Even in this time and day, when the world is a much smaller and friendlier place, the decision to pack up your entire life and move into a completely new and foreign land sounds scary. Concerning at the least. And if you are someone who owns a small business, an entrepreneur in your own grounds, then this decision only gets harder. After all, starting up a business from scratch is no joke.
But life often takes decisions as such out of our hands. Family obligations, better career options and opportunities for our significant other, or even a brighter future for your children are often reasons for us to move overseas, even when it’s not the best for us. If you are someone moving overseas, wants to start their small business there, yet has no knowledge on how to do so; here are our tips and suggestions for you.
The knowledge and the research
We know that you’ve heard the phrase “knowledge is the key to success”. In this case, it’s a fact and the truth. Regardless to whether you’ve run your own business before, when doing it on foreign soil, you need to start in a clean slate and do your market research. Find out if the business you plan on running, and the products you plan on selling actually has a market in your new home. Localize your business plan. If possible, study those who have previously attempted to sell/do something similar, and failed…you can learn what not to do through them.
Know the rules
It’s a new country; therefore, it’s all new rules. Learn it, and understand it. Be very sure about every rule that concerns your business. Getting to know the loopholes are a good idea as well. Find out if your business will require a trade license Dubai or it you’d need to pay taxes for it. If your budget allows it, we strongly recommend that you get both business and legal advice from the professionals.
Know who to approach and where to find them
While you’re doing the above two, remember to keep an eye out for the professionals. Know who to approach during a crisis to your business. Know where to find them. It doesn’t even have to be the serious things. Knowing which business realtor to approach would help you find the perfect serviced offices in Dubai faster than if you do the search yourself.
Simply localizing your products, and selling them what they want won’t always cut it. If you need to understand the local market, you need to live and think like them. Hang out on the places popular with the locals; make friends with them. Of course, do so while keeping your safety in mind at all times. Learning the language and being familiar with their ways can help far more than you think.