Top 10 business ideas in UAE

A huge number of businesses in the United Arab Emirates (UAE), and across wider areas. According to the UAE'S Bureau of Statistics, about 70% of all jobs are in the UAE, with around 5% of the population working in various sectors. The most prevalent sector is that of Information Technology and Media & Communication Technologies.

It has been estimated that more than 80% of these tasks involve either human resource, clerking, accounting or banking services. Many companies have ventured into this business from the beginning of its inception and have made a mark for themselves as they grow and mature over time. Such businesses thrive on providing quality customer service while managing their costs in an efficient manner. It is important to look at some  top 10 Business Ideas in  the UAE, that can help you enhance your brand.

1) Online Education-

Online education was in fact initially conceived not long ago, when most universities began offering online courses to students on both private and public sectors. This became popular thanks to the rising need for learning institutions to develop new skills through online teaching techniques. As more organizations adopt this type of model of training, more employers are looking for qualified talent to join them. By doing so, you will be able to leverage the skills you have gained to work effectively in your field and have the added advantage of getting first mover advantages with any new product or service developments in the coming future.

2) Mobile App Development-

Mobile app development has become one of the top business ideas in the UAE that every company could use. This business idea allows you to develop apps for your target market by building it using mobile platforms such as IOS, Android, Windows Phone  etc. To create mobile apps, you essentially need access to data from third party sources. You can manage everything from a central server, through cloud storage to device management software to apps. These apps may include e-commerce sites like Amazon, KFC, Alibaba and PayPal among others. You can also use mobile applications to increase your customer experience with features such as chatbots, live support, and other functionalities. This type of business is growing rapidly across different industries, and the UAE boasts of having a high potential of creating successful mobile applications in this sphere.

3) Social Media Management-

Social media management is another top business idea in  the UAE that allows you to work on multiple streams towards building strong brand recognition. Every organization in the world today is using social media to connect with its customers. But to understand what is expected from each social media manager, it is essential to look at how the industry develops. Typically, social media managers receive a salary from Facebook Inc, which provides the platform to build networks that provide opportunities to reach out to people across demographics. They often manage brands through Facebook Groups, where people meet to discuss certain topics such as issues related to entertainment, politics, sports or anything else. However, there are many challenges, which come up in the process of gaining popularity within the industry. Among these challenges, there is always an expectation of personal reputation and image of the person. Therefore, it is necessary to pay attention to branding, communications and promotions to stay relevant.

4) Financial Advice-

Financial advice refers to the act of advising people about financial matters, such as investing, saving and spending money or other assets. It works best when it comes to making individuals who do not really want to lose their money, but might need it to survive. This type of business allows people to get professional and reliable financial advice and help them take better decisions in their lives. There are several types of financial advice available in the region. Some organization's credit guidance along with investment advice for people who lack funds for buying stocks, bonds or home loans and others who are looking for capital for investments. Another area of interest is health advice, which helps people to make knowledgeable decisions when it comes to their medical care. All these types of advice can help you improve your financial situation without spending too much time and effort.

5) Home Remodeling/Home Improvement-

Home remodeling has evolved over the years as homes become smaller and larger. For example, let us now consider what our grandparents lived for the last 20-25 years. When they were younger, they did things right and had a beautiful house and lived comfortably, and they never had a problem with their finances. Now, they needed renovations because the children got bigger and bigger, which meant that their income increased along with their expenses. It was hard for them to keep up with the demands of paying bills and also to afford a car. So they resorted to having contractors to help them renovate their houses and put together smaller rooms within the walls. Eventually, the demand for such work increased even further, leaving homeowner's needing to find ways to bring back their childhood roots all over again. This brought about the emergence of home remodeling. While the word remodeling first came into being in 2013, the concept was only later taken seriously when major cities throughout Dubai started doing renovations. Ever since then, we see home remodeling becoming increasingly popular across the region and more homes need to be renovated to give people comfortable living environments.

6) Insurance Agency-

Insurance has emerged as an incredibly profitable way to raise funds for the local economy, specifically in the case of insurance agencies. Insurers provide protection against losses or damages that result from accidents. As per reports available, the UAE alone has an annual revenue of $11.4 billion. Of this, almost 60% goes towards covering those affected by natural disasters, the highest percentage in the region. At present, the UAE is well known for the largest expatriates, who migrate to the country as jobseeker's and help fund the economy of their respective countries. Thus, the presence of migrants helps diversify the entire employment pool and makes them part of the labor force in the form of undocumented workers. Although migrant remittances don't account for much of the total earnings generated by insurance in the UAE, they play a vital role in funding infrastructure projects, schools and hospitals that are needed to cater to the increasing numbers of healthcare needs, as well as to improve education and literacy levels.

7) Real Estate-

The US is considered to be the birthplace (and sometimes residence) of the Middle East. Due to high demand for real estate in the Middle East and due to low supply, the UAE continues to lead the regional scene and provides ample properties. Furthermore, the UAE leads the region with the highest number of international investors, according to Forbes, with an average of 8 million investors moving into the country each year. With respect to property sales, the region continues to enjoy good growth every year. Since 2012, the prices of real estate have grown by 28 percent, while construction has increased by 50 percent. Considering that Dubai is the global capital of tourism, it follows that the region continues to attract wealthy foreign citizens to invest and generate wealth. People who choose to buy property instead of doing something completely different in life can have an excellent price return of up to 25 times annually. Also, due to their relatively cheap rates, many people are opting to move out of their native country and live abroad, helping in reducing the shortage of domestic laborers.

8) Fintech-

Fintech is a term used to describe a range of financial institutions that are based on technology. There are fintech in the UK, Europe, Mexico and Asia, that allow you to shop for, invest and earn without putting yourself in debt. Whether trading cryptocurrencies or digital stocks, the main aim is to deliver a superior experience. Usually, however, people want to know as soon as possible whether these products or services are legitimate. There is no specific set of rules that determines the legitimacy of a fintech business. If people decide to invest in a fintech that is associated with criminal activities, the investor risks losing his money, or he might end up with nothing at all. On the contrary, if someone wants to invest in a legitimate provider and wants to buy the most expensive Bitcoin, the chances of losing all his money go away.

9) Healthcare Services-

Healthcare services are very important in everyday life, considering that billions of people depend on the system. Even though a vast majority of these employees do not receive any kind of compensation, they still work hard day and night in order to maintain quality service delivery. Most organization's offer benefits and healthcare packages to their staff. Moreover, these packages are often linked to employee participation, employee satisfaction and overall corporate productivity. One of the key questions that should be asked when hiring employees is whether the company values and recognizes employees who deserve a higher level of compensation. Especially, during the recruitment period, it is important to ask such questions as: How will I feel about my position once I am hired? Will a promotion increase my responsibility? Is it fair to me as an employer? For instance, you might want to hire a teacher who is extremely good at teaching, but your school does not teach English. Would I be willing to learn the language while working with him? Would I be willing to start working full time as a schoolteacher? Because in the words of Andrew Carnegie, The future is not what it seems, but what you think about it. And if you don't think of giving yourself some rewards, you probably won't get them. Henceforth, you will want to ensure that the rewards or awards offered will not only motivate you, but you will appreciate the employees who worked behind your success and those who contributed to your company's mission.

10) E-Commerce Industry-

In 2011, ecommerce made up one-third of the overall internet sales. Currently, it accounts for about $14 trillion worldwide. Companies in the industry rely heavily on advertising to sell their products. That is why many advertising agencies nowadays run campaigns to promote particular products. Despite being one of the fastest-growing industries today, ecommerce remains a large segment and has been thriving ever since its establishment.