05/21/2013

Posts Comments

Uae Free Zones Make International Trade A Breeze!

10/01/2012 By

If you thought setting up an import/export or other type of business in the United Arab Emirates (UAE) would be a difficult, if not an impossible undertaking then you would be in good company. But the reality is completely different thanks to the large number of free zones which make setting up and doing business in the country a real breeze!

And if you’re at all worried about cash flow, documentation, regulation and all the other teething problems which business people the world over tend to fret about when thinking of setting up shop in a foreign land, then don’t be. Some of the best banks and financial institutions are literally on hand and ready to offer all the advice, assistance and funding you’re ever likely to need.

Go online and check out international trade finance from HSBC, for example, or the import services or export services offered by Citibank, or Barclays, or any of the dozens of other major international and home-grown banks operating within the UAE. They’ll also be happy with a face-to-face meeting, too, where any worries you may have over factoring, for example, or documentary collection can be discussed. Talk about being spoiled for choice. The whole of the banking world is there, ready to help you make your business a success!

Free zones, while not a recent innovation, are certainly increasing in popularity across the world, helping to drive international trade in areas which historically have not been associated with the levels of foreign investment and business seen in more developed economies. Known variously as free economic zones, duty free zones, free trade zones, or tax free zones, free zones as we know them today began in the 1920s in South America. Their aim was to facilitate international trade by removing customs and other regulations. There was an upsurge in the 1960s and 1970s in particular which saw them spread rapidly across the world. Now there are literally thousands of free zones in more than 100 countries, employing tens of millions of people between them.

The UAE has set up dozens of free zones operating across a range of industries and services, all offering first-class facilities, purpose-built if necessary, and state-of-the-art infrastructure. You would be hard-pressed to find anything better anywhere. But, of course, there’s a lot more on offer than just simply bricks and mortar.

Benefits usually include 100% foreign ownership of any company you set up; no taxes levied, whether corporate, import/export or personal; 100% repatriation of capital and profits; no foreign exchange controls imposed; round-the-clock operation allowed; three-year residency visas granted, which are renewable.

One of the best-known free trade zones is the Ras Al Khaimah Free Trade Zone (RAKFTZ) which has been going since May 2000. The zone consists of a number of parks, including business, industrial and technology parks. It is situated in the emirate of Ras Al Khaimah in the northern part of the U.A.E. and is some 45 minutes by road from Dubai.

Through a superb marketing and awareness campaign, the RAKFTZ now enjoys a worldwide reputation and has registered no fewer than 4,500 companies from over 100 countries. Click here for more information.

Filed Under: Business, Finance, Growing Your Business

Meetings for the Self-Employed

07/17/2012 By

Good business is built upon many things: strategic planning, excellent execution, top-notch staff and positive market conditions. Yet above all, business is about inter-personal relationships and so much of success owes to being able to forge strong and lasting connections with colleagues, clients and stakeholders. In this light meetings are so incredibly important, no matter what business you are in. This is easy for denizens of the 9-5 world as their cup runneth over with available meeting space handily booked through Outlook, yet self-employed workers might find this significantly harder. Indeed, if you work on your lonesome you may find it very hard to attain meeting or conference facilities.

The easiest way to surmount this problem is by meeting at your client’s offices. This works out well for both parties as busy people will generally welcome it when you come to them, and it will save you the effort of booking rooms. Beyond that it gives you the chance to integrate fully with their business, as though you may have only one contact you are likely to work across a broader swathe of the company – heading in and meeting a variety of people is always a good thing.

This situation falls apart if you want to hold a highly focused meeting which you can control. In another office you don’t have the ability to really play host and set up all the variables you need to succeed (whether they be technological, atmospheric or otherwise). In this kind of situation its best to check out serviced office complexes as these often will allow you to rent conference or meeting rooms on an hourly or daily rate. Find somewhere with professional looking digs and you will be just fine.

Being self-employed is a parade of challenges (not that it’s not worth it), sadly finding somewhere to meet is just one of those. Thankfully services exist where you can rent office space, and failing that everyone loves a house call.

Filed Under: Business, Business Planning

Business Espionage That Won’t Break The Bank

07/06/2012 By

There are plenty of online consultants willing to help business owners with competitive intelligence, although this is generally costly. Thankfully, there are cheaper ways for self-employed people to get the competitive edge, through their own DIY research, all it takes is a little time.

Companies House

Look up companies house UK at Duedil.com. Companies house data is an online gateway to comprehensive business information, about two million companies in the UK. It’s free to check company names and addresses in a searchable index. Gather in-depth insights into the company’s filing history, document images and company reports.

Join the Twitter Chatter

Self-employed people who haven’t joined Twitter or underestimate its power, should rethink that decision.  This social networking site buzzes with a constant stream of short messages, some revealing and others irrelevant. It’s possible to zero in on company’s daily ruminations, or prominent people’s thoughts on issues. It’s also possible to spot industry trends before they happen, and important need-to-know news.

Monitor Their Staff 

Not nearly as creepy as it sounds. Start with the ‘About Us’ page on their website. Also keep abreast of their recruitment process and new job postings. This will reveal what qualities they are looking for in staff and any plans for future expansion in some areas. Take a forensic look at the backgrounds of the high flyers in the company. Normally, company executives will have their resumes available online, or the website will have insights into their professional past. This is helpful to learn about their management style and the future direction of the business should you decide to work with them.

Google Alerts

Google Alerts takes the hard graft out of gathering data on competitors. It has the two-fold purpose of gathering intel on competitors, and also feeding back information about one’s own company. This is done by setting up alerts for particular keywords and phrases, that trigger an email notification, each time the word or phrase occurs in a news story or blog post.

For example, Google Alerts could be set up for your own business, plus a couple of main competitors and the directors of these companies. Yet another handy and free innovation from the web wunderkinds.

It’s never been more important to gather intel on competition, than right now. Self-employed people can swim alongside of the big fishes and those of many varying shades; when they look up companies house UK online, join twitter and follow the minutiae of their competitors working lives.  All it takes is some strong coffee, some time and a good broadband connection.

Filed Under: Business, Business Tools, Finance