Here’s your guide on how to start a business consultancy firm in Dubai.
A business consultant is a professional who provides professional or expert advice in areas such as management, accountancy, human resources, marketing, finance, or any other business function.
The Gulf business consultancy market has an annual turnover of about $2 billion a year. The UAE is the second-largest regional market at $600 million per year. The region’s public sector is one of the major users of consultancies.
There are at least 100 consultancy firms in the UAE employing more than 50 staff members each. They are thousands of consultancy business with fewer than 3 people operating in this very profitable sector. We will highlight a few of the things you need to consider before launching your business.
1. What Certifications Will You Need for Business Consultancy?
Certified Management Consultant (CMC) is an international professional certification established in 1967 for management consulting professionals globally. The CMC enjoys global reciprocity.
Equally, if you present yourself as a consultant with a focus on accountancy, finance, marketing, or human resources, it would be best you have a solid educational background in the respective field.
2. Will You Be Working Within the Business?
Businesses in Dubai save thousands of dirhams by hiring consultants when needed. Businesses realize they save additional money by not having to pay benefits for consultants they hire.
Even though a consultant’s fees are generally higher than an employee’s salary, over the long haul, it simply makes good economic sense to hire a consultant. If you will be based within a company, you need to make sure that the business license that you have gives you the flexibility to do so.
If you have a free zone license, you can technically only work within free zone companies. Whereas if you have a local license issued by the Department of Economic Development (DED), you will have more flexibility. Keep in mind that if you work with the public sector, they may have specific requirements to work with DED licensed businesses.
3. A Fresh Pair of Eyes to Solve a Problem
A good consultant provides an objective, fresh viewpoint or a solution to a problem. For example, consultants that are experts in data analysis just need data. Modern consultants can provide great insight from anywhere in the world.
If you can do your consultation remotely, we have the perfect free zone solution for you. Our fast and affordable solutions can get your business launched for a few thousand dirhams in less than 24 hours.
In case you are interested:
4. Plan for Future Growth
When you start your business consulting practice, you may be able to handle all the operations by yourself. But as your consulting business begins to grow, you may need help handling administrative details or help to complete the actual consulting assignments.
Hiring employees in the UAE is dependent on the type of license and jurisdiction where you have incorporated. It is important to create a growth plan for a few years to come. Don’t get caught in a situation where you get a major contract but are either limited in your capacity to hire or constrained by where your business is incorporated.
5. Speak to Us (Business Consultants)
Since we are business consultants in Dubai, we understand your needs and requirements. Through a no obligation free consultation, we can assist you to flesh out your plans and even introduce you to many service providers that can facilitate the growth of your business. We are here to help!
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