In order for a company to succeed in a new business environment, it must have an effective entry strategy that is well stated. The same method that worked in one country may not work in another. In the UAE, as well as in any other country, this is true. The UAE’s strategic location at the crossroads of three continents — Africa, Asia, and Europe — gives it a distinct advantage in the global marketplace. Additional advantages include abundant energy resources, an expanding population, a state that is mostly tax-free, and an open-minded and progressive government that encourages new ideas and inventions. Consider these variables while deciding whether or not to open an office in the United Arab Emirates.

It doesn’t matter if you’re starting a new company or re-entering the market after an exile: A well-thought-out entry strategy is a prerequisite.

Key Takeaways

·        Finding out how much demand there is for something and how much supply there is all part of conducting market research

·        Understanding the present market conditions will aid in developing a business plan after completing a thorough market study

Winning Entry Strategy: A Step-by-Step Guide

An initial market and feasibility study is the first step

Diverse ethnicities live in harmony in the United Arab Emirates, which boasts a forward-thinking ethos fostered by ongoing government efforts. As a result, this has a considerable influence on enterprises attempting to establish a foothold in the country.

Finding out how much demand there is for something and how much supply there is all part of conducting market research and conducting a feasibility study. This involves research on competitors, consumer behavior, price, demand and supply drivers, and other relevant indicators. – Product or service success in today’s market conditions is determined by this method.

More and more efficient methods for market research are becoming available, and these methods can either be undertaken in-house or outsourced. The activities such as in-depth interviews, group discussions, online surveys, observations, video conferences, mystery surveys, and shopping are often included as part of market research.

The second step is to write a business plan

Understanding the present market conditions will aid in developing a business plan after completing a thorough market study. A business strategy helps businesses enter and operate in the UAE market in a strategic manner. Details of products and services, modes of operation, cash flow and capital requirements, and the projected financial results are all included in this section.

Here is a basic overview of what a good and effective business plan should include:

Defining objectives and devising a strategy for achieving them is the first step. You’ll have an easy-to-follow plan for accomplishing them.

Management of Human Capital Gets the names and contact information of everyone who is going to be working on the project, both internal team members and outside consultants. An organization’s shortcomings can be mitigated through strategic planning if a qualified team is on hand. One can learn about other cultures by hiring local workers. This is a good idea.

In order to succeed in a competitive market, a company’s products and services need a distinctive selling proposition (USP).

Marketing and sales – Develop a plan to effectively promote and sell goods and services to potential customers.

Budgeting – Create a financial plan to cover the costs of starting and running the business. Identify sources of money and how finance will be raised and serviced.

In order to determine the profitability of a business over time, a business forecast is necessary. As part of safeguarding long-term investment, this is critical information.

A commercial structure must be established in step three of the process

One of the most important aspects of effectively entering the UAE market is determining an entity’s commercial structure. This, in turn, depends on the type of firm that will be established. In the United Arab Emirates, the mainland and free trade zones are the two primary methods of incorporation. On the mainland, a variety of business structures and licenses are available, including on-shore LLCs, branches, private joint-stock companies, and professional licenses, among others. The United Arab Emirates is home to more than 40 free zones, each serving a distinct industry. Free zones allow enterprises to have 100% foreign ownership, as well as a host of additional advantages. It is possible for investors to choose from a variety of investment options in the United Arab Emirates (UAE).

The best way to grow quickly in the UAE is to form a local company. On the other hand, franchising is a good option for companies with well-known brands. You should hire a local business consulting agency that has the appropriate experience and expertise to help guide you through this procedure in an efficient and cost-effective way.

Step 4: Get to Know the UAE Government’s Commercial Policy

In order to conduct business effectively and fairly in the UAE, a company must follow a plethora of rules and regulations. As a responsible business owner, you must abide by all applicable legal requirements.

• Manage business
• Protect the rights of consumers, workers, and owners of intellectual property.
• Ensure public safety and environmental stewardship.
• Preserve data privacy and confidentiality, and uphold the rights to creative works.

Final Verdict

There are a variety of options for a company to join the United Arab Emirates market. In order to successfully enter and grow in the United Arab Emirates, an organization can turn to the UAE entry strategists at WBS.

When it comes to forming a business in the United Arab Emirates, WBS has extensive experience working with the various jurisdictions and free zones in the country and can help companies determine the best course of action for setting up a company with the proper license in a jurisdiction where it can operate effectively and in accordance with local laws.

When it comes to registration, WBS takes care of everything, allowing companies to focus on their main business instead of wasting resources on the registration procedure itself. If you are interested in a market and financial feasibility analysis or assistance in setting up a company in the United Arab Emirates, please contact WBS. We look forward to working with you to achieve your goals.