors such as hospitality, tourism, food & beverage sectors, investors must look at new business ideas for starting a company. It will help them be unique from the competitors and other players in the market.
This article covers the important business sectors and new business ideas for starting a company in detail. While choosing new business ideas for starting a company, the entrepreneur must focus on business ideas that will help in overall productivity and betterment such as:
- Faster recovery of revenue
- Easy Re-building of business operations
- Flexibility in changing the current business model, and
- Adapting to digital technology seamlessly.
Presently, organizations across various sectors see a drastic shift in their fundamental business operations. For example, tourism, hospitality, travel companies, real estate, and shipping, were a few strategic sectors that had felt the impact hard during the pandemic.
Hence, Investor in these sectors must re-strategize their current business operations and bring in new business ideas to start a new business. They must become more become leaner and innovate the way they conduct business to reach out to more customers effectively at a lower cost.
Business Ideas and Technology Adoption in UAE
New business ideas for starting a business in 2023 must-have technology adoption as a key focus area. For example, the Services Industry must look at ways to migrate to 100% online services. They can offer online consulting, online payment systems, online service delivery, etc.
Similarly, companies must leverage technology to connect with clients and meet their demands. IT & Consultancies can use technology to remotely reach out to their clients. The new company must have a business idea that will easily help gain more customers and business growth.
In UAE, presently, the following technologies are put to use as part of new business ideas.
- Remote Networking,
- Screen sharing,
- API integration
- File Sharing,
- Website & App Development,
- Software development,
- login accounts, etc.
Similarly, trading companies can restructure their supply chain and distribution network. Finding alternate markets and local distribution networks could help them get short-term gains.
7 Top Business Ideas in Dubai for Starting a Company with low investment
The following key sectors in the UAE are ideal for applying business ideas to start a business in 2023 with a low investment. The companies are anticipating growth and demand in the coming months and are reviving from the slowdown caused by the Pandemic. The following are the 7 business ideas in Dubai that investors can easily setup with low investment:
1. Domestic and International Tourism
Companies in the domestic and international tourism sectors will have to enhance their capacity to welcome the visitors to UAE. There are new business ideas in Dubai for starting a local tour company.
Local tours are going to become a popular choice for many travellers. Hence, the tour operator can launch special offers and packages promoting local tourism.
Similarly, international travel is opening up completely. So, entrepreneurs in the tourism sector can launch interesting tour programs to new destinations for the travellers.
2. Hospitality Sector
The hotels in UAE are all ready to welcome guests year-round. Most hotels have increased their beds, rooms, and amenities to accommodate the increasing flow of tourists.
Hotels in UAE introduce innovative business ideas to gain more bookings like event sponsorships, travel discounts, and more.
The hotels in Dubai will witness a high booking rate during the six months from October to March due to the winter climate. Many hotels are adding up the infrastructure to support the requirements of the tourists.
3. Food and Beverages
The food and beverage sector in Dubai will witness the largest demand ever from the world-class event. There will be a constant requirement for food and drink at various events happening during the winter months in UAE.
Also, the visitors will be heading to Dubai and other emirates to experience the diverse cuisines and restaurant formats ranging from five stars resorts to food trucks.
New business ideas in Dubai such as conducting corporate events, clubbing events, etc., will attract a diverse crowd. It will help in boosting the Food and Beverage sector in UAE.
4. Events and Entertainment
There will be a refresh to the event and entertainment sectors with live music, dance, and other entertainment programs around the clock.
New business ideas in Dubai pertaining to the events & entertainment industry such as live performance, special screening, laser & light show, etc, will invite a new audience to the shows and helps the show to be profitable.
The events sector will be in high demand for about 6 months when everyone can go out without the extreme heat. Also, the visitors will be eager to watch what UAE has in store for them.
Hence live and virtual entertainment and event industry will see an increase in books during the last quarter of the year. Metaverse, in entertainment and event sector, is going to be a next big thing.
In Dubai, UAE there are already Metaverse Service Licenses available for businesses to opt from DMCC Free Zone. There is scope for various events and entertainment aspects in the Metaverse space that will become a reality in the future.
5. Small and Medium Enterprises
The new brand registration and company formations are on the rise in anticipation to contribute significantly due to year-ending offers.
The companies are expanding to new markets and geographies to grow their business. The growing business infrastructure in UAE and the brand’s expansion mode are ready to cater to the winter month requirements.
The various trade shows, business events, etc., conducted in Dubai are perfect avenues for small and medium companies to network. They can attend events in UAE to build a relationship with clients and customers around the world.
6. Real Estate
The real estate sector in UAE will witness a growing demand from international visitors. The ultra-luxury real estate in Palm Jumeirah will have more international buyers intending to get a plot or piece of luxury apartment for them.
Even moving down to the mid-range and affordable properties in UAE will have a high rental yield. As, there is market confidence in UAE post the pandemic to be a safe place to live, work and settle.
Hence, the real estate market is a sector that will grow significantly over the coming years due to the demand from foreign investors who wish to settle, work and live in UAE.
7. Cleaning Services & Engineering-MEP Works
The engineering, mechanical, electrical, plumbing works, and cleaning services are always in growth mode. It is driven by the rise in demand for construction projects in the country.
As more visitors, job seekers, and investors settle in UAE, and businesses expand to new office spaces, there will be a growing requirement for cleaning services & MEP works.
Growing Start-up Opportunities in Dubai
Here are a few Free Zones that support the startup opportunities in Dubai and UAE as a whole. The Free Zones play a vital part in providing business support and facilities for a start-up to grow seamlessly.
Investors can set up a startup company in Dubai or any Free Zones in UAE through the available low-cost company package. They can easily turn their business idea into reality by opening a company in the UAE Free Zones at minimal company setup cost.
1. Dubai Technology and Entrepreneur Centre
The Dubai Technology and Entrepreneur Centre offers a range of attractive business setup options for start-ups and entrepreneurs.
The start-up ecosystem offered by DTEC is beneficial for new entrepreneurs to easily test and launch their products and services in UAE.
There are a series of incubators and business investors in the start field to power innovation and speed up the new technology adoption in the region.
To know more about it, visit DTEC Dubai.
2. Dubai Silicon Oasis – IFZA Dubai
IFZA Dubai offers low-cost business setup packages for investors in Dubai. IFZA has a wide range of business activities that the entrepreneur can choose from for setting up a company.
From the shared desk to the executive office, IFZA has customized office solutions for all categories of business investors.
The 100% foreign ownership, Full Profit Repatriation, Easy business setup, etc., make the Free Zone a favorite choice for business investors.
3. Sharjah Media City (SHAMS)
Sharjah Media City is one of the most competitive Free Zone in UAE. SHAMS is located at a strategic location close to the Sharjah International Airport and is well connected by roads to Dubai and the neighbouring emirates of UAE.
The Free Zone offers attractive Multi-Year License Packages for business investors. It also offers a special media license for Freelancers in the field of marketing, art, media, creativity, and many more.
The wide range of business licenses and activities offered by the Free Zone makes it a perfect choice for all types of investors. From general trading licenses to media licenses, there are diverse companies registered in SHAMS.
Business Ideas and Starting a Business in Dubai
There are multiple business ideas for investors to start a business in Dubai. The Free Zones, Dubai Economy, and other infrastructure support, etc., provide the perfect platform for starting a business in UAE.
There are a lot of options for setting up a company in UAE. This is where expert Business Consultants like AURION will be of great help. Our team of experts will guide you to the right Free Zone by analyzing your exact business requirements
Contact Us: Aurion Business Consultants