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Common Challenges Entrepreneurs Face in UAE

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Common Challenges Entrepreneurs Face in UAE

New business setup is not an easy process. Dubai is a business hub, and where each service is available for businesses to use and improve their abilities, business owners must face different problems. It shows the fact that it is not always fun and profitable when operating a business. Sweat and hard work are needed to build a successful business setting in Dubai.

To reduce the burden of so many business tasks that exist, business owners try to get help from business consultations such as Dubai’s business settings. Hiring them provides expert advice for your business setups. They also help you with visa services, trademark registration, bank account opening, etc. The business owners can follow their most important tasks and leave the rest on setup consultants.

Also Check – 5 Top and Significant Tips for Moving to Dubai

Why is Dubai Best Location For Entrepreneurs?

Entrepreneurs choose UAE to start their business abroad because they have researched and been amazed by the acceleration of the region’s development. UAE is always in the spotlight in print and electronic media for its innovative product, reforming foreign investment policies, new startups, and company frameworks.

Apart from all the rumors ignored about slow economic growth in the region that appears after several years, the UAE continues to exceed current expectations and estimate investors and entrepreneurs with the development, evolution, and growth of the next level.

What Are The common challenges Of Doing Business in the UAE?

Dubai’s business setup has many advantages and opportunities, but good things never come easy. They bring a lot of challenges and hurdles in the path of a new journey.

Some of the significant challenges faced by entrepreneurs starting a business in Dubai are as follows-

  • Company Ownership-

If you plan to start a business in Dubai, you require a local sponsor for the same. If you want company formation or business setup in Dubai mainland or offshore, you need a parent who has 51% of company ownership. 

The main challenge is to find a reliable and trustworthy partner in a foreign country. Other than this, the foreign partner should know and understand the UAE market, laws, culture, and other local business operations. 

Although Freezone companies don’t need a local partner and give 100 percent ownership with zero taxation policies and many other benefits, they have limited visa approval and tiny offices. 

  • Understanding UAE Business Culture and Particulars

UAE has business regulations like trade licensing, visa regulations, marketing specifics, etc. A person starting a company in Dubai should be well versed with its rules, regulations, legal policies, etc. 

A person should understand the culture and traditions before starting the business, like norms related to the employee. 

You need to understand the traditions, culture, and religion properly. 

The particulars include knowledge about local holidays, employees, cultural norms, etc. 

  • VATImplications

All the transactions help inside UAE, and other gulf countries are subjected to VAT. The tax is applicable at the rate of 5 percent. All the business services, goods, logistics, etc., have the impact of VAT.

If you plan to set up a company in Dubai, then check the VAT filing details. It is one of the biggest challenges for setting up a business in Dubai. If you fail to comply with the UAE’s tax system, you will have to pay huge fines. 

  • Fund and Expense Management

Often, entrepreneurs do not realize that preparing a business, whether in the free zone of Dubai or land, can take a lot of money, not because of taxes and registration but because of the business’s rent and equipment. For this reason, cash flow strategies must be developed so that expenditure can be arranged for business progress. 

Language Issues

The official UAE language is Arabic, despite the usage of English for business communication. However, while hiring local employees, foreign companies must ensure that employment contracts, records, training manuals, and other documents are in Arabic. The company may need to find local translators or legal experts who can help them with Arabic and English languages.

Funding

For new business startups, arranging funds can be challenging. There is a very limited venture capitalist to support new businesses in the UAE. Getting funds from UAE banks is a very time-consuming process and requires a lot of paperwork. 

Difficult to getting Work Permit and Visa

Foreign employees need to get a work permit or place to live and work in this country. Foreign entities bring employees abroad to the UAE, especially need to follow visa norms. The company also needs to comply with the Directorate General of Residency and Foreigners and Ministry of Human Resources & Emiratization regulations.

Employment

When you start a new company in Dubai, UAE, you will need some local employees to work for your company. UAE has a stringent set of guidelines and methodologies for this. Hiring local employees can be a big challenge for one who is not aware of these regulations and practices. 

Employee Management

Another challenge in doing business in the UAE is managing local workers efficiently by local law and compliance. Employee management can be difficult because of differences in culture, language, and administrative approaches. 

Management of payroll and taxation of employees according to the UAE law may also look complicated. Also, foreign companies need to follow the Wage Protection System (WPS), along with payment of services and other benefits.

Dubai’s market is highly competitive and challenging. But if you correctly understand the process, cultures, and rules of doing business, you can run a smooth and hassle-free trade. If you still face any problems, it is good to hire a business setup consultant in Dubai. They will help you through the complete process of business setup. They will also help you with other tasks like bank account opening, pro services, trade license, etc.

