Are you tired of working for other people? Do you want to become your own boss ??

Many clients are tired of the corporate world and wonder if they should start their own business. That is obviously a very big question and different clients may have different issues to think about.  However, there are some general issues that most people need to consider.  Here are some questions to ask yourself:

1.       Do you have an idea about what business you want to start?  Odd as this question may sound, some people simply fail to ask it. It isn’t enough to want to work for yourself.  You must have a clear, and well-researched plan for a specific business. It might evolve and change over time, but you should be able to define your business, as you envision it now, in one short sentence.

2.       Are you self-motivated?  Do you want to set your own agenda and follow through, no matter how much work and attention to detail might be required?

3.       Are you willing to do the marketing needed to build (and maintain) your own business?  Every business must have a clear marketing plan, one that is implemented on a regular basis.  For example, you aren’t just doing accounting 100% of the time; you will also be involved in a variety of business-oriented activities.

4.       Are you a generalist or a specialist?  Most business owners are generalists because in addition to their professional services, they may need to spend a part of their day paying bills, making calls, writing emails, hiring staff and so forth.  Specialists, however, are usually focused on their professional work.  Valuable as one’s professional skills may be, a business owner must be able to wear many hats and juggle many balls in the air at the same time.

Spend some time with these questions and look deeply into yourself and what motivates you.  You may find that owning your own business seems exciting and challenging to you or you may decide that you just don’t want to take on the diverse and numerous tasks involved in running a business.

If you would like to evaluate whether you should start a business, contact Elegant Business Man Services L.L.C at info@elegantbusiness.ae  or call us at +971 50 908 1661 to schedule a self-employment assessment.

How to Pick the Right Office Space for Your Company

Picking out the right office space is so important to the success of your business. The wrong location can cost you your business, the most talented employees and your clients. After completing your company registration in UAE, office location should be at the forefront of your mind as it significantly affects your ability to grow.

Marketing isn’t the only place where the 5 Ps are applicable.

Your decision when choosing your office should be led by the 5 Ps in order for you to make a choice without too much hassle.

Future Prospective

Business owners should analyse the office space and consider whether it is flexible enough to be expanded. When entering a lease, you are essentially fastening your business to that space. Over time, companies can change and many factors may change the space requirements.

Product

Once you have gone through company formation in UAE, you should consider your business model. The best way to do this is by going through the activity of your company. Does the office space you’re looking at have all the necessary requirements? For example, if you have a restaurant business, you will need to have a back door that has access to the kitchen, accessible parking, and a formal entrance. It is advisable to go through the daily activities of your business and think of all the requirements of your office/business premise. If you are missing electrical plugs and other structural changes, these can definitely be fixed - but will the property allow you to go ahead and fix them? Consideration for the rules and regulations of the office space should be kept in mind before you sign a lease.

Parking

In UAE, parking can be an issue in commercial zones. For your business to run as effectively as possible your clients should have a pleasant experience when visiting you and therefore parking availability at the proposed location is vital. Many employers tend to forget this key point and they therefore suffer a loss of business. If there is a lack of parking, then perhaps neighboring parking lots should be kept in mind that can host employees and clients.

Price

You should consider the daily expenses of your business and the ability for you to hit profits for a new office space. Expenses can include office furniture, ongoing costs such as utilities, and equipment. If you find yourself under a tight budget, a couple of options you could consider are:

·         Subletting - this is where you rent out a space from another company. This option is cost effective. However, the disadvantage of this option is the lack of control of the space and if there is business growth, you would need to find another premise. You will also need to ensure that the company is allowed to sublet.

·         Co-op - this is where several businesses rent out a large office and share common facilities such as the kitchen, meeting rooms and reception area. Renting out a large office with extended facilities can be extremely beneficial such as renting out a space with complementary businesses. Business owners can consider partnering with advertising or IT firm in order to increase business efficiency.

Place

The location of an office should be the base of your decision-making and consideration as to whether the location of the office is convenient for your employees should be a priority. A long drive or an inconvenient location may push away your key employees to choose to work elsewhere. Alongside your team, an emphasis should be on the clients to ensure that they can reach your location with ease. It is important to keep in mind the cost benefit analysis of price versus location. Some business owners may choose to locate on the outskirts of the city or in construction zones. However, would this suit your business or would it hinder it?

One thing that is of utmost importance is that your office space if the face of your business. It must reflect and fit your business model in order to bring success and more business. You should consider the above when selecting your office in order to help you make the best choice for your company.

