Celebrating Entrepreneurship on the UAE’s 51st National Day

As UAE marks its 51st National Day, drawing upon a general direction of progress, the country is setting the foundation for envisioning the future of the country. And in this pursuit, fervent entrepreneurs and a booming startup culture are laying the bedrock.

The UAE has elevated itself to be listed among the world’s top countries in several noteworthy categories. From having ranked at the top of the list amongst the MENA countries and 19th, globally in the World Investment Report 2022 and attracting FDI worth more than $20 billion to being listed first in the Global Entrepreneurship Index, these achievements are a testament to the country’s efficiency in developing a world-class entrepreneurship system. Startups are centric on the government’s aspirations to transition to a non-oil-led economy, this is pivotal in defining the country’s future

With unmatchable government incentives, a diverse funding ecosystem, favorable business standards, and a growing per capita income customer market, UAE is making strides to realize its target to house 20 unicorns by 2031. Given the existing business ownership laws and the recent landmark changes to visa policies, more foreign investors and entrepreneurs will be attracted to the country.  Dubai alone has witnessed a 25% growth in applications for a business license, accounting for more than 45,000 in the first half of 2022.

Expeditious growth

Despite high inflation worldwide, UAE is maintaining a strong foothold in the market. Massive growth has been witnessed across several sectors. UAE economy is forecasted to grow by an annual 5.4 % this year, making it the strongest annual expansion since 2011. Adding to the existing 27 Comprehensive Economic Partnership Agreements, the country plans to sign 8 more, aiming to attract substantial foreign investment inflows.

Entrepreneurial Nation Initiative, a leading national platform to drive transformational growth for UAE’s entrepreneurial ecosystem has recently signed four agreements under its phase II operations. This initiative encompasses three stages and forges public-private partnerships to support the global expansion of UAE’s new ventures. RAG Global firmly believes in building the UAE as a nation of entrepreneurs and has been an integral part of the ecosystem since 2015.

Capability building ecosystem 

Behind empowering these entrepreneurs to navigate the vast landscape of GCC markets and witness a hindrance-free entrepreneurial journey are several capability-building ecosystems. Encompassing expert UAE business setup and consultancy firms like RAG Global Business Hub, incubators, and several privately owned and government-mandated accelerators, these hubs have supported the launching of several thousands of startups. From providing nascent startups access to high-tech labs and software to assisting them with workspace needs and compliance advisory, these hubs play a pivotal role in creating an ecosystem for establishment. At RAG Global Business Hub, we have advised our clients on the market opportunity & potential, business structure, capital requirements etc. based on thorough market research and has led them to glorious success.

Setting up your business in the UAE

As the country witnessed a major flow of investor money from across the globe, the importance of incorporating highly specialized infrastructure is substantial. Budding companies are thus readily associated with business consultancy services. Ranging from office space/coworking solutions, corporate and legal consulting to IT consultancy, businesses are heavily relying on tooling up with expert insights in an ever-competitive market.  Likewise, for foreign investors, it becomes overwhelming to keep in line with all UAE business laws centric to their business activities. Thus associating with niche business setup experts like RAG GlobalBusiness Hub helps create a more conducive environment, overall.

How is RAG Global contributing to the vision of building the UAE as a nation of Entrepreneurs.

The UAE is growing fast and is well-positioned to provide amazing opportunities for global businesses with its exceptional infrastructure. Setting up a business in the UAE needs a trusted and professional business partner. RAG Global has been providing a range of Company Formation in Dubai, Office Space Requirements, Consultancy, Business Setup, Visa process & PRO service that aim to support your all kinds of business activities in the UAE. Our team comprise of company set up consultants, PROs, world class management consultants, market research experts etc. who can guide you through your journey in the country. With several years of experience under the belt, experts at RAG partner with you and support you in every step of the way in setting up your venture. At RAG Global Business Hub, we are committed to helping entrepreneurs worldwide start business in the UAE.