Getting a business off the ground is not easy. It takes drive and determination, blood, sweat and tears – and, of course, an incredible support network.
No business is an island. There is not a company anywhere in the world that has succeeded without partnership, collaboration, networking, or branching out. It is these actions that support growth.
So, if you’re wondering how to grow your business in Dubai, you’ve come to the right place. Business Incorporation Zone (BIZ) is not just among the best company formation specialists in the UAE. We’re also on hand to help you accelerate the expansion of your enterprise through every stage of your journey.
In this article, I’ll take a look at some of the most effective tactics used by businesses of all sizes to drive growth – and run through the easiest way to start a new company in the UAE.
Create an affiliate programme
An affiliate marketing programme can be an incredibly effective way to generate new leads, and, in turn, new customers.
Essentially, affiliate marketing is when selected individuals or businesses promote your offering on your behalf. In return for this marketing service, they receive a commission on each new sign up or product or service sold.
Affiliates have special tracking links which allow you to monitor how much traffic and revenue each one is bringing to your business.
Setting up an affiliate network is as easy as generating links and finding those best placed to distribute them for you. As well as building your own network, you can also approach existing affiliates in your niche.
Open a new location
If you’re already overseeing a successful enterprise, opening in new markets can be the fastest way to expand. And, depending on where you wish to set up, it can be a relatively quick and inexpensive process.
In the UAE, for example, existing businesses have the option to open a foreign branch. This allows you to trade in the country under the parental umbrella of your existing business.
When you open a foreign branch in the UAE, you can only undertake the same business activities as your original business, and the branch does not have a separate legal identity. However, this approach allows you to quickly gain a presence in a new market without incorporating an entirely new business.
Form strategic partnerships
One of the biggest mistakes made by startups and small businesses is attempting to do everything in house. When cash flow is tight and resource limited, the best thing you can do for your customers and your business is form strategic partnerships across all manner of specialisms.
When you form partnerships, you get instant access to experts and immediately add to the skill set of your business. This allows you to broaden your offering, provide more tailored support to your customers, and realise opportunities for referrals.
Enter new markets
Look at the world’s fastest growing businesses and you’ll find few that have not diversified into new markets.
Amazon was once a book seller, Apple sold little more than computers, and Netflix started out delivering DVDs by mail. That’s not to say you need to pivot to these proportions but it’s always worth looking for new areas to enter.
Look first at peripherals. It could be as simple as turning your shirt-making talents to socks, hats or handkerchiefs. Don’t forget to look at your data and systems too. Could they be repurposed to add value in a new arena?
All eyes have been on the internet for some time now. However, influencer marketing is a relatively new phenomenon.
And if you haven’t at least explored its possibilities yet, you probably should. Why? Because almost half of consumers say they depend on influencer recommendations to make purchasing decisions.
But that’s not all. Working with influencers can give you an established and trusted voice in markets you may otherwise be unable to access. Influencers are also much more authentic than many other forms of messaging.
What’s more, there are few gatekeepers in the world of influencer marketing. Find those you wish to work with and make them an offer. It could be that simple.
Focus on acquisition
If you’ve got funds at your disposal, the fastest way to grow is almost certainly through acquisition. Buying businesses allows you to add the finished article to your enterprise. Find organisations with the talent, resources and capabilities that you require and bring them on board.
Of course, it’s not quite that simple. Acquisition can be a fine art. You’ll need to find businesses that tick all your boxes, are motivated to sell at a price that works, and integrate your new arms seamlessly into your wider operation.
But it’s well worth the time and focus to get it right. Truly, there is no faster or more tried and tested route to expansion.
How to grow your business in Dubai with BIZ
If you’re armed with the right knowledge, gaining a presence and growing your business in the UAE doesn’t have to be overly complex.
That being said, it does require a level of prior knowledge of the process. What’s more, it is important to note that expansion is much more straightforward when you work with the support of an expert.
To help you ensure that this is the case, it’s a good idea to work with a company formation specialist such as Business Incorporation Zone (BIZ) when operating in the UAE.
We are a team of company registration and Dubai business setup professionals who are passionate about bringing the dreams of aspiring entrepreneurs, startups and SMEs to life.
As well as handling license applications, BIZ can also assist with the opening of corporate bank accounts and offers a wide range of value-added business services.
We also provide visa and immigration services and can handle all government formalities, permissions, work permits and visa applications that are required to trade in the UAE.
In short, our experts can establish a branch or new company on your behalf, manage your license and visa applications, and take care of all the necessary admin – leaving you free to get on with running your business.