Take your own first small step and contact the business setup specialist team at Elegant Business Services for more information: +971 6 740 4211 or email us on info@elegantbusienss.ae

How to start a new Business??

For those looking to start a business, there is a phrase that most of us have heard before: ‘I don’t have a unique idea that no one has thought of before.’

It has been discussed that in order to be financially successful when starting a company, you should focus on owning a company in a non-trendy business, where the competition is lower and therefore the chances of achieving financial success is greater. This ties into the idea that you do not need to have a unique, never heard of idea in order to build a business.

The majority of successful businesses started with the basics:

·                     First have a product, which isn’t necessarily new, or a service that people want to purchase.

·                     Sell it to consumers at a profit.

·                     Repeat and increase in size as desired and required in order to support the business.

Note that in the above, there is nothing in there about having something new that people haven’t seen before. With these basic steps, thousands of startups setup and flourish - these include online resellers, retail stores, professional service firms, etc. There are obvious contextual elements in each of these 3 statements that should be attended to and some business articles take these 3 steps and elaborate. So if these steps are so easy, why isn’t everyone successful? This is mainly because they neglect the details or ignore the basics.

We have heard from many people that come talk about an idea of the next generation of a solution that no one has ever heard of before, asking opinions as to whether they can form a business from it. The one question they should ask themselves is ‘who will pay for it?’ If you know the answer to that question and you can get the customers to write cheques in advance, then you have a start on step one. There are many other steps in step one to consider, such as customer identification, market analysis, an analysis of competitors, barriers to entry and so on. However, if you do not have customers that are willing to purchase your product or service, then you won’t have a business.

Step two affects lifestyle businesses due to the fact that they often try to minimize their profits or they have a lack of experience, or in some cases demand excessive profit and lose their customers. This becomes increasingly difficult as the business expands and there may be infrastructure costs that require a minimum amount of sales, which requires expanding the customer base through marketing and repeat sales. Failing to provide good customer service or a good product at this stage often results in a decrease in the customer base, forcing an entrepreneur back to step one - finding customers.

Step three is what turns a business into a real business. Many entrepreneurs start their businesses as an alternative to working for someone else. Others wish to conquer the world from day one by becoming number one in their industry. The rest of business owners fall somewhere between those two ends of the spectrum. Step three requires more than just understanding of what the business does. It also requires understanding what the business is and how to manage all aspects of it including sales, marketing, management, HR, etc. A successful entrepreneur is very good at one or more of these areas and gets up to speed with the rest or hires individuals that specialize in areas in which they lack the skills. Being able to manage issues personally or through good recruitment is the key to entrepreneurial success.

Starting a business does not require some world shattering idea or a genius IQ. So what is holding you back? Are you ready to get started?

Take your own first small step and contact the business setup specialist team at Elegant Business Services for more information: +971 6 740 4211  or email us on info@elegantbusienss.ae

How to Start a General Trading Business in UAE ?

One of the most popular business activities in the UAE is General Trading as many clients wish to take advantage of Importing and Exporting with no taxes.  A General Trade license gives you the freedom and flexibility to trade in just about any commodity allowable under the DED Activity List.  There are certain commodities that are not permitted to be traded with a General Trading license and those are the type of products that require special approvals or clearances from different UAE Municipalities. Examples of these type of products are medical products, guns, alcohol and cars as they all need special approvals and cannot be traded under a General Trade license. These products are allowed to be traded however under a specific Commercial Trade license and with the proper approvals.

Some of our clients, who setup a General Trading company, had their first activity as trading in garments.  After time, they realized that they could make more money trading in computer products as the UAE advances in technology and cities like Dubai are moving closer to a Smart City.  Because this company had a General Trading License, they did not have to apply for a completely separate license in order to start trading in computer products.  If they had a specific Trade License in Garments only, they would have to pay more money and go through a process of adding the activity to trade in computer products.  Like this company, it is wise to choose a General Trade license from the start because it allows you to shift in business practices in the future.

General Trade License

Setting up a General Trading Business in the UAE is not difficult. Many free zones offer the license as do various local departments of economic development in all the Emirates.

But with all of the choices, which option is the best for you?  If you are looking to have 100% ownership of your company, a free zone is your only option and some would say it’s the best.  I would recommend the Ajman Free Zone  is the best options and highly recommended, that is due to their low costs, strategic locations and ease of doing business.

