4 reasons why you need corporate support services for business setup in Dubai
The entrepreneur has had a really challenging year in 2020, and as we all embark on a robust and reliable path for economic recovery, it is important to revisit some basics of business setup in Dubai. Let's face it. Setting up a business is a huge milestone for anyone. Translating your positive thinking into a business idea, and then to channelise it into a workable business model can be an overwhelming step. This initial step can be a challenging step for many, but once you have crossed this you have overcome the toughest hurdle.
What if you had a readymade solution all along, and it was too simple that you missed it?
Yes, the solution lies in corporate support services.
Here are four reasons why you need corporate support services.
It starts with your business setup in Dubai
Getting your trade license is just the start to a long journey of business, operations, paperwork and efforts. It makes clear business sense to provide this corporate support services to a professional services company, such as one that delivers PRO services.
This leads to many considerations, the main one being “Do I go for a mainland business or a freezone business setup”? In our earlier column, we have attempted to look at all angles to this business conundrum here.
The key to this classic business situation lies in understanding what works best for your business, what is applicable for your business, and more importantly what makes the right business sense. These are best provided by companies that deliver corporate support services.
It makes business sense to engage corporate services in Dubai
It is quite common for businesses to engage a provider for corporate services in Dubai. The benefits far outweigh the costs, as these are professional companies that deliver corporate support services at a cost that is far lower than hiring full-time resources. While some resources may be maintained for decision-making purposes, so that the business retains control over the activities, the actual execution can smoothly be provided to corporate services companies in Dubai.
The corporate support services are usually provided for business activities that can be outsourced to other companies such as HR services (payroll processing, training, etc). Marketing services (social media management, content creation, blog writing etc), accounting services (bookkeeping) and others.
But the true benefit lies in intangible benefits, such as reduction of your time and effort (which you can productively utilize for your business), and the valuable expertise that these companies provide to you.
It works even if your company is a free zone business setup
Every freezone has a separate system, and works like an independent ecosystem in Dubai. Understanding the system is in itself a challenge, and for every business action you would mostly be required to manage it.
As a business owner, if you wish to engage a corporate support services firm, the most important question that you would ask is - how experienced is the company in managing business transactions for free zones?
Well, the answer to this question is an overwhelming YES.
It is typically a misconception that corporate services in Dubai are best delivered to mainland companies and not to free zone companies. For companies looking at cost-effective solutions for free zone business setup, it would be good synergy to outsource the deployment of corporate support services.
Yes, it also works if you are in a corporate business center in Dubai!
Your business is operating out of a business center in Dubai. You are sharing the resources, present with like-minded entrepreneurs, and obtaining some synergy with other business owners. Do read our earlier column to get a perspective on shared office space.
But what is the connection between your office space in a corporate business center in Dubai, and your need for corporate support services?
The answer is actually quite elementary.
Typically, companies that operate out of a business center are likely to have a lean structure, and with minimal in-house operations, mostly centered on the core operations of the company. Engaging the right company for corporate services in Dubai would help the business obtain the right efficiency. The reason for this is that outsourcing corporate support services is an agile solution, at less overhead costs.
To sum it up, the reasons for corporate services in Dubai are:
- Cost-effective solutions
- Lean and agile business operations
- Helps obtain better control over core business operations
- Enables businesses to retain organic business growth in a sustained, profitable model
- Helps get access to experts in the respective functions (HR, Marketing, Finance) thereby allowing better minds to work on your business
- Gives a strong impetus to challenging economic situations
- Provides opportunity to scale your business as per the market needs
Ayman Al Awadhi
Group Managing Director
Corporate Business Services
For further information contact Fayha Sultan on fayha.sultan@cbs-uae.ae or call 07743418518