The Guide
 

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Introduction

 
 

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The Guide - Introduction
 

 

Thanks be to God alone, and prayers and peace be upon Prophet Mohammed, His family and followers.

This book is being presented as a part of my periodical effort in sharing my experiences with other people who would like to create business enterprises and make a successful life in the UAE.

The book is in its third edition, which has been improved and reviewed with additions to enhance its compatibility and utility while keeping it as simple as possible to be used by nationals as well as expatriates alike, who wish to establish a business in the United Arab Emirates.

The primary objective of the guide is to help the reader familiarize with the procedures and documents required for establishing a business. In addition, it gives information regarding relevant government authorities that are necessary in the process.

The book intents to guide the reader step-by-step beginning with the conceptualization of the business until its establishment.

In order to examine this highly important subject, I have taken hues from the premises of business environment prevailing in this part of the world and clearly understanding the hidden opportunities of making a successful business model.

I have been in the field of business for almost 35 years, and during this time have witnessed many projects and businesses fail. Therefore I realize the importance of sound guidance in such matters.

Some businesses which had been started with small potential grew to become large companies that exert great influence on the national economy of this generous country.

If we examine the reasons for failure however, we would find that they are all essentially attributed to the lack of know-how and experience in the field of business, which can result in the following:

Rapid planning of a project, insufficient study of its dimensions, preparation of the business plan without deliberation, lack of sufficient capital, mismanagement, lack of knowledge about market demand for the products and services. Improper location and human resources.

Ignoring the importance of personal contact and failure to strengthen client confidence in the project. Personal contact is essential when forming strong, ongoing relationships with the clients. It also affects the reputation of the firm and project concerned.

Lack of knowledge about the concerned laws and regulations such as the provisions related to immigration and labor, local financing conditions and other important laws. Laws and regulations should always be observed.

It is evident that success, growth and prosperity of any project require appropriate knowledge about the business and proper planning. The owner must be conscious about necessary regulations and provisions. Patience is important, as one should not rush to make quick profits, but learn how to face difficulties and overcome obstacles. Above all, he should know exactly what his goal is, be self-confident and perceptive, relying only on people who he respects and trust.

He should conduct himself in an honest manner and be dedicated to his business, setting his mind on making it successful. This should be his first priority, irrespective of other preoccupations. Moreover, he should be aware of technological developments and state of the art systems in the business world, which witness innovations not every day, but every moment.

I don't claim this book to be infallible or an authority on doing any business in UAE. I have by this book only intends to provide the basic information's that are quite useful for the beginners and an initial guidance will help eliminate many of the flaws which otherwise may occur due to the lack of these information's.

In this new edition I have added some more features like the required qualities of an entrepreneur and the formula for success. This is from the success background that I have built over a period of time experiencing and overcoming the challenges of different business scenarios and associations.

It is a small Endeavour to share and guide the newcomers so that they can avoid mistakes which our generations have committed due to the lack of knowledge and help them succeed in their business challenges.

I have also included the details of the consultants who can be approached by the readers for further support for starting their project such as making a project study and report which is of great importance in starting any business, how ever small a business is.

I have put in my sincere efforts to make it as useful as possible within my limitations and look forward to improving my efforts in my future endeavors and humbly present this book to my readers with all my good wishes.

 
 
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