AJMAN FREE ZONE LICENSE PACKAGE

•       Trade License
•       Smart Office  ( Free Electricity / AC / Furniture / Name Board )
•       Chamber of Commerce Certificate
•       Lease Agreement
•       Establishment  Card
•       2 VISAS + Family Sponsorship

ADVANTAGES

•     100% Ownership
•     No Sponsor ship
•     No Capital Required 

Ajman free zone offer deep water ports, warehouses and located near the Sharjah airport.

If you would like more information on setting up a General Trading Company in Ajman  free zone, feel free to contact us at info@afzauae.com or call /wtzup Mr. Abdul Salam on +971 55174 5764 We can provide you with all of the necessary information including costs, steps/procedures, estimated timeline and how our company will assist you.

Elegant Business Services

Tel : 06 740 42 11 : Email : info@elegantbusiness.ae

Web : www.elegantbusiness.ae

Five Steps to Becoming your own Boss in the U.A.E.

When you say the word entrepreneur out loud, it has very powerful connotations. It speaks of freedom with responsibility and flexibility with purpose. Moreover it says to the world that you are in charge of your own future.

Entrepreneurship has long been the domain of journalists and photographers, artists and consultants. Today it’s an option for everyone. Anyone can be their own boss, decide their own working hours and pick and choose whom they want to work with.

It sounds perfect! Where do I sign? Actually, it’s not quite as simple as that.

There is the small matter of obtaining a UAE trade license. UAE law dictates that in order to do business here you must be licensed to do so.  Furthermore your license states what activities you’re able to perform.

Thankfully, there are companies out there who can assist you with obtaining the right license for what you want to do and where you want to do it. The right license for one company may not be the right license for yours. This is why there are some important things to consider.

Here to help you on your way are ELEGANT BUSINESS 5 steps to establishing yourself as your own boss in the U.A.E.

Step 1. Do some research and choose your industry carefully. If things go well, this could be what you do for the rest of your working life! It’s not enough to just want to do something. Choose an activity or skill that you enjoy and that you can talk about to others with passion and pride. Remember, most people set up their own business because they want to be their own boss, have financial freedom and have flexibility. If you don’t enjoy what you do you may find it hard to motivate yourself later down the line – especially when the only person you have to answer to is yourself!

It’s important to know what market you will be competing in and make no mistake it is competitive in all markets these days. Find out what other companies are doing. Can you do it better? If so, how? Can you do it cheaper? Money is a huge motivator and business is often won or lost based on the cost. Entering into a new market blindly is as good as not entering it at all. You have to know where your clients will come from and more importantly how you will keep them as clients. Think long-term if you want to succeed.

Step 2. Create a business plan. Although it is not always a requirement to do a business plan in order to get your license, it’s still one of the most vital planning tools for new company formation, especially in a competitive market such as UAE. A business plan is more than just a forecast on where you’ll be in a year, three years or even five years from now. It also allows you to see things in black and white and be able to compare your performance later against your predictions.  Successful business owners will revise their business plan every year to factor in changes in costs, legislation and budgets.  Remember the age old saying; “Fail to prepare, prepare to fail.”  It’s also worth remembering that most banks will insist on a business plan should you ever need to apply for certain facilities such as business loans, credit cards or card-reading machines.

Step 3. Choose your company name. So you know your market and you know how you’re going to do business. You can already picture yourself sipping cocktails on the beach after a hard day’s work right? Well, almost! It’s time to get creative. Your company name speaks volumes about who you are and what you do. A company name should be catchy but not trivial, memorable and relatively short.  Some experts recommend not having more than 10 letters to the name. Don’t be tempted to use words like ‘Elite’ as it gives the impression that your services will be expensive, likewise words like ‘budget’ or ‘discount’ should be avoided for the opposite reasons.

Step 4. Get a license. This is often the most daunting aspect of setting up your own business. It is not uncommon for people to delay setting up their company because they don’t want to tackle this problem. Thankfully help is at hand! The team at ELEGANT BUSINESS have established themselves as company formation specialists and are able to offer many different set up solutions based entirely on your circumstances, requirements and budget. Whether you are a Consultancy or a General Trading company, there are packages to suit everyone. The best part about it is that once you’ve discussed what you want and what you need, you can sit back and let the experts do all of the heavy lifting and hard work in order to obtain your trade license for you. Sounds like that cocktail on the beach is waiting for you!

