A range of initiatives such as new visa regulations has led to a major spike in entrepreneurs deciding to set up businesses in the UAE. Flying Colour, a company which helps setup both free zone and onshore businesses, say the growth covers a range of sectors such as hospitality, IT and retail and that it covers the whole of the country.
In the first half of 2019, enquiries to start-up a new business are up by around 20% and show no signs of stopping. Flying Colour CEO, Meet Joshi, said, “The introduction of new licensing and visa regulations have really eased the process of starting a new business. The UAE is vibrant but it is also solid and has a proven track record, which is why so many people are attracted to open a business in the country.”
The government’s drive to stimulate the growth of new businesses in the UAE began at the end of 2017 and Flying Colour says the positive effects are really being felt now. There has been a guarantee to give more contracts to small companies and the process of opening and maintaining a company has been made significantly easier.
Flying Colour Managing Director, Mamta Joshi, told how they always deal with an enquiry with great care from the outset and work with people to create and execute a business plan which has a solid foundation and clear goals. “It is key that people understand the type of business they want to launch before they think about where they want to have that licence – and that is what we are here for and why we are the market leaders for business setup advisory,” said Joshi. “I think it is vital that people have the passion in the sector they are joining and that they really put the time and effort into a solid business plan.”