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Should You Setup a Business During a Pandemic?

Should You Setup a Business During a Pandemic?

Published On:
May 11, 2022

As an entrepreneur, when deciding to have your business setup in UAE or any place for that matter, you’d certainly seek perks such as ROI, enhanced facilities and technology, and access to numerous markets and platforms. Dubai offers all this and more. Therefore, company formation in Dubai is beneficial. Moreover, it is built on a solid basis that prioritizes the well-being of the entire firm, including investors, employees, and their families. With the current global crisis, here is a list of reasons why establishing a company in Dubai is still the best option in these difficult times.

Government-Wide Support and Assistance

Dubai's government provides substantial assistance to those setting up a business in Dubai. Aside from the existing system that enables and prioritizes health, wellness, and lifestyle advantages for all UAE citizens, the government has been generous in slashing the cost of various business packages by up to 98 percent to support startups and SMEs. The Ministry of Economy has also developed a page to help investors understand the proper procedures, steps, and facts that will help them mitigate COVID-19's impact on their firms.

Should You Setup a Business During a Pandemic

Targeted Economic Assistance Program

In the midst of the epidemic, the UAE's Central Bank introduced the Targeted Economic Support Scheme (TESS) to help minimize the effects of the disease and provide temporary reprieve from loan obligations such as principal, interest, and profits.

Financial Assistance Is Available

Banks and financial institutions have helped address startup, SMEs, and MSMEs loan repayment. Most have devised innovative strategies to help firms and employees cope with the present health crisis. Furthermore, several business incubators, accelerators, and financing organizations continue to provide monetary support to potential startups in order to help them recover from the pandemic's economic effects.

Various Forms Of Assistance From Professionals

Dubai has a large number of consultants and specialists prepared to assist the UAE's economy. Amid the current crisis, business coaches and organizations have stepped forward to help investors and employers looking either for assistance in company formation or ways to grow their firms.

Setup and Management at a Low Cost

Setup and Management at a Low Cost

Dubai is noted for its flexible and cost-effective company structure, as well as how easy it is to administer, particularly for growing companies and new investors. This hasn't altered despite the pandemic. The authorities here have even offered discounts and price reductions to assist them in dealing with unexpected losses. In addition, utilities, permits, customs taxes, and rental rates have all been decreased to encourage the further building of offices across the country.

To Conclude

The best part of this country is even now, they continue to open-heartedly welcome investors and entrepreneurs to set up their businesses and take advantage of the many benefits. These include low taxes, access to w wide network of international markets, flexible business setup, and proximity to authorities on the mainland or in the free zone.

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