For someone aiming at making good money in life, starting a business is perhaps the best way to go at it. It also allows you some level of control what it comes to your time. Service businesses and their contribution to the GDP have been rising recently and more so in Dubai which is why starting one there has not seen a better time. Dubai has many free trade zones that have little or no taxation and it the process of setting up a business is straightforward. The government’s focus on growing small businesses is an added bonus.
However, not all business ideas are viable. You need to be able to know where you can invest your money and time without unnecessary risk. Here are a few of those opportunities you can take advantage of in Dubai:
- Financial services business
The UAE houses many large businesses, which means that there is a high demand for professionals who will offer financial services to these organizations. There is need for external auditors, bookkeepers and accountants so anyone with a background in any of these would be well suited to take the opportunity.
- Consultancy services
You could solve a money problem for yourself by solving problems for other people and businesses if you are the kind of person that people look up to for solutions. You could do this at a fee. Businesses constantly find the need to consult more so in areas that are out of their core business functions and they are more than willing to pay for these services.
- Security services
Relative to other developed nations, the UAE has the privilege of less security concerns and yet, no business owner is willing to take chances with his assets. This means an opportunity for anyone who can provide security guards.
There are also opportunities to make money through the sale of security devices like surveillance cameras and alarm systems.
- Tourism and hotel management
The increase in five-star hotels in Dubai is not a coincidence. It is as a result of Dubai’s position as a leader in the world for tourist destinations. It hosts thousands of tourists per year on either long or short vacations. This opens up huge opportunities for businesses to meet their needs either directly or indirectly.
- Travel agency
Since Dubai is one of the major destinations for tourists in the world, a travel agency is an excellent idea for a business. In addition to the tourists, the total population of the place is packed with expatriates from other countries.
- Entertainment houses, bars, and night clubs
People in Dubai are always busy but they appreciate some free time and blow off steam after work by having social drinks in bars in the evenings. An entertainment scene targeted at the night-active working national could prove to be a rewarding enterprise. It could also target the large number of expatriates but it will require some great deal of thought to set up.