5th Sunrise Sector: IT Business
Businessmen cutting across various industries are racking their brains over finding out new solutions that will help their business come out of the chaos created by the COVID-19 pandemic. They are forced to move into a more agile and resilient business solution as the extended lockdowns and social distancing measures have had an impact on their businesses. In short, companies across the world, including in the UAE, have realized that only an urgent adoption of digital transformation could help them come out of this chaos.
This is where the IT sector has become the frontline leader of all the industries in the UAE as the survival of every business as of now depends upon digital transformation. Remote working strategies opted by the companies, the demand for smartphone apps on essential services are offering huge opportunities for the IT sector in the UAE. There are many free zones in the UAE that offers affordable business setup solutions for tech companies such as Dubai Internet City, Dtec by Dubai Silicon Oasis Authority, SHAMS free zone and Creative City Fujairah. Each of these free zones has different sets of regulations and consulting business setup consultants in Dubai, UAE is highly recommended.
Business Opportunities for IT Sector Companies in Dubai, UAE in COVID-19 Period
Due to the COVID-19 crisis, the companies in the UAE have turned into a remote working pattern for which a robust digital solution is required. The success of companies like Zoom is proof that the IT sector is the most powerful industry that could reap immense benefits in the Post COVID-19 world. More investments are predicted for the IT sector in the UAE, as every industry needs strong digital solutions to survive.
Apart from the businessmen, the IT industry caters to the common people as the lockdown precipitated a surge in demand for various apps. Since a new economic order has come into existence, setting up a business in Dubai in the IT-related sector (apps and other digital solutions) UAE would be the most viable option for the investors. Reputed business setup consultants could help the IT entrepreneurs form a company in Dubai, UAE by ensuring regulatory compliance.
Why it is the Best Time to Set up a Business in IT-related Sectors in the UAE?
The UAE has a dedicated strategy for digital transformation and hence it could respond better to the challenges posed by the COVID-19. For the last few years, the UAE government and the business think tanks have been talking about the need for future-proofing the businesses with the latest technologies. The adoption of digital transformation has been taking place in the UAE albeit at a slower pace. However, things changes suddenly and now a time has come where the companies were forced to adopt new digital solutions overnight.
Since the COVID-19 crisis is here to stay and businesses, as well as consumers, need the help of robust software and mobile applications, the IT industry has bright growth prospects. The businesses would need better solutions to facilitate their document storage and remote working strategies while consumers need robust mobile apps to meet their daily needs. There are many opportunities for entrepreneurs to set up an IT business in the mainland or the free zones. Since the regulations in each of these jurisdictions vary, forming an IT company would be easier if the investors consult the best business setup consultants in Dubai, UAE.
How the UAE IT industry Could Help the Businesses & the Public in Post Covid-19 Era?
The role of IT companies has become more relevant now than ever courtesy of the novel COVID-19. Due to the fast spread of the virus, face to face communications in the corporate world has become an old story. The daily team meetings and conferences are now being conducted over virtual platforms. Not only has the corporate world, but even the public also needed digital solutions as they are confined within the four walls of their homes. In this background, the IT sector can help the businesses and the public in the following areas,
1. Telecommuting
Since the preventive measures for the COVID-19 was announced in Dubai and other emirates in the UAE, the businesses had to shut down their offices. However, the functioning of many offices continued without much interruption due to the timely adoption of work from strategies. The companies were able to successfully overcome the challenges of lockdown and social distancing due to digital platforms like Zoom. Such platforms have helped the companies get their work done on time. In the future, more developments are required in this area to overcome the challenges of the current telecommuting applications. This opens the door for more investments in the IT sector.
2. On-demand Apps
The lockdown has forced the public to stay at home and initially, they were worried about how could they get the essential services delivered. However, the UAE is a highly developed country in terms of digital infrastructure and there are many apps that facilitate the delivery of essential services like food and medicines. The lockdown period has caused a surge in demand for such apps and since the e-commerce business is well-developed in the UAE the public got what they wanted even while staying at home. In the Post COVID-19 era, more services will turn to the digital mode, and entrepreneurs see gold in forming a company in the UAE focusing on developing such applications.
3. Virtual Events
It is true that COVID-19 has altered the way businesses used to function across the world. In the UAE, the number of employees working at the office has been reduced and a greater percentage of the workforce has been asked to work from home. This means the companies can no more conduct important team meetings and conferences physically. Every business event is now being conducted through the electronic platform. The seminars have become out of fashion and got replaced by ‘webinars’. The digital transformation has helped the continuation of businesses in a great way. New investors who wish to start any business in Dubai or other emirates in the UAE must now think of deploying robust digital solutions for the smooth functioning of their companies.
4. The Cloud Storage
The mobile apps have been of great help in facilitating the collaboration between employees and employers while working from home. However, smartphones are not robust when it comes to huge corporate tasks. The companies need to have robust ‘cloud’ technologies to co-edit documents safely and to get access to analytics. This means the IT sector companies will see more inquiries from other businesses for more robust digital solutions.
Seek Help From Business Setup Consultants in the UAE
Even when the businesses in many countries are confused about business continuation amid the global pandemic, the companies in the UAE have been able to respond better to the COVID-19 thanks to the adoption of digital transformation. A well-developed digital infrastructure and proactive government policies have already created a favourable environment for the IT industry in the UAE, but the pandemic boosted the sector’s investment opportunities. The increase in demand makes the IT sector an ideal option to invest in. Being a tech-savvy nation, the UAE offers umpteen company formation opportunities in the IT sector be it on the mainland or the free zones. However, since choosing the right jurisdiction (mainland or free zone) is a strategic decision, the companies would require the guidance of a reputed UAE company formation experts like Jitendra Business Consultants (JBC).
JBC has a team of highly qualified business set up consultants who will assist the companies right from obtaining the business license to incorporation. JBC’s company formation experts are well-versed in local laws and regulations and hence the process of business setup in Dubai becomes an easier affair. Being a one-stop-shop service provider, JBC helps businesses comply with all the recent regulations including the Economic Substance Regulations (ESR) so that the entrepreneurs can run their business in peace of mind. JBC is committed to meet all the requirements of the clients and will help them turn the pandemic crisis into an opportunity.