Dubai’s economy is vibrant and ever-changing. With the changes come myriads of different unique business ideas which new, aspiring entrepreneurs can establish. Scientific breakthroughs, changes to local and international policies, and new technologies all have an impact on the emirate’s business landscape.
Top Business Ideas in Dubai
Below you will find the top business ideas that are specifically designed for Dubai.
E-sports Sponsorship Management business
Another sector that’s growing within the huge e-sports community is team sponsorship. In the next five years, experts forecast the market growth to triple with revenue of millions of dirhams. Although this isn’t exactly massive growth, capturing some market shares will make it easy for you to expand operations overseas or other locations where markets are a lot bigger.
Your business can work with other businesses looking for exposure during specific events around Dubai and Middle East Africa and South Asia (MEASA). You can provide logo placement and brand mentions in exchange for fees. The idea can be started with only a little investment from the start, as you won’t need lots of technology. However, sales skills are definitely a must!
Network Security Business
People in Dubai always demand faster internet speeds. With breakthroughs in ‘smart’ devices, there’s always this underlying question about network security. With this in mind, you can consult with cities, governments, and private businesses on the setup of smart device networks. You can also manage their security systems. For instance, a Dubai government entity may need the installation of a smart grid which can monitor roadways for repairs. The company can help them in managing the security behind all this. If you already have a deep passion for smart devices and networks, this can be an excellent area for you to get your feet in.
Read also: Tips on Taking Your Business in UAE Online
Turning homes solar with DEWA will involve several steps, but homeowners see the use of solar panels as attractive as it increases property valuation. Solar power at Dubai residential homes is definitely a growing trend. With solar panels, you can power your home, reduce your power consumption and not have to worry about yet another electricity bill. Dubai’s solar panel market is already set for growth – there’s also room for more competition!
The business idea for Dubai will not only involve the installation of solar panels but maintenance and cleaning as well. If you like being outdoors plus you have a passion for clean, renewable energy, we advise you to consider this great business idea. You can also establish your business for a lower cost. Just try to pre-sell services to a couple of people. As soon as you’ve saved enough cash from your pre-sales, buy supplies in completing the actual work. It will get you started a lot quicker compared to raising money when you don’t exactly have much.
International Distribution Supply Consultancy
With the ever-changing political market, companies always need help in navigating the international business landscape, most especially with how other countries’ markets are reacting. The idea can be started with just a low investment as it’s a business that’s service-based. You would just have to acquire knowledge with respect to international distribution and trade.
This company can also expand into supporting businesses that are considering going international but are confused as to how to start. You would help them in navigating policies for a percentage of the new revenue from a specific market or a fee.
E-Book Publishing Company
E-Books continue in growing within the UAE market. They are even poised for strong growth in five years. If you are an avid reader, this can be an excellent business to start. It’s going to involve you helping others in publishing their original e-books. Your platform can market e-books to potential markets for sales. Arrange to have profit-sharing wherein you get a particular percentage of the income from a book as you’re also taking risks with the e-book’s marketing. But, the profit potential with e-books is actually much higher in comparison to traditional books.
Bonus: Virtual or Augmented Reality Tourism
Tourism in Dubai has always been part of the emirate’s economy. It is very obvious people love traveling to Dubai, and they’ll not stop doing so! Take this a notch higher by starting a business that creates a safari guide in augmented or virtual reality! The customers can wear headsets or something that is similar to Oculus Rift or Google Glass. They’ll be able to read important interesting information and see certain statistics for an even more immersed experience.
Dubai offers a lucrative market for new and existing entrepreneurs alike. If you need legal help in setting up a business in Dubai and acquiring the appropriate trade licenses, consult with FAR Consulting Middle East today!