Business Advice from Top Entrepreneurs

If you want to innovate, build and grow your business, you must learn from the best instead of going through the trials of venturing with someone’s capital and spiraling it into a costly catastrophe. Every business requires a unique approach and more or less it has to be dealt differently. Fortunately, many entrepreneurs have already gone through the trials of business setup and are experienced enough in their business domains to help other young sampling growing to be the next top tycoons of their industry. Here are 5 tips of world’s leading entrepreneur that you can use to boost your business planning, create efficient strategies and build a robust company formation in your designated country. 

1. Understand the Market

Market research is what separates a good entrepreneur from a terrible one. You must remain in tune with what is happening in the market, what the competitor is offering, what key features you lack, the added benefits they offer and the procedural advantages your competitor has.

2. Work Hard

Putting efforts in a new business is exponentially harder than working for a job. To be a successful entrepreneur you must operate well across a variety of functions. This includes sales, marketing, finance, operations, HR, etc. But most importantly, creating an enterprise from scratch requires creativity, persistence and continuous learning.

3. Evolve and Adapt

Evolving with the situation and making adjustments is a crucial part of entrepreneurship. You must stay 2 moves ahead of the trends and learn with changing consumer behavior to stay up the competition and adapt to the rising tides of technology and commerce. Without keeping yourself updated you cannot cut through competition that is already years ahead of you. 

4. Keep Listening Game Strong

Having a good ear for clients is a golden quality. In the mist of everything, when everyone competes to get their message across, no one takes a moment to actually listen and understand the root problem of the process. Privilege clients with your listening ability and respond to them whole heartedly. This paves through many obstacles that are inhibiting the conversion process.

5. Find a Mentor

It’s true that most good leaders like to settle their learning by themselves. They either read books, visit seminar and conferences or just simply dive into the waters. However, great leaders always have mentors to coach them and help see things from a different perspective.

How to Get an Employment Visa in Dubai?

Getting a Dubai employment visa is not difficult at all. Now with online registration, fast track approval process, minimum paperwork and specialized department for each type of visa have considerably reduced the time and hassle that employees have to go through once they received their employment contract from Dubai. Here is a 5 step guide to getting you remployment visa in Dubai.

Step 1

When working on securing an employment visa for Dubai, the first step is to get an offer letter or contract from an interested party. After the documents have been secured from the business, the employment visa application can be started.

Step 2

Inform the sponsors that they will have to fill in and submit the sponsorship related documents for obtaining the visa. The Dubai Visa cost for the documents and processing have to be covered from the employer’s end. After they have been submitted and processed, the UAE Immigration Department will inform the applicant that the sponsorship papers have been completed.

Step 3

Undergo a thorough medical examination which covers screening of blood diseases, STDs, health abnormalities and other related issues. The health report will be required for submission along with 2 passport sized photos (35mm x 45mm), multiple photocopies of your personal passport, documents regarding the job offer and the employment visa application filled in by the sponsor.

Step 4

Acquire a Labor Card from the Ministry of Labor Office in Dubai by submitting all the required documents. The Ministry requires three photocopies of the employment contract, passport sized photo, medical files, multiple photocopies of the entry visa and labor license of the employer.

Step 5

Contact Dubai General Directorate of Residency and Foreigners Affairs to putting in a request for residence visa. Complete the provided resident visa application along with submitting documents which include photocopies of the employment contract, labor card, two passport sized photos, original medical certificates and original passport.

General Trading license in Dubai

The free zone business formation is one of the major attractions for foreign investors in UAE. There are more than 20 free trade zones located in Dubai and all of these free zones offer several business opportunities to investors in all major sectors including general trade, health, education and consultancy amongst others. While all the free trade zones in Dubai offer significant advantages to investors, the best free trade zone for a generaltrading license in Dubai is the Jebel Ali Free Zone (JAFZA).

Free Zone Business Formation in Jebel Ali Free Zone

Jebel Ali Free Zone is located near the Jebel Ali Port, which is the regional hub for business and trading activities. From affordable free zone company set up cost to ease of doing business, there are a number of benefits that investors can avail by getting a general trading license in the Jebel Ali Free Zone.

Here are some of the major benefits that investors can avail for setting up their business in the Jebel Ali Free Zone with a general trading license:

•         Minimum requirement of paperwork to set up a business in Jebel Ali Free Zone
•         100% Ownership of your business
•          Exemption from taxes
•          No visa restrictions for family and staff of the investors
•          Visa validity of three years for investors, their families and staff
•          Permission for both import and export of goods

JAFZA is the oldest free trade zone in UAE as it was established in 1985. The proximity to the Jebel Ali Port makes Jebel Ali Free Zone an ideal option for investors who are looking to obtain a general trading license in Dubai.

Dubai Trade License Cost in Jebel Ali Free Zone

The registration cost for a general trading license in Jebel Ali Free Zone depends on the type of company you are looking to set up for free zone business formation. You can set up an LLC, FZCo, FZE, PLC and branch of an existing company in JAFZA and the registration procedure and costs have been categorized differently for each type.

Requirements for Starting a Dubai Based Company

Dubai is truly one of the most sustainable cities in the world. Located in an oil-rich economy, the metropolis is home of UAE’s business core with more than half of the world’s conglomerates operating from its zones. With internationally recognized business structures, pro investment policies, world class infrastructure and abundance of company setup consultants, Dubai is every entrepreneur’s dream place for company setup in UAE. With the recent introduction of VAT and World Expo 2020 just around the corner, the transparency laws have significantly improved, attracting international companies to establish their offices and leverage from UAE’s economic boost.

Although opening a business into Dubai seems almost too easy, there are certain requirements every investor must see to before venturing in. 

Business Activity

Selecting a business activity is the first step of the process. Without separating your business objective, the investor cannot incorporate into a suitable company structure.

Visa

Once the activity has been cleared, the applicant must deposit an amount of AED 10,000 against a minimum investment of AED 70,000. After the documentation is processed and the visa is approved, the investor will gain a 3-year visa to start his/her company

Legal Form

Choosing the right legal form is imperative for the investor. A business that practices in the trade sector will have to go for free zonecompany formation in Dubai’s Jebel Ali, DMCC, or Dubai South. If your activity belongs to the services sector, then mainland company setup will be suitable. Dubai offers diverse legal structures such as Civil Company, Sole Proprietorship, Limited Liability Company (LLC), Public Shareholding Companies, Private Shareholding Companies or Branch Office.

Office Space

Thanks to the internet, getting office space in Dubai is no longer what a problem it used to be. You can easily search on the internet to find a suitable work space to rent with you specific requirements, or hire a professional consultancy company to seek an affordable space with flexible leasing plans.