A Guide to Setting Up a Business in Dubai with Zero Capital

Dubai is a city where everyone dreams about starting a business, living in the city, or going for a vacation It is one of the favorite destinations among citizens of every country. As it attracts global tourism, it is best to start your business in Dubai regardless of what business you want to start. Now, you may be thinking starting a business in Dubai costs you a lifetime of savings, right? But, well, this is not true You can start your business in Dubai with less capital or zero capital.

At Make My Firm, we help you start your business in Dubai with the right advice and no extra money for unnecessary services

Let’s start our reading with which sector you can start your business in Dubai without much investment.

● Consulting business: If you are someone who has knowledge about business, finances, and trade, then it is best to start your consulting business In an early stage, it only requires your time and expert advice, and these two won’t cost you much. After a certain period, you can gradually update your office premises can hire staff, but at an early stage, you can start your business with zero capital or less capital

● Freelancing business: Nowadays freelancing is the best business opportunity, and Dubai has a growing demand for it You can start your freelancing business with a laptop and your precious time These two can lead you to earn money by starting your own business.

● Digital marketing services: In the 21st century, it is necessary to make your online presence heard and known by everyone And if you are someone who has good SEO skills, writing, marketing, content creation, and social media marketing skills, then your future is bright You just need a small room or shared office space, and you can start your marketing services. Everyone from a small startup business to a big corporation needs a marketing genius By starting with a small investment, you can elevate your business to bigger heights and achievements.

● E-commerce business: Starting your e-commerce business is the best and easiest way to earn for yourself As of now, there are many platforms that allow you the opportunity to sell your expertise, like Shopify, Amazon, Etsy, eBay, etc. In easy steps, you can create your store on any of these platforms and sell and earn money from the same

● Property management service: If you are someone who can negotiate the deal, manage all the services, and communicate between two parties, then property management services are the best business opportunity for you to grow. Dubai has a vast real estate business, and one can surely benefit from it by selling, renting, and offering maintenance services all in one place

● Import/export: As mentioned above, Dubai is the best location for citizens in every country, and with that, it also offers the best geolocation for trade too If your interest lies in import/export and has little investment opportunity, then import/export business is the best opportunity for you.

After you’ve read about the sectors you can start your business in, there are few opportunities through which you can get funding in Dubai.

Once you finalize the sector you want to start your business in, then is the step to reach out to people or places from which you can possibly get funding Here are 3 ways that help you get funding for your business

1 Crowdfunding platforms in Dubai: As per the growing startup industry, the Dubai government recently started crowdfunding activity for the public and private sectors. With this, you can raise a small amount of contribution from different people

2 Business loans and grants: Some banks in Dubai help you start your business with programs like the Mohammed Bin Rashid Fund and Dubai SME. They provide financial assistance and interest-free loans for startups

3 Startup competition: In Dubai, there are some startup competitions that help you win prizes from challenges as well as offer mentorship. The Dubai government started the Dubai Smartpreneur competition to help entrepreneurs start their businesses with little financial help

Now, this is the last stage that helps you start your business in Dubai. Below is a step-by-step guide that navigates you in starting your business in Dubai.

Starting a business on a budget works best when you plan everything accordingly Strategic thinking or expert advice always helps you navigate things properly without losing a single dirham. You can contact Make My Firm, and we will help you at every step.

1. Choose your business idea: This is a very crucial step, as your business depends on this step The first step always counts on how much capital you have, and what your skills are, and, based on that, select your business sector.

2 Choose the right business model: You must select a business model that aligns with your budget There are mainly three types of business models

– Service-based business: This model depends on your skills, as you have to provide expert guidance to someone

– Online business: E-commerce business setup falls into this category You have your things, and now you want to sell them, so this business model is perfect for you

– Freelance permits: The freelancing business model is the best when you want to work alone and have mastery in marketing skills

3. Select a cost-effective location: You might be aware that Dubai offers different benefits as per different zones

– Free zones: Free zones are perfect for new businesses as they offer startup-friendly packages with reduced fees.

– DED instant license: The Dubai Department of Economic Development offers you a free license for a year without having any office or rental space

4. Register your business: After finalizing everything, register your business with the necessary trade license as per your business model, like professional, commercial, or e-commerce Go through all the plans that help you reduce costs.

5 Utilize free and affordable resources: There are many options through which you can save money Dubai has shared office working space, and Freezone has some additional benefits for business owners. Explore all these before doing paperwork or giving commitments

6 Start small and scale globally: At the start, you may have a small office or just you navigating your business, but with time, expand your business and reach new heights

Conclusion

Starting a business may be the biggest challenge one can think of in life, but with the right strategies and advice, everything can take place We hope this information helps you in your business setup in Dubai. However, if you get stuck anywhere, Make My Firm is always happy to help you. Our expert team guides you at every stage without affecting much of your wallet