Step 5. Surround yourself with experts. No matter how much you know you can always learn more. Seek advice and knowledge from people who excel where you tend to fall short. It’s always useful to be able to ask an expert when you come up against a tough question or decision. One of the biggest advantages of setting up a business in Dubai with ELEGANT BUSINESS is that we already have a panel of experts in place who are there to support you and point you in the right direction when tough decisions need to be made. Whether it’s immigration or labour laws, accounting, finance or marketing, you can get the help and advice you need to assist you in moving your business forward. ELEGANT BUSINESS development and networking events will put you in touch not only with business owners who are happy to share their past experiences but also professionals in a range of industries ready to provide ongoing support. You should never be afraid or too proud to ask for help. One day you could be the one giving out the advice!

Establishing yourself as an entrepreneur has never been so easy. All you need is desire, determination and the five steps above.

When Neil Armstrong first set foot on the moon he began his immortal phrase by saying “One small step for man…….”

Take your own first small step and contact the business setup specialist team at ELEGANT BUSINESS for more information: +971 6 740 4211 or email us on info@elegantbusiness.ae 

ELEGANT BUSINESS is a team of company formation specialists who have been part of the UAE business setup industry for the last 5 years. Having successfully setup over 2,500 companies since their inception in 2010, ELEGANT BUSINESS understands and appreciates the challenges and concerns people are faced with when trying to incorporate a new company in a foreign country. ELEGANT BUSINESS not only specialize in the handling and processing of all company documentation (everything from trade licenses to residency visas) but they also provide a business support platform of the highest calibre to their clients, helping them start their businesses off on the right foot. ELEGANT BUSINESS expertise lies in the establishment of Free Zone, Dubai LLC & Offshore companies which in turn, allows entrepreneurs and start-up companies to focus on what's most important; starting their business and making it a success!

Top ten rules of freelancing in the UAE

Freelancing is working for yourself, which is legal as long as you are licensed to do so

Freelancing is a work option for many in the UAE. Increasingly many companies are looking to hire freelance workers in various fields such as programmers, web developers, graphic designers, writers, data entry staff and more at a fraction of the cost when compared to full-time employees.

Though freelancing seems a viable and an attractive way to work for many in the country, there are employees who are not sure about the rules that should govern their scope of work.


1. May I legally freelance in the UAE?

Yes, you may freelance in the UAE!  However, it is important to distinguish between part-time work and freelancing.  Freelancing is working for yourself, where you are essentially a company made up of one person, which is perfectly legal as long as you are licensed to do so.

2. So, I need a license?

Yes you do!  You will need to secure a Trade License pertaining to your business activity from your selected Licensing Authority, and adhere to their stipulations.

3. What kind of license do I need?

The kind of license you need depends on the nature of the business you are looking to conduct.
There are two main ways of setting-up a business in Dubai and different license options for both, which a business setup specialist can explain in detail. The first is through the Dubai Department of Economic Development and the second is through one of the many Free Zones

a) Dubai Department of Economic Development (DED) Business Setup
The main license types in the DED are:
1. Commercial (51 per cent Emirati-owned; 49 per cent foreign-owned)
2. Services/Professional/Consultancy (100 per cent expat-owned with a local Emirati service agent).

b. Free Zone (FZ) Business Setup

For the free zones, both of the above license options apply, but the main differences are 1. an Emirati partner is not required, and 2. FZ businesses are 100 per cent expat owned.

4. What are other benefits of setting-up through a Free Zone?

The general benefits of setting-up through a FZ are that companies can remain 100 per cent foreign-owned and benefit from being “tax free” for 50 years, according to Article 15 of Law No. 1 of 2000 of the Emirate of Dubai.

Visas

5. If I’m not a resident, may I obtain a residency visa through one of these license options?

Yes, you may!

6. May I freelance if I’m on my husband’s visa?

Yes, you may!  You would first need to obtain a No Objection Certificate (NOC) from your husband as well as a labour card issued from the licensing authority/immigration office of the Emirate where the freelance company has been registered.

7. I’m working full-time but I’m interested in turning my hobby into a business.  May I obtain a license even if I’m sponsored by my employer?

Yes, you may!  Most (not all) licensing authorities would request you to provide a No Objection Certificate (NOC) from your employer in order for you to start your own freelancer company.

8. How long will it take to get a freelance license and setup my business?

On average the process can take anywhere from one week to ten days.

9. Do I need to rent office space?

The majority of licensing authorities do require you to have some sort of office space within their jurisdiction, be it something minimal like a flexi-desk or a smart office, which is often already built into the price of the company setup package offered. These packages are typically catered to fit the needs of freelancers like you.

