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Who owns their own business?

16

Posts

EW NEWBIE

Latest post on 25 November 2014 - 17:49

Hello ladies
I want to start my own business and have lots of ideas. I was just wondering who has their own business on here and what do you do? Also any tips on having a business in Dubai?

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177

Posts

EW NEWBIE

Latest post on 01 December 2014 - 10:13

Hello ladies I want to start my own business and have lots of ideas. I was just wondering who has their own business on here and what do you do? Also any tips on having a business in Dubai? You need to have really strong nerves, patience, [b'>backup money[/b'>, knowledge of laws & if you are "all in one" entrepreneur, you need to be mentally prepared for tough time for 6-12 months. Dubai is kind of battle field for most of small businesses. Above all, ever changing corporates supporting government polices, and increasing number of your competitors is making business really tough. When I look around, specially some businesses on daily deal sites, I wonder how much more lower they will go....such sites have done a lot damage to business. To offer competitve prices, mostly businesses will deteriorate quality of service/products and how much lower they can go? For example, I can imagine offering a buffet of 100 dhs in 50 dhs, but how do I expect one buffet of 100 dhs in just 20 dhs and still expect same quality? Businesses are for profit, not a free entertainment or charity work....unless you can deal with all these things...you should not jump into business market. So many people lose money, in TRYING to do business.....they come with money to dubai, but leave under debt. Good luck !!!! Totally agree... about the backup money...my brother in law started business about one and a half year back... for the initial year they just paid out of their pocket ... even now the profit doesn't really seem worth it... but they hope to develop their company name well enough to be able to earn a decent profit soon.... so strong nerves and patience is also very important...good luck with your venture.... :) <em>edited by twirl1 on 01/12/2014</em>

237

Posts

EW NEWBIE

Latest post on 01 December 2014 - 01:11

Thank you so much ladies this information has been very helpful ????. I am planning to open an e commerce website selling party supplies. I believe I can set up a virtual office from Ajman which seems to be the cheapest free zone. Whatever you chose to do, try doing business set up by your self. These set up companies are mostly rip off. Once you pass through establishing "set up", you will know a lot for next time. If you let others do initial set up, you will still need to go through similar process each year for license renewals/visas etc. Good luck to you!!!

16

Posts

EW NEWBIE

Latest post on 28 November 2014 - 00:57

Thank you so much ladies this information has been very helpful ????. I am planning to open an e commerce website selling party supplies. I believe I can set up a virtual office from Ajman which seems to be the cheapest free zone. HI Summeya, Keep in mind when you have e-commerce license you can not have the product with you and deliver to the client. E-commerce basically selling voucher or ticket like dealgobbler or cobone. the customer will print the voucher and present it to the company stated in the voucher. If you want to have the product and deliver to the customer i recommend you to open a general trading License. Oh, I didn't know that ???? thank you so much for telling me!

22

Posts

EW NEWBIE

Latest post on 27 November 2014 - 11:52

Thank you so much ladies this information has been very helpful ????. I am planning to open an e commerce website selling party supplies. I believe I can set up a virtual office from Ajman which seems to be the cheapest free zone. HI Summeya, Keep in mind when you have e-commerce license you can not have the product with you and deliver to the client. E-commerce basically selling voucher or ticket like dealgobbler or cobone. the customer will print the voucher and present it to the company stated in the voucher. If you want to have the product and deliver to the customer i recommend you to open a general trading License.

16

Posts

EW NEWBIE

Latest post on 27 November 2014 - 11:12

Thank you so much ladies this information has been very helpful ????. I am planning to open an e commerce website selling party supplies. I believe I can set up a virtual office from Ajman which seems to be the cheapest free zone.

