Uae Business Guide – The Legal Details In Starting A Business In The Uae

It only stands to reason that a UAE business guide should always start by education novice investors in the legal regulatory hurdles in setting up a profit-based enterprise in the region. Foreign investors that the investment opportunities offered by the different sectors in the UAE signified that businesses is easily set up in the locale which isn’t true. It is important that you know what type of businesses is available to investors and the various requirements associated with its incorporation.

Starting With Licenses

Every business in the UAE requires a license and there are 3 types of licenses offered in the region. This UAE business guide delves into each in detail.

1. Commercial License – this license can be classified as a general license for any types of commercial businesses in the city. In most cases, this is related mostly to business that deals with trading (e.g.: imports, exports, etc.)

2. Industrial License – an industrial license is issued to corporations that deals with manufacturing of goods or anything related to industrial enterprises.

3. Professional License – this license is released to individual businesses that offer a specific service, mostly related to crafts, profession, and the likes.

Business Ownership

Another important topic discussed in this UAE business guide is the ownership of an investor to a particular business. There are two that you should be aware of, namely Partnership Ownership and Sole Ownership.

Partnership Ownership is a type of business where your native UAE partner owns a majority of the shares in the business. In this case, your sponsor should own at least above 50% of the total shares while you get the rest or subdivided with other investors. There are 3 classifications of business under this category, namely:

*Limited Liability Company (LLC)

*Joint Venture

*Private or Public Shareholding Companies

The second type of ownership is the Sole Ownership where the investors get full ownership of the enterprise giving him or her full control over its operation and profit. If you check out a UAE business guide aside from this one, you will find out that Sole Ownership ventures are limited to Free Trade Zones where you don’t need an agent to set you up.

Company Registration Procedures

This section of the UAE business guide discusses the various procedures necessary for company or business incorporation in the region. Small-scale business, especially those operating outside Free Trade Zones require the aid of a native UAE sponsor or agent to register the enterprise — like processing necessary documents, applying for business visa, registering the business in related government agencies and bureaus, and so on.

In most cases, the procedure can be summed up with the steps below:

1. Submission Of Company Registration Application

Documents pertaining to the registration of the company are to be duly submitted to the Department of Economic Development (DED). This application
will be subjected to approval by a government representative so a business will be issued its license to operate its enterprise in the region.

2. Notarizing Documents

A native UAE lawyer is necessary to have your documents notarized in order for the entrepreneur to get a preliminary approval. In most cases, documents have to be notarized first before you submit it to the DED for approval.

3. Filing Business-Related Documents

Once you have passed the preliminary approval and have obtained the license to open up a business in the city, the next step is to file documents related to the business with the DED. This includes documents pertaining to company registration, financial statements, bank-accounts, registration of native UAE workers, compensation and benefits, rules and by-laws, and so on. There are also some documents that need to be filed with other government agencies as well, like the Ministry of Labor for one but these are mandatory.

Simplifying Business Registration with Experts

This UAE business guide can help give you an idea on what the various legal processes involved in setting up a business in the region. However, if you don’t have the means to take care of this task on your own then the best way to jumpstart your enterprise in the city is to look for a local UAE business consultant firm to help you process all the requirements to register your venture quick and easy.

Simple Ways You Can Reduce Waste At Your Business

Everyone has seen the alarming pictures of landfills full of waste that will likely never degrade into organic materials. Plastic, aluminum, and heavy metals are all being used in record amounts. These take thousands of years to break down into components that take less space and aren’t harmful for plants and animals in the immediate vicinity. Largely after the 1980s, people began to become more aware of the potential damages using these types of materials en mass could cause. The 3 Rs–reduce, reuse, and recycle–can help the planet develop less of a waste problem. Businesses, more than individual households, use lots of plastics and metals in their day-to-day operation. If you own a business or are in upper management, making some small changes and encouraging employees to do the same can have a profound impact on the world and future. This article will tell you how you can reduce container waste and how refilling plastic components of appliances with ink and toners can prevent the destruction of the environment.

Reducing the Use of Plastic Utensils and Paper Plates

Businesses often provide paper plates and cups, as well as plastic forks and other utensils, for their employees. This service helps when an employee has an anniversary at the company or a birthday. If conferences and trainings within the business frequently feature catered meals or snacks, having these on hand might be essential for the correct functioning of day-to-day activities essential for the company to run smoothly. However, these can pile up in landfills and might not be recycled correctly if employees are left to their own devices. There are a couple of ways to reduce the use of these and encourage recycling in the workplace.

First, if employees are given spaces to store their mugs, they won’t use disposable cups every day for their coffee. If you think about the number of employees across the world that depend on coffee to get up and function, the thought of the coffee cups is overwhelming. Washing out ceramic mugs will save all this waste. Putting paper and plastic recycling bins in the break rooms and other areas where food is often consumed will greatly increase the number of employees that recycle any disposable utensils that are used.

Paper Print Jobs

Rejected print jobs are another site of waste within companies. Often people will print more pages than they need. This paper adds up very quickly. Placing clearly marked recycling bins near any printers in the office will ensure that paper is recycled instead of being disposed of. Although paper does degrade over time, using less of paper resources will put less stress on the logging operations that clear forests.

Providing Receptacles for Batteries and Other Electronics

Many companies will recycle electronics and batteries for their employees. If your company is not one of these, you may be able to partner with another to ensure that your employees can properly dispose of any batteries needed for work or even ones that they’ve used at home. Batteries and electronics have elements that are toxic for the environment. Recycling them is essential for keeping the world unpolluted.

