3 business trends to look out for in 2021 and 2022 (Part 2)
The UAE is now firmly cemented in its place as one of the world’s most vibrant business hubs. A vast and broad array of industries continue to grow out here, from aviation and ecommerce to travel and technology.
With much of its economy powered by SMEs, the UAE is home to many innovative and forward-thinking organisations. For that reason, it is a great place to look out for the latest trends in the business arena.
On the back of a year like no other due to the disruption caused by the pandemic, the speed of change has accelerated rapidly. So, while you will be familiar with the trends below, they are soon to become mainstays in the world of work.
3 key trends for the years ahead
Trend 1: Virtual events
Online collaboration tools have been around for many years, but 2020 was the year the world went truly virtual. In January 2020, 101 billion minutes of meetings took place via Zoom, by April 2020 it was 2.6 trillion. By October 2020, this figure was 3.3 trillion.
While the mass switch to virtual meetings and events may have been largely forced upon us, it is a trend that is unlikely to reverse. The success of major virtual events last year such as the E3 Expo has shown businesses, trade bodies and individuals exactly what’s possible.
Virtual events also carry lower cost, less of an environmental burden, and allow collaborators to get involved from anywhere in the world without leaving the house. What’s not to like?
Trend 2: Video marketing
Video marketing has been growing in popularity for many years now. However, in the years ahead, we can expect it to move beyond shareable viral-style videos to much more engaging and interactive storytelling.
Sequential ads for example are quickly gaining traction due to their popularity with audiences. According to research carried out by YouTube, almost three-quarters of the site’s users remember sequential ads more than standalone 30-second videos.
Interactive or “shoppable” videos are also expected to become big business in 2022. This style of video allows the viewer to click on products and purchase them within minutes.
If you’re not working with video in 2021, you’re likely losing ground to your competitors – 93% of marketers say it is essential to their marketing strategy.
Trend 3: Sales through social networks
Social selling has traditionally been seen as a nice extra. Another channel to complement more direct approaches such as web and email. This is no longer the case, however. With more people spending time on social networks than ever before, there is no better place to engage with and sell to your target audience.
That said, social is not all about the hard sell. Social selling is a nurturing process. You must first find your audience then engage with them, answering their queries and providing truly valuable content for free. Once trust is built, they will come to your business when they are in the market to make a purchase.
And it works. Social salespeople generate up to 45% more opportunities than their peers using more traditional methods.
Want to start a UAE business?
Are you a driven entrepreneur or business owner looking to ride the wave of latest business trends in the UAE? If so, Business Incorporation Zone (BIZ) can help.
After a short, no-obligation consultation, we can guide you through the following process.
Step 1 – Business activities
First up, you’ll need to clearly outline your business activities. There are thousands of potential activities to choose from, and it’s vital that you list any you intend to carry out on your license application.
Step 2 – Company name
Next, you’ll need to name your business. There are a few things to keep in mind at this stage.
In short, you should avoid any offensive or blasphemous language. Avoid names of well-known organisations and avoid abbreviations if naming your company after yourself – i.e. Dave Mann Consulting, rather than D Mann Consulting.
Step 3 – License application
Now you can apply for your business license. If you are setting up in a free zone, this process can be complete in a couple of days.
BIZ can handle this process for you, liaising with the managing authority of your chosen free zone on your behalf. We’ll ensure that your application is in order before submitting to avoid delays or the possibility of rejection.
Step 4 – Visas
You’ll also need a visa to live and work in the UAE. The visa application process – for you and your employees – is particular, yet straightforward. Again, BIZ can help you with this step.
As the holder of a UAE business license, you can also sponsor others for their visas too. This could be a spouse, parent or child, or a domestic worker such as a housekeeper.
Why work with BIZ?
If you’re intrigued by the trends above and are looking to take your business ideas to new heights in the UAE, it’s easy to get started.
However, forming a business in the UAE requires a level of prior knowledge of the process. What’s more, it is important to note that the application process is only straightforward if your license application is complete at the time of submission and free from errors.
To help you ensure that this is the case, it’s a good idea to work with a business setup specialist in Dubai such as Business Incorporation Zone (BIZ) when establishing a new company.
We are a team of company registration professionals who are passionate about bringing the dreams of aspiring entrepreneurs and SMEs to life.
As well as handling your license application, BIZ can also assist with the opening of corporate bank accounts and advise on the most appropriate financial institution to suit your specific needs.
We also offer visa and immigration services and can handle all government formalities, permissions, work permits and visa applications that are required to trade in the Middle East.
In short, our experts can establish your company on your behalf, make your license and visa applications, and take care of all the necessary admin – leaving you free to get on with running your business.