22

Posts

EW NEWBIE

Latest post on 27 November 2014 - 10:54

HI Sumeyya, To set up a business there are few option to consider, the most important where would you like to set up the company. Is it a free or non-free zone. In free zone allow you to have 100% ownership while in non-free zone or most people said LLC Company is limited you to 49% shareholder only means you need a local sponsor with 51% shareholder. oh ya I can help you in setting up your company , i work in one of business consultant in Dubai and we are work in various free zone and DED here.

22

Posts

EW NEWBIE

Latest post on 27 November 2014 - 10:53

HI Sumeyya, To set up a business there are few option to consider, the most important where would you like to set up the company. Is it a free or non-free zone. In free zone allow you to have 100% ownership while in non-free zone or most people said LLC Company is limited you to 49% shareholder only means you need a local sponsor with 51% shareholder.

48

Posts

EW NEWBIE

Latest post on 26 November 2014 - 17:00

Hello ladies I want to start my own business and have lots of ideas. I was just wondering who has their own business on here and what do you do? Also any tips on having a business in Dubai? You need to have really strong nerves, patience, backup money, knowledge of laws & if you are "all in one" entrepreneur, you need to be mentally prepared for tough time for 6-12 months. Dubai is kind of battle field for most of small businesses. Above all, ever changing corporates supporting government polices, and increasing number of your competitors is making business really tough. When I look around, specially some businesses on daily deal sites, I wonder how much more lower they will go....such sites have done a lot damage to business. To offer competitve prices, mostly businesses will deteriorate quality of service/products and how much lower they can go? For example, I can imagine offering a buffet of 100 dhs in 50 dhs, but how do I expect one buffet of 100 dhs in just 20 dhs and still expect same quality? Businesses are for profit, not a free entertainment or charity work....unless you can deal with all these things...you should not jump into business market. So many people lose money, in TRYING to do business.....they come with money to dubai, but leave under debt. Good luck !!!! Dubai isn't a good place to start your own business unless you have an unlimited income. Just like mentioned above, most people lose ALL their money. Be careful and good luck!!

237

Posts

EW NEWBIE

Latest post on 26 November 2014 - 14:53

Hello ladies I want to start my own business and have lots of ideas. I was just wondering who has their own business on here and what do you do? Also any tips on having a business in Dubai? You need to have really strong nerves, patience, backup money, knowledge of laws & if you are "all in one" entrepreneur, you need to be mentally prepared for tough time for 6-12 months. Dubai is kind of battle field for most of small businesses. Above all, ever changing corporates supporting government polices, and increasing number of your competitors is making business really tough. When I look around, specially some businesses on daily deal sites, I wonder how much more lower they will go....such sites have done a lot damage to business. To offer competitve prices, mostly businesses will deteriorate quality of service/products and how much lower they can go? For example, I can imagine offering a buffet of 100 dhs in 50 dhs, but how do I expect one buffet of 100 dhs in just 20 dhs and still expect same quality? Businesses are for profit, not a free entertainment or charity work....unless you can deal with all these things...you should not jump into business market. So many people lose money, in TRYING to do business.....they come with money to dubai, but leave under debt. Good luck !!!!

4000

Posts

EW MASTER

Latest post on 26 November 2014 - 11:05

I think in Dubai as anywhere in the world one thing is essential, you must have a passion for whatever business you plan to do, without that you will not have the motivation to slug it out long haul through all the set up and everyday challenges that are bound to come. To help you estimate cost there's a handy wizard on the Dubai Economic Dept website that will give you a good picture of basic set up licensing costs and requirements. First you will need a trade license and a registered company to sell your products. If you run your details through it will give you a good idea of what will be required and costs. In the first window you scroll down to the type of trade then follow the prompts on each section. Go to e-services then click on estimated cost of issue licence http://eservices.dubaided.gov.ae/Pages/Anon/Simulate.aspx?cpid=3000&PID=10101&LID=&sname=Estimated_Cost_of_Issue_License&srp=-1&sfn=-1 http://www.dubaided.gov.ae/English/eServices/default.aspx Best of luck with your venture! hth

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