Some licensing authorities are even able to provide you with a Trade License without taking office space of any sort. However, under this option you wouldn’t be able to secure any residency visas on the company, so this option is best suited to a freelancer who already has a residency visa be it through their spouse, parent or current employer.

10. Do I have to get a freelance license through a business setup specialist or can I do it myself?

You certainly can do it yourself, however most of our community members have testified that using a business setup specialist was a wiser, more sensible and efficient option, as setting up a company in the UAE can be a very time consuming and draining process.

There are so many facets to consider when setting up a new business in the UAE, like obtaining your trade license, applying for your visa, getting business cards printed and setting up your bank account. The business setup specialist takes care of all the admin, allowing you to focus your attention on developing and growing your business.

We at Elegant Business Services provide company registration services / Freelance permit Services from start to finish. Please contact us on +971-055 174 5764  or info@elegantbusiness.ae or visit our website www.elegantbusienss.ae for more information.

HOW TO START E-COMMERCE BUSINESS IN UAE ?

With nearly half the world’s population expected to become web users by 2016 the internet economy is set to provide companies with an important source of growth.

UAE has made major efforts to establish itself as an e-commerce hub, and according to a study carried out by UAE Media City-based Madar Research Group in late 2002 was at that time on a par with top European Union states in basic online services.

This trend is being further fuelled by the rise of the emerging markets, and the growth of social media. SMEs are also increasingly championing the Internet, using it for marketing, sales and interactions with customers and suppliers.

In the Middle East, the web effect is no less dramatic. For example, 42 per cent of UAE shoppers accessed the internet for online shopping in 2012, up from 33 per cent in 2010 according to a survey by MasterCard.

The e-commerce trends here are no different. New players are setting ablaze the trail for e-tailing.

PayPal is coming on big in the GCC . In fact, according to Arab Advisors Group, the value of e-commerce related transactions is about $11 billion a year in the Middle East. With the growth of broadband in the region and improvements in logistics, security of transactions, payment execution and technology speed, we expect the online space to continue to flourish.

Building and distributing a successful brand in the Internet era is about addressing the new behaviors of an evolving customer base. Looking to the future, the discussion has to shift from e-commerce vs. offline commerce to an integrated model.

For the consumer, some things remain the same irrespective of whether the talk is about online or offline retail. Customers still want to buy trendy products at great prices, they still value good service, and they continue to desire brands that understand their life interests.

Increasingly, consumers are making the final purchase through a series of online and offline experiences. Online, they share information, validate their friend’s choice, research, learn and develop a point of view. Offline they often look at and feel the product, comparing it with some brands and associating it with others.

It is a mixture of these experiences that drives the consumer to his or her final purchase decision and brands of the future must take both into consideration. Finding the right strategy for this online versus offline dynamic will be key to the success of future brands and e-tailors.

Licensing:

1) To form a web-based company, you will need a License from the Department of Economic Development (DED).

2) If you are looking to setup within a free zone, the license will have to be acquired from the relevant free zone authority.

3) The type of license issued will depend on the nature of your online business.

Office space:

Depending on the nature of the business, you should also consider setting up a physical office.  UAE-based company must have physical office space to be considered legal

Website development:

To set up an online business, you naturally need to prepare a website The following steps need to be taken when establishing your web presence:

Registering a domain name:

1) You will need to choose and register a domain name.

2)  This is the name or address you use for your website (often the company’s name).

3) A number of companies in the UAE offer domain name registration services. In order to acquire you can search it out on Google which is the best one available.

If you are an online shopping portal, there are a few additional factors to consider:

Online payment gateways:

If you are selling products online (whether tangible or intangible) you need to set a Secure Payment Gateway Options include credit card payment, cash on delivery and pre-paid card systems such as PayPal.

Import/export requirements:

If you are importing products from outside the country and selling them online to the UAE market, the business has to be registered with the relevant emirate’s ports and customs authority, and receive an importer’s code. A customs duty (often 5%) is applicable to goods being imported.
Businesses established within a free zone are exempt from customs duties if they are selling their products/services within the free zone or outside the country. However, if they are selling to the UAE market (outside the free zone), the customs duty has to be paid and a local commercial agent has to be appointed.

We at Elegant Business Services  provide company  registration services from start to finish. Please contact us on +971-055 174 5764  or info@elegantbusiness.ae  or visit our website www.elegantbusienss.ae for more information.