A tax-friendly jurisdiction with stellar social and economic infrastructure makes UAE a preferred destination for starting a new business. After the lull due to the pandemic last year, entrepreneurs worldwide are geared up to explore opportunities in the UAE in 2021. While succeeding in the post-pandemic world is not straightforward, strategic planning and understanding the UAE market can help you flourish.
That’s why we have rounded up eight emerging and profitable ideas for aspiring entrepreneurs such as you to turn your dreams into reality and experience sustainable growth.
Real Estate
Real estate is one of the booming sectors which has made a comeback after the pandemic. It accounts for 40 percent of the total economic growth of the UAE and has the potential of providing serious returns on investment. 2021 is a great time to enter the market, thanks to the attractive valuation and the lower costs of real-estate funds.
It is also one of the sectors where investment by expats is the highest — as per the records of the Dubai Land Department (DLD), 5,246 Indians have invested in the real estate market, followed by 5172 Emiratis. Affordable property prices and various incentives to property developers to accelerate investments have made the real estate sector the perfect avenue for investments.
Online Education
Pandemic has resulted in a vast majority of schools shifting to virtual classes and the trend is expected to continue through the year. Forecasts predict that the online education segment will continue to grow and become worth USD 350 billion by 2025.
Given the high demand for distance learning, starting an online school for delivering e-learning solutions for children is a great idea. Apart from a license from the Department of Economic Development, a stable internet connection, qualified teachers, and IT infrastructure, you don’t need much to get started.
You can work with a business advisory consultant and kickstart your online education business in a matter of few weeks.
Healthcare Services
Post-COVID, there’s a pressing requirement for healthcare services in the UAE. The sector is expected to clock in AED 39.4 billion in revenue by 2025. Moreover, the medical tourism segment is also expected to accelerate with ease in travel restrictions across the GCC region.
As a result, investors may witness increased activity in the global and regional healthcare sectors. Those keen on entering the UAE market can consider acquiring smaller players in the sector in need of financial aid to support the increased demand or even target the health tech space by exploring opportunities in telehealth or remote monitoring and consultation.
Ecommerce Store
eCommerce is booming across the world, and the UAE is no exception. The market size of the eCommerce industry in MENA is estimated to be USD 48.6 million by 2022.
The landscape is extremely promising, and sales are expected to grow by an average of 23% yearly between 2018 and 2022. The low entry barriers coupled with a hassle-free way of obtaining business licenses and a large customer base that prefers shopping from the comfort of their couch make the UAE eCommerce market a sector worth exploring.
Recruitment Agency
As a fast-growing economy, there’s a huge demand for finding the right resource for various job profiles across UAE. Large corporations often rely on recruitment agencies to attract the best talent.
That’s why starting a recruitment agency is one of the business ideas you can explore. The startup costs are usually low, and all you need is a business advisory firm to take care of the license requirements. If you understand how recruitment processes work, consider giving this a shot.
Cleaning Services
There’s a flourishing market for cleaning services in Dubai and the rest of the UAE, especially due to the increased emphasis on sanitation in the post-pandemic world. Based on the market survey results, you can choose between providing residential cleaning services or commercial/industrial cleaning services.
However, bear in mind that the costs of setting up a cleaning services company can be high, given that you will need to purchase best-in-class cleaning equipment. Moreover, tools required for commercial cleaning are generally more expensive when compared to residential cleaning.
Mobile App Development
Mobile apps are the future. With an increasing number of people relying on their smartphones to manage both personal and professional tasks, mobile app development is an excellent start-up idea. UAE also boasts one of the highest rates of smartphone penetration across the world, making it the perfect launchpad for your mobile app solutions company.
Before you move forward, ensure that you have a team with strong coding skills and software development proficiency. Without these, you will find it challenging to stand out in the competitive market.
Handyman Services
From repairing a small leak in the bathroom to providing full property maintenance services, the need for handyman services never dies down. Given the large population of expats residing in the UAE who lead an incredibly busy lifestyle and want access to reliable firms that can provide high-quality repair services, setting up a handyman business can be a profitable idea.
At the same time, remember that you will need to hire skilled professionals who can deliver as per expectations and communicate well with them. You must also factor in the costs of various tools and equipment you’ll need to purchase to service the requests.
Ready to start your new business in the UAE? Dont forget to get in touch
Starting a new business takes a great deal of planning. Even if you have zeroed in on the idea you want to explore, you’ll still need handholding to incorporate and carry out the operations in a jurisdiction such as the UAE.
The experts at Centurion Consulting LLC can work with you and help you achieve your dreams. As business setup consultants in the UAE, we provide end-to-end business consulting services. Right from entry strategy to incorporation and monitoring regulatory compliances — we can help you to get it all done conveniently. If you are keen to know more, set up a 45 min free online or offline consultation with our experts to make your mark in the UAE market.
