Posted on 29-April-2019
UAE is known as the main hub where startup hotspots can take a quantum leap to establish. On a global scene, Dubai startup hotspots do marginally better than many other startup hotspots around the globe. And there are many reasons for this.
Better tax favorable environment
Unlike New Zealand and Singapore, the UAE provides a tax favorable environment for the business to strive. This is very important for business startups looking for incentives to help them stand on their feet. There is an abundance of assistance by the government through DED to provide an enabling tax environment for businesses to survive.
Security and safety
One of the most important factors to consider in a business environment is the safety and security of your investment. The economy is stable and safe for businesses. And despite the wealthy presence of infrastructure, the economy is relatively cheap to do business compared to countries like Singapore and Hong Kong.
Ever since UAE opened business to the world few years ago, startup hotspots have gained tremendously from this development. The world-class infrastructure provides an enabling environment for startups to strive and establish. There is stable political system, solid banking system, as well as well-established infrastructure on ground. Apart from these benefits, UAE is located strategically where business organizations can easily have access to other emerging economies. These are what makes UAE an excellent choice for startups.
Strong support of the government
For any startup company to strive, it needs to have a strong backing for its government. The UAE government is really doing a great work to help startups in the country. In fact, about 95 percent of all businesses in the country are all startups. That tells you the magnitude of support they receive from the government. There is a plethora of incentives the UAE government offers small startups to help them grow their enterprise.
Technology and a thriving economy
Anyone who wants to make a list of the world’s biggest tech economies will always include UAE to their list. Although countries like the USA and Japan are leading the chase when it comes to technology, UAE is not far behind. The country’s giant stride in technology has been helped by a stable and healthy economy. The UAE has a solid infrastructure and a good finance structure that has given 2 world-class unicorn companies their solid base. Souq and Careem Networks are doing exceptionally well in the world today, thanks to the solid technologically friendly environment they have in UAE.