Small Business Awards
Links are pleased to announce their continued support of the Lloyds TSB Small Business Awards in Dubai.. Last year the overall winner was ‘Wet Fish’, a Links Group company with other Links companies winning in their categories. This year Links COO Julie Irving will be sitting on the judging panel and here are her top tips for new businesses setting up in the UAE.
The tips!
- Ensure you conduct thorough market research
- Prepare a realistic business plan
- Ensure you have enough cash to sustain your business for at least three months
- Take in to consideration that payment terms in the Middle East are significantly longer than that in other parts of the world
- Ensure you find yourself a good local partner – remember the relationship is the same as a marriage, not one that should be entered into lightly.
- Ensure your product or service conform to the sensitivities of the region
- Remember everyone’s an expert! Place your trust in a recognized company formation specialist.
- There is no such thing as ‘cheap labour’
- Be patient.
- Have fun!