Toner and Ink Refills

This is a way to benefit the environment that saves businesses lots of money. Instead of buying new ink cartridges and tossing out the old, which are made out of non-biodegradable plastic, you can get them refilled. Ink and toners are essential for almost every business out there. No matter which type of printer you use, laser or another type, you will need to replace cartridges to keep it in working order. Helping the environment and choosing the cheaper option will help everyone in the long run.

The Pros And Cons Of Medium And Large Business Coaching Firms

Business coaching is essentially about making a meaningful difference to a business by helping business owners to achieve their goals and overcome their weaknesses. It is all about polishing their skills and helping them understand their own potential. Business coaching is something that can be practically applied to any industry and at any level of employment. This growing need for business coaching is responsible for making coaching industry as big and competitive as it is today. Business coaching provides excellent career opportunities to those who believe that teaching is their forte and who have profound understanding of the sensitive business needs of diverse businesses.

While some people prefer to set up their own coaching practice, others choose to become a part of well-established boutique (medium sized coaching service providers) or a large business coaching firm, to impart their coaching skills to business communities. Just like a solo business coaching practice, medium and large business coaching firms also have their own set of pros and cons. If you are an expert business coach and are planning to provide coaching services through a medium or large business coaching firm, make sure that you quickly go through the pros and cons mentioned below:

Pros

Working with reputed business coaching firms has several benefits and can be a rewarding career prospect for many. When you work solo, there is a danger of professional isolation that may stop you from learning new skills that are required for survival in this highly competitive coaching market. However, when you work with moderate sized or large firms, you are a part of a highly motivated coaching culture and you are constantly updated about the latest developments in your field. The firm as a whole adapts to the changing demands of diverse businesses and develops new strategies to address these demands.

As a result, you will always learn new survival strategies to sustain fierce competition and stay ahead, in spite of the growing challenges. Being associated with a large organization, your market value is higher. In addition, teamwork enhances your productivity as well as creativity, contrary to solo practice where you have to rely only on your ideas and efforts. Large firms usually have a broad network and a list of influential clients providing excellent growth opportunities for deserving candidates. Clients, especially big companies prefer to hire the services of established firms, as they are usually very professional and maintain confidentiality about business information.

Cons

Some clients feel that large firms may not provide personalized services that solo coaches offer. When working for boutiques or large firms, you wont get the freedom to implement your ideas and may often have to seek prior approval from your seniors before going ahead with a business strategy. Being a part of a large team of professionals, your ideas and strategies may be replaced by those of others, leading to lack of morale and low performance. There is also a strong chance that your performance may not be noticed and you may get lost in the crowd.

Business Plan Conclusion Tips

The business plans conclusion should sum up the opportunity the business represents with language targeted at the specific audience the plan is intended for (for example, investors or lenders). Without going into the detail allowed in the executive summary (a conclusion should be just a paragraph or two), the conclusion can offer a more personal appeal for consideration and funding. However, the conclusion should not depart significantly from the rational and professional tone of the plan. For example, it is never appropriate to write sentences along the lines of I beg of you to invest in this company, It would mean so much to me and my family, and Youd be stupid to not to jump at this opportunity.

Future Vision

The conclusion is also where it can be appropriate to return to your greater vision for what the company can become and speak about future possibilities beyond the five years detailed in the plan. This can include an idea of what the company can become in ten or fifteen years. It is recommended to focus on the companys potential impact for customers and the marketplace rather than its long-term financial impact, as it is increasingly difficult to put numbers to where the company will be so far ahead in the future. For example, you might say that the business will introduce a new level of quality in liquor stores and become a regionally-known brand over the next fifteen years.

Appendices

The conclusion is not actually the final section of your business plan. Supporting documents should appear in appendices after the conclusion. These appendices should include detailed pro forma financial statements, and may also include resumes of managers, partnership, supplier, and customer agreements, evidence of intellectual property, records of business licenses and permits, detailed results of surveys, focus groups, or competitive research, and letters of support.

How to Recognise Good Small Business Management Software

Finding out which small business management software solution is right for your business can be a long road. The majority of companies that offer this will tell you that their product is the best on the market in order for you to sign up to their service. Whilst it can be very useful to take a look at marketing material for small business management software owners of businesses should know what features to look out for. Here are a few questions which will help owners and managers of small businesses to ascertain if a small business management software solution they are interested in is right for them:

How many employees can be added to the application? If you are looking at software that will only allow for 10 or 20 employees there is little room for expansion. Instead look towards software that can handle up to 50 employees.

Is the application web based? Small business management software that is web based has so many advantages over other types of software. It means that owners, managers and even employees can log on from anywhere with an internet connection and check information relating to the business or even carry out their role from another location.

Do the features on the small business management software solution do everything your business needs them to? For example if you need a quoting and invoicing tool it has to have these as standard, similarly a business needs software with integrated calendars, document storage, project planning tools and reporting features to name but a few. Without these features a small business might need to pay for other applications, which is a waste of funds.

Is the small business management software solution easy to use? If a new software package is difficult to use and navigate around it can spell big problems for a business. Not only will it take a disproportionate amount of time to train employees on how to use it, it may also be too clumsy to use effectively. It is surprising just how many businesses sign up for software that is incredibly hard to use and requires several hours worth of training per employee. To get the most from small business management software it should take around an hour for employees to get to grips with and from there they can build upon their knowledge.

Can the software grow with your business? Whilst most businesses start off small there are a large number that do not stay small. With this in mind you need software that can handle a growing customer contacts database and will allow you to add employees as you hire them.

Does the software offer you a free, no obligation trial? This is essential before you spend money signing up to any software application.