adminTo successfully incorporate a company, businesspeople look for good infrastructure, market capability, financial and human resources, and a safe and secure environment. However, due to the COVID-19 pandemic, new investments and business growth have been impacted.
The Dubai government has taken strict precautionary measures to ensure the safety of businesses and citizens. That’s why Dubai has been and continues to remain one of the top destinations for U.S. companies looking to expand overseas.
Because of its strategic location and well-disposed trade policies, Dubai offers various expansion opportunities. Dubai is a business hub that connects entities from the east and west. Sectors like finance, education, healthcare, entertainment, infrastructure, and manufacturing are booming.
If you want to leverage the market, you need to understand the business standards and policies. A detailed international marketing strategy can help establish your presence in the market successfully. Let’s take a look at the market entry strategy:
- Business Plan
Foreign investors need to have a detailed business plan. The plan defines your projections and objectives for years to come. To successfully build your presence in the Dubai market, you must have a solid plan. It must include:
- Competitors analysis
- Proposed products and services
- Means of revenue
- Marketing plan
- Financial predictions
- Market Knowledge
You need to have in-depth knowledge about the Dubai market in order to survive the competitive environment. Because people of different nationalities co-exist in the country, market trends and demands change in a second. Therefore, the market study is a critical step in your international marketing strategy in Dubai. It can also help you in:
- Understanding the potential of your business
- Examining the competition
- Knowing the demographic of the market
- Developing your product or service as per the market
- Business Structure
You will directly connect with the international market when you set up a company in Dubai. However, without the assistance of business setup consultants commencing a business and entry to the global market can be a hectic and lengthy process. The experts can help you choose the right business structure according to your organization’s conditions.
- Business Licensing
Most foreign investors choose the business licensing option for entering the Dubai market. In such a case, businesses sell their product directly. However, without the help of experts, obtaining a business license is a time-consuming and complex process.
- Local Partnership
Another way to enter the Dubai market is through partnership. Although market risks are less in partnership, risks related to your profits, investment, and leader are high.
- Business Franchise
Big corporates chains often franchise their business to local entities for their expansion. Generally, this model is apt for the food sector.
Dubai has a friendly tax regime for businesses and attracts foreign investors to set up their business. Moreover, the government has implemented strict measures to deal with the impact of the COVID-19 pandemic. Thus, it is still a good idea to expand or invest in Dubai.
If you are a US enterprise looking to set up or expand your business, Dubai is a top destination for you. For a smooth and hassle-free business setup or expansion experience, contact a professional consultancy firm.