It’s been quite a year for Business Incorporation Zone, and 2023 promises to hold even more great memories.
We sat with General Manager, and multiple award winner in 2022, Basma Ashry, to reflect on the year that’s been, and look ahead to the year that will be.
Hi Basma! Happy New Year.
Happy New Year!
Now that the fireworks have settled, how do you reflect on 2022?
2022 was a year we made a lot of great things happen. It always felt like we were never too far away from the next big thing, whether it was an event, a campaign, or just the next source of excitement.
With that said too, we made great strides as a business. We were recognised by Sharjah Freezone as a High Performing Partner, and Gulf Business and Gulf News featured team members in interviews and articles published on their reputable channels. That was nice, and well deserved recognition.
Just how much progress has the team made this past year?
It’s been incredible, really. Not just the development of the team overall, but the individuals within them as people. That’s possibly my favourite part of leading this team – watching the people within it develop and grow. I know I can trust them to take care of our customers. Business setup in Dubai is becoming so popular now, with entrepreneurs approaching us from markets across the globe. The fact that the team has kept pace with demand is testament to their progress and determination to do well.
Talk us through some of your standout moments in 2022.
Oh wow – where to even start! Well firstly there were so many memorable moments. Women’s Day, the Iftar Party, and the Business Incorporation Zone Golf Day spring to mind. The days when we get everybody together and celebrate the team are for sure some of my favourites. Winning team awards and personal accolades too are always welcome, too. Those are notable highlights, but to be honest, there have been so many little moments throughout the year that have contributed to the success of the business throughout the year, and they hold their own special value.
Which moment stands out to you the most on a personal level?
A little bit left field, but I am so so proud of being able to sit down with Steven Bartlett at the Dubai Opera House, back in March, and talk entrepreneurship. Steven is a very inspirational character, achieving so much in his short career so far. His podcast always has such great guests too, it was nice to be involved in a similar conversation. And of course, winning the Emerging Female Business Leader accolade is just so humbling. There is honestly no magic formula, just do your best each day and be proud of your work. The rest will follow.
Is there a particular client success story that stands out to you from the previous year?
Yes! We actually ran a competition last year giving away a free trade license, allowing a local entrepreneur to complete their business setup in Dubai without the usual setup costs. That’s something I will never forget – giving like minded people the opportunity to fulfill their dreams.
2023 Dubai Business Updates
Looking ahead to 2023, what are the first items on your to-do list?
Well, there’s a lot of change coming to Dubai in 2023, so getting the full picture of the impact of these changes is crucial to us as a team. It’s critical we keep our customers informed, and have the most up to date information. Then, I’ll be setting the direction for the company and identifying just how to achieve the goals we’re aiming for. It’s all very top level stuff to begin with, heading down to the finer details as we go.
What are the key business updates for entrepreneurs to know about for the coming year?
We will be going into some detail about many updates in the coming months. Most notably for entrepreneurs across the country is the introduction of a 9% corporate tax. If your business makes over 375,000 AED in profits, you’ll be subject to this tax. If not, it won’t apply to you, but I’m sure you’re aiming for those heights! There will of course be some exemptions too, so stay tuned for the finer details. There are also Emiratisation requirements now, as well as a mandatory social security scheme – reach out to us if you’re not across these updates just yet, as they will undoubtedly impact business setup in Dubai for everybody.
What’s a personal aim you have for 2023?
I try not to be too strict on my personal goals. Just show up, every day, do the very best for my team, and see where it takes me. I won a couple of awards for it last year, so I must be doing something right!
We can’t wait to see how it all unfolds. All the best Basma!
Thank you so much! You’ll be seeing our name plenty this year.