Top 5 Businesses Worth Starting in the UAE Amid COVID-19
The Great lockdown has caused economic uncertainty across the world as the year 2020 has been impacted by the outbreak of the COVID-19 pandemic. The COVID-19 has put under lockdown more than 184 countries including Dubai, a land of immense business opportunities, but the government has taken many commendable efforts to flatten the curve and also to support the businesses here. Even though COVID-19 has spiralled out to be a health issue as well as an economic issue, the crisis has presented a new economic order through which new business opportunities are starting to evolve. The stay at home policies taken to contain the COVID-19 has led to a shift in the consumers’ behaviour giving rise to new business opportunities such as the emergence of e-commerce platforms.
The following are some of the businesses that are worth setting up in Dubai in the time of a global pandemic:
1. E-Commerce Business
E-commerce companies have been among the top businesses that grew during the COVID-19 pandemic. Online shopping has become the preferred form of purchasing things during the pandemic as social distancing and stay at home became the new norm in Dubai. Robust Tech infrastructure, quality internet connections, high digital penetration, and the rise of e-wallets have been supporting the growth of e-commerce in the UAE. As per reports, the retail sector in the Gulf is likely to surge to USD 308 bn by 2023 and the UAE could count for 77% of this growth. Furthermore, the e-commerce sector in the UAE is estimated to show consistent annual growth of 23% until 2022.
2. Essential Industries Such as Food, Grocery & Delivery Services
Food and grocery delivery services have been among the top two business setups that became strong when the Dubai government enforced strict lockdown measures during the Coronavirus pandemic. Restaurants are not allowed to let customers sit at the tables due to concerns of virus spread and hygiene. This situation led to more opportunities for food delivery services. Grocery remains to be a significant need for the people even if they prefer to cook at home. As the COVID-19 situation is likely to stay for a much longer period, social distancing measures would continue for some time. The continued imposition of social distancing measures would provide more benefits in the long run for entrepreneurs who wish to set up food or grocery delivery services in Dubai. People would prefer to shop the essential things online as far as social distancing measures continue.
3. Medicine Delivery & Healthcare Consultation Services
Limited access to medicines is one of the worst things that could happen during a pandemic. However, the Dubai government has made special efforts to make the medicines accessible to the residents and citizens as it is an essential thing. In the era of social distancing and movement restrictions, the patients would opt for reliable and efficient medicine delivery services. Healthcare consultation is a relatively new service that could let the patients search for and easily connect with the doctors in Dubai, UAE from their homes. Setting up a healthcare consultation business in Dubai would streamline the processes of making appointments with doctors, consultations, and payments.
4. Online Educational Apps
The COVID-19 pandemic has changed the educational sector across the UAE in a big way as many schools reopened with the help of technology. E-learning has become the mode of teaching in schools across Dubai, UAE. The schools have equipped the teachers with reliable e-learning applications and the lessons are being conducted online. The continued COVID-19 pandemic situation is likely to give rise to companies focusing on e-learning.
Apart from formal education, the online educational app companies could come handy for those wishing to learn arts and crafts. As people are likely to spend more hours indoors during the pandemic, the traditional institutes that taught arts, crafts, painting, etc. would be forced to turn online. As Dubai has made significant progress in smart technologies, investing in e-learning companies could be a profitable business strategy in the long run.
5. Personal Hygiene Product Manufacturing & Distribution
Even though most of the business set up ideas mentioned above depends upon the growth of e-commerce in Dubai, there are certain other sectors that are likely to enjoy sustained prominence in the pandemic era. Manufacture, import, and sale of personal hygiene products are likely to have a great impact in the long run. The one great lesson that the Coronavirus outbreak has taught the world is the importance of personal hygiene. This means that sanitizers, soaps, detergents, and protective face masks will be in high demand for a long time.
How Dubai E-Commerce Strategy Could Prove Pivotal in the COVID-19 Era?
The Dubai e-commerce strategy was approved in 2019 to enhance the emirate’s position as a global e-commerce hub. As per the strategy, e-commerce is likely to contribute AED12 billion to Dubai GDP by 2023. The Dubai Government’s future-ready policy on e-commerce has helped Dubai in its most testing times. During the COVID-19 lockdown, the DED has exempted the warehouses and delivery services that support the e-commerce from movement restrictions. The strong policy support for e-commerce has been one of the strong reasons why many essential needs of the residents and citizens remained unaffected during the pandemic. In the long run, as well, e-commerce is going to play a crucial role in shaping up new business opportunities as the world is slowly walking into a ‘new normal’.
Seek Help From Experienced Business Setup Consultants in Dubai
The world is passing through a tough time as the COVID-19 outbreaks have precipitated a war-like uncertainty. Many traditional businesses have felt the heat of the situation, but in line with the changes in the social conditions, new businesses are emerging. The increased awareness about personal hygiene & social distancing has caused the emergence of e-commerce firms, grocery delivery services, healthcare consultations, e-learning apps, and personal hygiene products. History has proven that the times of crisis create new opportunities and the COVID-19 period is the best time to set up new businesses. Startups focussing on the above-mentioned sectors are likely to receive more funding and the entrepreneurs who wish to form a company in any of those sectors need to consult a reputed Business Setup Consultant such as Jitendra Business Consultants (JBC).
The service of a company formation specialist is important as the entrepreneurs will be faced with the task of making a strategic decision of the right jurisdiction to establish their company. JBC’s highly qualified business setup consultants could help entrepreneurs in deciding whether the mainland or free zones are the right jurisdiction for their businesses. JBC’s company formation specialists would assist the entrepreneurs in all the steps of company formation right from the registration to incorporation. JBC is committed to helping the investors achieve their business goals even in the trying times of a global pandemic.