Free Zone News – Top 5 Business Activities Right Now
The UAE economy is set to achieve an increased growth this year and into 2019, fueled by proactive government initiatives to gain long-term equilibrium in the market while generating a good GDP percentage in the coming years. It is high time for budding entrepreneurs and business enthusiasts to be proactive in taking advantage of the current growth scenarios. And yes, to start their companies now that the market is in its hottest drift.
The gap that needs addressing at this point is finding where your business perfectly fits. Whether your business activity needs a physical presence or not, as this has a significant impact on how you appeal to the market and make a positive first impression.
Free Zone authorities are widely known for contributing to the UAE’s diversified business ecosystem. Fujairah Creative City Free Zone has a diverse portfolio of business activities available for entrepreneurs. To highlight this point, here are the top five business activities that are available in the Free Zone.
- Management Consultancy
Management firms help businesses improve their performances in the market by developing relevant management strategies and identifying typical and unforeseen problems that business owners often overlook. A management consultancy generally uncovers the best practices and offers professional advice to organizations. Management consultancies are on trend because this is the era where competitiveness in the industry is necessary to keep your business intact in the long run. If your passion involves helping find solutions to organizational dilemmas, this is your chance to start a successful management consultancy in Fujairah Creative City Free Zone.
- Events Management
People often ditch the idea of the hefty planning and execution of events not only because it’s too overwhelming, but it’s mostly due to the time-consuming nature of the business. And in an increasingly busy environment, people would much rather hire an events management company to do the nitty-gritty work than contribute more stress to their already hectic schedules. If you’re a creative and passionate person who loves planning, conceptualising, and coordinating small and large-scale events, make use of your talents and start your own events management business. BIZ highly encourages and supports creative people from all parts of the events industry with flexible packages and ongoing business support services.
- Hospitality and Travel and Tourism Management Consultancy
In recent UAE economic news, the hospitality and tourism sector is one area experiencing a surge in profitability. Dubai welcomed 15.8 million tourists in 2017, which constitutes a 6.2 percent growth over the previous year. Needless to say, starting a full spectrum consultancy firm in this sector is undoubtedly worth venturing into.
- IT Consultancy
The fast-paced digital era has escalated profoundly in the GCC region with the emergence of various technologies such as Artificial Intelligence (AI), Big Data Analytics, Robotics, Cloud Computing, and the Internet of Things (IoT). And through greater global competition, wishing to be the next innovator and visionary in the world of technology, it has, without a doubt, triggered interest from many like-minded individuals to the UAE. IT consultancies provide future business innovators with concrete decisions, align objectives, and explore growth possibilities. Starting an IT consultancy has a distinct advantage because this business activity provides cost-saving and growth solutions for businesses. With a proactive government supporting budding innovators, tech-savvy individuals, and entrepreneurs, IT consultants are guaranteed a keen client base.
- Accounting and Legal
With the inception of the Value Added Tax (VAT) and the Federal Tax Authority’s rules stating that all UAE businesses must keep financial records—current and in order—this activity is perhaps the fastest growing in popularity. Moreover, for entrepreneurs who are new to the business industry, a lawyer’s guidance is a must to avoid legal implications that may arise. Seeking legal advice in decision-making for your business always prevents unexpected drawbacks.
After sifting through the top five business activities in Fujairah Creative City Free Zone—one of the oldest and well-established Free Zones in the UAE—it’s time to answer the frequently asked question, “How do I start a business in the Free Zone?”
Being knowledgeable about your preferred business activity is not be enough. You have to know every detail of the Free Zone laws and regulations to grasp a greater understanding of the process of setting up a business. These regulations can be overwhelming without seeking professional advice. If you are clueless about company formations in Fujairah Creative City Free Zone, it is recommended to speak to a Business Setup Advisor who can give clarity to your queries, eradicate confusion, and set your expectations.
Business Incorporation Zone (BIZ) exists to make business setup in Creative City Fujairah uncomplicated, fast, and hassle-free. It acts as the official Dubai representative office of Fujairah Creative City Free Zone, which makes it accessible to clients anywhere in the UAE.
You don’t have to go all the way to Fujairah to start your business. All processes can be done through BIZ in Dubai, giving you the ease and comfort of company formation in the UAE. The business setup advisors at BIZ are all well-versed with setting up any businesses in the Free Zone.
Get a free consultation anytime, anywhere by calling +971 4 387 3401 or live chatting with BIZ advisors through the website.