New business ventures on the rise in UAE

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A range of initiatives such as new visa regulations has led to a major spike in entrepreneurs deciding to set up businesses in the UAE. Flying Colour, a company which opens both free zone and onshore businesses, say the growth covers a range of sectors such as hospitality, IT and retail and that it covers the whole of the country.

According to Flying Colour, In the first half of 2019, enquiries to start-up a new business are up by around 20% and show no signs of stopping. The CEO for Flying Colour, Meet Joshi said “The introduction of new licensing and visa regulations have really eased the process of starting a new business. The UAE is vibrant, but it is also solid and has a proven track record, which is why so many people are attracted to open a business in the country.”

The government drive to stimulate the growth of new businesses in the UAE began at the end of 2017 and Flying Colour say the positive effects are really being felt now.

There has been a guarantee to give more contracts to small companies and the process of opening and maintaining a company has been made significantly easier.

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