What are the top business activities business people have been concentrating in 2018?
Dubai is a fast-growing business environment and keeping track of business activities is just too interesting to miss. In this article, as a summary we will look at the results of business licenses issued in Dubai and the top activities of the same licenses.
Business Licenses in Dubai 2018
In 2018 Dubai has experienced significant growth in the number of business licenses. Department of Economic Development (DED) reported 25 per cent increase in October 2018 with 1 898 new licenses compared to the same period in 2017.
The results are great, as in the first nine months of 2018, the Business Registration and Licensing (BRL) Sector of the DED issued 13 825 licenses.
Dubai has digitalised the majority of renewal and business registration processing. Hence, the digital platform of DED showed 27 265 business registration and licensing transactions and increase of 23, 3 per cent in October 2018.
The speedy license renewal also resulted in 12 989 transactions whereas 5 758 transactions were conducted via text message for auto renewal.
Top Business Activities in Dubai 2018
We have prepared two short summaries: one summary is based on our review and internal evaluations; another one is based on data of BRL.
Business Activities evaluation
In 2018 the business activities have been from wide industries. The most frequently formed companies were trading companies in oilfield for international trading, spare parts trading, food and cosmetics trading. Although Dubai has been a popular place for trading activities, the big interest in international trade via Dubai and overall the UAE has significantly increased in 2018. Consultancy is also a big trend. However, consultancies were mostly popular for narrowed specialties such as aviation, finance, and legal consultancies. Tourism, beauty salons, and Information Technology companies have been also popular for new entries. There have been many marketing companies and CRM system developers formed in 2018. The high interest in these industries is mainly due to the market demand and speedy technological development of the UAE. The more Dubai becomes international, the more business are keen to form companies here.
Management consultancies were at the lowest requests whereas investment activities were among the most popular requests. Real estate companies are still at high level of requests.
What official data says?
Among business activities, contracting services were at the top of new licenses in the first ninemonths of 2018, followed by consulting management and information, maintenance of buildings and security guards and cleaning.
Among the top business licenses 62,1 percent were commercial, 35,5 percent professional, 1,4 percent related to industrial and 1 per cent tourism.
Trade and repair services accounted for 32 per cent of the new licences, followed by real estate, leasing and business services with 26 per cent, and building and construction with 16 per cent.
The report showed that the top nationalities that secured licences in October were from India, followed by Pakistan, Egypt, Britain, Bangladesh, Jordan, Saudi Arabia, China, Sudan and the Philippines.
The report highlighted the distribution of the new licences during October with Bur Dubai accounting for the largest share (972), followed by Deira (918), and Hatta (8).
Trade and repair services accounted for 32 per cent of the new licences, followed by real estate, leasing and business services (26 per cent), and building & construction (16 per cent).