Finding a Business Partner in UAE: What to ask For and what to expect
In the Middle East, the UAE (United Arab Emirates) is recognized as the Arab world’s second-largest economy, presenting a significant opportunity for foreign companies looking to expand internationally. However, establishing a new business in this region can be challenging due to various significant factors, including increased geopolitical risks.
Therefore, it’s crucial to seek a serious and well-established local presence and support that can navigate both economic and cultural landscapes. This support is essential in providing the right context for establishing a business in the Middle East, specifically in the UAE.
Keep these guidelines in mind as vital when you are seeking a business partner in the UAE or in the broader Middle East region.
The Emirates, an area of greatest economic interest for the Middle East
If you’re considering why interest in the Middle East and particularly in the UAE is growing, note that the UAE boasts a business-friendly environment with relatively fewer restrictions on international trade and investment.
Additionally, the UAE is diversifying its economic activities beyond traditional sectors. It’s moving away from an economy primarily based on oil exports to include sectors like tourism, finance, technology, and the green economy.
Historically, the UAE’s economy has been heavily reliant on oil. However, the country is actively reducing this dependence. As a result, fluctuations in oil prices now have a lesser impact on the nation’s overall economic health, thanks to these diversification efforts.
Moreover, the average income per person in the UAE is relatively high compared to other countries. High per-capita income typically correlates with a higher standard of living and greater purchasing power among the population.
These factors collectively make the UAE, especially its major cities like Abu Dhabi and Dubai, attractive for business and commerce. Abu Dhabi and Dubai are key hubs for banking, investment, and other financial services. This status, coupled with the UAE’s other economic characteristics, enhances its appeal to businesses and investors worldwide.
The current geopolitical instability in Middle East doesn’t affect UAE’s resilience
The Middle East is currently facing a period of uncertainty, particularly due to the ongoing conflict between Israel and Hamas in the Gaza Strip. This situation, which has started into 2023 has understandably raised concerns among investors.
Despite these challenges, the United Arab Emirates (UAE) is perceived as a stable and secure market for investments. This was also a key point of discussion at the “The UAE 2031: Growing Beyond Borders” panel during a recent investment forum.
Experts at the forum highlighted the UAE’s resilience amidst regional geopolitical instability and its ability to continue attracting investments, thanks in part to its business-friendly laws and regulations.
Middle East is a strategic location
The UAE is actively seeking to attract more investments in several key sectors, including agricultural technologies, manufacturing, financial technologies (FinTech), education, health care, and ICT (Information and Communication Technologies).
The region offers abundant opportunities for growth and success in these fields. These sectors present valuable opportunities for those interested in internationalizing their business in this region.
However, there’s an essential question every entrepreneur should consider before expanding abroad: Is my company truly ready for this step?
Consult with us, if you want to understand the steps toward business internationalization and make an informed decision with a Business Consultant!
The importance of having a business partner consultant in the Middle East
Despite the numerous opportunities available, it’s important to acknowledge that entering and operating in the UAE, or more broadly in the Middle East, cannot be easy and without some valuable risks.
Navigating the market’s legal, cultural, economic, and competitive aspects can be daunting without specific knowledge or assistance, which one might not possess initially.
The complexities of the market can be more effectively managed with the support of a reliable business partner and consultant. A local partner with in-depth market knowledge, combined with an expert consultant providing professional advice, can be invaluable.
This guidance can help minimize risks and maximize opportunities, and avoid costly mistakes that could lead to significant financial losses or other negative consequences.
How can a local business partner assist?
A consultant on-site can offer several key advantages:
- Helping to overcome cultural barriers
- Providing valuable market insights
- Connecting with potential clients and suppliers
- Guiding through legal and regulatory procedures
- Enhancing credibility and reputation in the region
Especially for newcomers to the market, a skilled business consultant in the UAE can offer a deep understanding of local business culture, expert advice, and customized solutions in various areas, including market research, strategy development, marketing, and technology.
Your business partner in UAE, how to find and choose one for your company’s needs
Finding the right business partners in the UAE can be a considerable effort, requiring thorough research and careful consideration.
The process involves several key steps:
- Establishing relationships with potential partners who align with your company’s goals and values.
- Overcoming language barriers that can lead to communication difficulties, as well as understanding the timing of decision-making processes.
- Aligning with business cultures, practices, etiquette, and norms specific to the UAE.
When seeking a business partnership in the UAE, it’s important to focus on several crucial elements.
Start by identifying your business objectives and the qualities you’re looking for in a partner. Among the things that matter, consider the following as strong pillars:
- Experience and reputation in the relevant industry.
- Compatibility with your business model and objectives.
- References and certifications that attest to their credibility and expertise.
In terms of soft skills, the ideal partner is someone who is easy to work with and can provide personalized attention. This ensures a smooth and effective collaboration tailored to your business needs.
Services we provide in the UAE
Our vision for international expansion is grounded in our extensive field experience. We work closely with our clients, offering both business development and operational support.
As a strategic asset, we offer:
- Evaluation and Analysis
- Market Research
- Strategic Positioning
- Building Relationships
In terms of operational support, we provide:
Our Engineering division comprises a skilled team of engineers and specialists dedicated to assisting partner companies in quickly establishing enduring business connections. We offer a reliable and secure approach to enhance the demand for technological, innovative, and high-quality products among international clients.
Consultancy & Services
We offer a comprehensive suite of consulting services, equipped with the necessary tools and expertise to help partner companies thrive. Our strength lies in our continuous collaboration from start to finish, focusing on the unique needs of each client. We are committed to generating innovative ideas, crafting effective strategies, and developing top-tier solutions.
Our IT support for companies and ITC services are designed to support and deliver the finest technical solutions, including advanced hardware, to meet diverse requirements. Every product we supply undergoes rigorous quality checks before being introduced to our customers.
Software – Advanced Technology
We use cutting-edge software to strategize and collaborate with specific partners, finding the most effective solutions. Each software solution we propose is designed to help companies manage their operations efficiently and effectively.
Why choose us as your business partner in the Middle East
Our motto, “Excellence is a reward”, signifies that excellence results from hard work; it cannot be bought but must be earned through dedication. We embody this mindset in our operations.
By partnering with us, you can advance towards excellence in your business. Excellence doesn’t happen by chance; it’s the result of great work, an open mindset, continuous growth, innovation, teamwork, and a passion for what we do. Nothing comes by chance; it must be earned.
To summarize in bullet points:
- 25 years of experience in the field, with over 300 active collaborators globally and 15 synergistic companies.
- Customized approach tailored to the client’s needs, focusing on partners at a national level or in specific regions.
- A ‘partnership’ approach aimed at establishing long-lasting relationships and deep integrated connections, beyond a mere supplier relationship, focused on supporting the client’s objectives.
Contact us, if you have questions or want to use our services.