A British-based business owner has shared his dos and don’ts for scaling a business in Dubai.
Dubai is investor friendly and starting a business in the city can prove very lucrative for an entrepreneur.
According to statistics published by the UK government website, there are currently over 5,000 UK businesses trading in Dubai.
Neil Sheth, founder of copywriting firm Writefully, is currently expanding his business into the UAE, and shares his insights.
“Lots of people are now considering Dubai as a location to both live and work. COVID made us all realise that it’s perfectly possible to run a business from anywhere – we’re no longer restricted to the UK. It’s time for UK business owners to take full advantage of the opportunities that lie elsewhere – and Dubai is a haven for UK businesses”.
Neil shares his 4 dos and don’ts for starting a business in Dubai:
DO – Splash the cash
London may be expensive, but Dubai makes it look cheap. There is a higher standard of living in the UAE and even taking clients for a meal can be quite pricey – expect to shell out hundreds on a business dinner. Labour costs are also more expensive – the average salary in Dubai is 258,000 AED (approximately £58,000) compared to the UK average of around £30,000. If you’re looking to establish yourself in Dubai, you may need some considerable capital or investment to back you.
DON’T – Be culturally insensitive
Remember that culturally, life in Dubai is worlds apart from life in the west. Run through all of your promotional material or anything you might use in a pitch deck and make sure it’s appropriate for Eastern ideals – even if you’re going to be dealing with other expats. Neil explains that a picture of a fitness model almost ruined a pitch because of a low-cut top.
DO – Build relationships
In the UK, you’re more likely to land a client by solving a problem that they have. In Dubai, it’s all about cultivating a relationship and building a rapport with your clients and investors. If you’re going for a meeting, expect to take them to a luxury restaurant or hotel, and don’t rush into closing a deal straight away to make a lasting positive impression.
DON’T – Expect it to be easy
We may be used to the modern world of instant gratification, but doing business takes a lot longer in Dubai and requires much more patience. They don’t just give anyone a bank account out there either – you might not even have a personal bank account for 4 months. Be willing to put a lot of time into building your business in Dubai to reap the benefits.
