Are you looking for best small business ideas in Dubai, UAE? Look no more. We are going to list some of the best business opportunities in Dubai which you can consider in 2020.
Small Business Ideas in Dubai UAE
1# Oil And Gas
Oil and gas is a huge segment in the UAE. For years, UAE has been associated with oil. Therefore, it is a multifaceted business. This sector is strong in Abu Dhabi, which nearly earns 55% of its budget.
In oil and gas, any individual can initiate a business like in oil consultancy, gas station, oil and gas exploration and drilling, petrochemical refining, etc.
2# Fashion Apparel
UAE is famous for fashion apparel and is one of the most popular destinations. Close to a 5.5% share of the world trade, it is the fourth-largest exporter of fashion apparel.
Dubai will be the fashion hub in 2020. The lack of restriction on profit, low import duty, competitive labor costs, and low corporate taxes, it becomes the best destination for investment in the apparel industry.
3# Tourist Destination
The biggest tourist destination is the UAE. The tourism sector supports 317,500 jobs in the UAE. Tourist destinations hold 5.4 percent of total employment.
There are many hotels like four or five stars. Hence, UAE welcomes several visitors in a year and they provide many opportunities for businesses that focus on tourists.
4# Food And Snacks Startup Ideas in Dubai
There is a huge demand for food and snacks in the UAE. For the food, the UAE has a good environment.
At the annual rate of 7.1 percent, reaching $196 billion in (Dh719.3 billion) the food market will grow in 2021.
UAE will account for spending by 31%. One can open a restaurant or either can sell fast food, snacks, etc.
5# Transport Business Opportunities in Dubai
This business is always the focus in UAE. Transport contributes 8% within the service sector.
When starting this business, you must decide, what service you will provide likewise taxi, limousine service, etc.
Then how many vehicles you will start with. From the National Transport Authority, UAE, you can get the license and that will be issued for 3 months.
6# Jewelry Business
UAE is known and famous for jewelry and people often buy jewelry from there. It is a jewelry hub. Jewelry is imported from over 30 countries in the UAE.
According to Goldstein Research analyst, the UAE jewelry market size is set to reach USD 70.10 billion by 2024, over the forecast period i.e. 2016 to 2024, growing at a CAGR of 7.30%.
You can start a business as a jewelry merchant. Before starting the jewelry business, try to get some training in jewelry making techniques.
7# Advertising Business
One of the potential market in the UAE is about advertising. Worth $229m, internet advertising is set to grow, but that is set to rise to $735m in the future.
One can start this service from home. The UAE has its own rules for specific advertisements. Some other examples include advertising campaign developer, advertising consulting and developing advertising materials, etc.
8# Telecommunication Niche
Telecommunication is all related to wireless communications, the Internet, fiber optics, etc. The telecommunication industry in the UAE has grown at an annual rate of 20%.
One can start a business in telecommunication through blogging, internet cafe, and smartphone selling and repairing, etc.
9# Health & Fitness
When it comes to fitness, UAE is one of the fastest-growing countries. If you are more into health and have the necessary qualifications than owning a fitness center is a good option.
In the UAE, the addressable market for fitness is expanding. This market has shown substantial growth at a CAGR of about 9.0% during the forecast period (2018-2022). One can start as a regular gym, cross-fit gym, etc.
10# Beauty and Hair Salon
UAE includes cities like Dubai, Sharjah, Abu Dhabi and they all are considered as happening cities. People in the UAE are beauty conscious. The increasing number of beauty salons is aiding the UAE cosmetics market.
Therefore, the UAE cosmetics market is projected to grow at a CAGR of over 4% during 2019-2024.
You can set up a lady’s beauty and hair salon and can provide services like hair, feet, nails and facial services, etc. One can also establish a men’s salon.