Hit the ground running: Business Start-up 101
Are you a budding business owner? Sentinel’s Prajit Arora shows you how best to test the waters in becoming an entrepreneur in the Middle East.
December 6, 2011 3:54 by kippreport
…complete your trade license paperwork. You also need to do the simple things like opening a bank account and setting up a phone line, so potential clients can contact you.
This is where companies like Sentinel come in, which can provide you with a range of strategic and cost-effective services designed to help your business get up and running in the UAE. This could include a fully-equipped office space, a network of local partners, work permits and UAE visas.
Another main concern is office space. Some businesses require more than others, and much like moving into a new home, it is not always easy to get set up. Office fit-out, rent agreements, utilities and telecommunication connectivity, not to mention inconvenient locations all create unnecessary headache for many new business owners. Our service eliminates the logistical hassle and helps businesses focus on the things that really matter.
In addition, our centrally located Serviced Offices provide a cost-effective alternative to the normal annual corporate leases, as our short term office rental also reduces cash flow by offering a manageable, monthly office contract, as opposed to upfront annual rent which needs to be forked over in most office buildings.
A great piece of advice I like to share with new business start-ups is to build infrastructure early. This doesn’t mean build a big factory or a fancy office. It simply means keep accurate customer records, a clean set of updated books and a technology foundation, if necessary. One of the downfalls of many small businesses is that they don’t know if they’re making or losing money. Another downfall is when small business owners try to sell their company years later but lack accurate customer history and customer information. Many times, the customers of a small business are its best asset, and, without the records, the small business can be sold only for salvage.
Hit the ground running
Running your own business is a rewarding but engaging career and life choice, and despite the global economic downturn, the UAE is seeing an influx of new businesses and daily. This path demands your time and focus. Cover all your bases, tick all the checkboxes, dot the “i”s and cross your “t”s; nothing beats having a really great foundation for your business so that when you are ready to launch, you can hit the ground running!
Prajit Arora is the Managing Director of Sentinel Business Centres.
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