Importance of Business Consultants for your Business

Importance of Business Consultants for your Business

UAE has a very inviting business landscape. Many overseas firms prefer to have their offices in Dubai or Abu Dhabi to control their MENA (Middle East and North Africa) operations. Dubai especially is well-connected to different parts of the world and has a thriving industrial and economic landscape. The UAE government has set up many provisions and regulations for the businesses to function well in the country. Business consultants play an important role in the smooth operations of all companies in the country by being a guide, mediator, and an expert on the local policies. 

Many know that the UAE has some of the best business consultancy firms to enable all businesses to do well in the region. Let us check some of the ways on how business consultants add value to your company. 

Market Research

If you are looking to set up a business anywhere in UAE, it is good to have prior research done. There are a lot of factors involved in the initial business set up and operations stage. A business consultancy firm will be able to carry out all the initial market research for your company and product/service offering so that you can be sure of all the things before starting. Many business consultants offer feasibility studies and expert opinions as part of the business set up the package. The UAE region has a diverse mix of people and if you are setting up a branch office or franchisee of an overseas firm, market research is key to modifying the business as per the UAE population for better reach. 

Legal Matters

Dubai has many free zones where it is ideal to set up new businesses. Also, many of the initial business set up formalities such as proper submission of documents need to be checked by a lawyer. Business consultancy firms usually have a panel of legal experts to consult in matters of property law, registration, taxation, regulation compliance, and many other aspects of commercial law. Having business consultants on board will also help you steer clear of any legal trouble and get timely advice on all contracts and business dealings. Also, it is handy to have a lawyer on board as per the UAE court regulates that any dispute resolution must be done by a lawyer-represented firm only. 

Financial Consulting

One of the main benefits of hiring a business consultant is that you get a team of financial experts to handle all your financial matters. UAE has recently introduced VAT as part of its taxation regime to improve the economic status of the country. Companies must have financial consultants and experts guiding them on various VAT-related processes such as registration, filing, returns, and tax calculation. Financial consultants can also help manage the accounts of the business and help in financial planning as well. Business consultancy firms have a vast experience of working with different types of firms so they can empower up and coming businesses with that knowledge. 

Marketing

One of the most important divisions in any new business is the marketing division. This is how any business looks to survive and generate sales. When launching a business in the UAE, it is imperative you know the local language, local customs, and advertisement media to make your marketing efforts successful. Business consultants have a working knowledge of the marketing network in the region and can help you with their network, associates, and advertisement knowledge to improve your marketing process. Business consultants can also analyze the results of previous marketing efforts to understand how you can improve it in the future. 

Business Setup 

Setting up a business in Dubai or any other part of the UAE can seem daunting. There are many regulations to be followed and the government issues various trade licenses based on free zone, nature of the company, type of service, and industry, etc. You have to pass the strict regulations set by the government to obtain a license. A business consultant can help you do so. Business consultants often have a liasoning team to work with government agencies while setting up your business. They can clarify any doubt you may have while setting up your company in the UAE. Business consultants also help choose the type of organization such as LLC, PVT LTD, and Partnership to suit you as per your business model. 

Local Knowledge 

When you are running a business, you need the assistance of many people. Right from recruiting agencies, to licensing agents, and vendors, a lot of sectors play a part in the success of a business. Business consultants traditionally have a strong local network and can help you gain access to many inner circles to benefit your business. Also, if you are someone who is not from the locale, you can rely on your business consultants’ knowledge to help you navigate the customs. This local knowledge will give you an edge over your competitors and help you establish your own networks quicker than expected. 

Final Thoughts

Business consultancies play an extremely important role in the overall development of a country’s working landscape. They help new companies assimilate to the infrastructure easily and also ensure that existing companies run smoothly. They provide a helping hand wherever required to all companies and enrich them with their personal experience. The presence of business consultants ensures that all businesses work within the government regulations and also capitalize on the support provided by different government schemes. 

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