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3 Steps To Becoming a Real Estate Agent in Florida

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real estate agent florida

Real estate is an exciting, lucrative career filled with countless benefits. From creating your own schedule to helping home buyers find their dream house, real estate is a fantastic profession.

But what are the steps to becoming a real estate agent, and what do you need to qualify for this profession? All realtors must have certain academic qualifications, along with the necessary courses and exams.

If you’re interested in learning how to be a real estate agent in Florida, then look no further. This real estate agent guide will explain all the necessary steps to becoming a real estate agent.

Steps To Becoming a Real Estate Agent

The first step is to review your education. You’ll need a social security number to move forward with licensure, so if you’re 18 years or older and have a high school diploma or GED, you can move on to the next step.

Pre-Licensing Hours

All prospective realtors in Florida need at least 63 hours in a Pre-Licensing class. Once you complete these hours, you’ll be eligible to take the exam. You need to take Florida Real Estate Commission (FREC) approved courses.

Exam Requirements

Once you take the approved course, you’ll have two years to take the licensing exam. To qualify for this exam, you’ll need fingerprinting and to apply with fees to Florida’s Department of Business and Professional Regulation. This will permit you to take the Real Estate Sales Associate Examination or the Florida Real Estate Law Exam.

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Fingerprinting can be done electronically and costs roughly $54. Some real estate agent tips include submitting this application before your class is complete. Since it can take up to 30 days for your application to be processed by the state, submit it as soon as possible.

If taking the Real Estate Sales Associate Examination, be sure to study as you’ll need at least a 70%. For prospective realtors taking the Florida Real Estate Law Exam, you’ll need a score of 75% or higher. There are 40 questions on this exam, so you’ll need to successfully answer at least 30 of them.

Now that you know how to become a real estate agent in Florida, you can move on to activate your license.

Obtaining Your License

You’ll have to activate your license, which you can do one of two ways. You can complete the DBPR (RE 11) Become Active Sales Associate Form. You can also complete the Broker Sales Associate Form.

You’ll be issued a license and number. Your broker can then activate your license using their account. Make sure to complete a 45-hour course that’s FREC approved, as you’ll have to do this before your first license needs to be renewed.

Real Estate Agent Tips

Once you’ve secured your license, you’re ready to start selling. Build relationships within the community, network with other businesses, and follow these steps to becoming a real estate agent. This will help you build a name for yourself as you embark upon your new career.

For more information about starting your career and growing your business, be sure to check out the rest of our website. We’ve got tons of great information for all your business needs.

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Relationship Between Custom Rigid Box Packaging Design and Consumer Response

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Custom Rigid Box Packaging

According to the consumers’ shopping preferences and trends data, there is a strong relation
between custom rigid box packaging design elements and consumer’s response.

Design Elements of Custom Rigid Boxes

Shape:

The shape of the packaging boxes is associated with consumer response. The packaging experts at the Packaging Republic believe that the consumers get attracted to the product if the shape of the packaging boxes reflects innovation and creativity. For example, if you receive your product packed in a triangular or a pentagonal box, it will engrave a positive brand impression on your mind.

Also Check – How Can You Succeed in The Online Product Customization Business?

Therefore, the shape of the packaging boxes delivers brand value. The boxes’ shape and size also turn out to be functionally beneficial. These elements also offer experiential benefits such as symbolism. Moreover, products packed in unique shaped boxes are also easy to find in the shelf clutter. For example, chocolates packed in a triangular custom rigid box packaging can grab the consumers’ attention from afar. Functional benefits associated with the shape of custom rigid boxes deliver a positive response towards packaging.

Pictures:

Pictures and pictorial illustrations are perfect for urging consumers to make an instant purchase since this element attracts and impresses the consumer. Images on the boxes also communicate the brand value and act as a mode of brand communication. Pictures draw attention, communicate your brand meaning, affect sensory product information, and evoke an emotional response.

Logo:

As far as the brand’s logo is concerned, the logo’s position on the custom rigid boxes is positively associated with the liking of the product. Therefore, always ensure that you have chosen the most conspicuous place to print the company’s logo. For expert advice, you can always consult one of the best rigid box manufacturers in the USA.

Colors:

Colors are another element of the custom rigid boxes wholesale which trigger product’s likeness to attract the consumers. Colors also reflect the brand’s personality and act as a driver, creating a brand’s perception in the consumer’s minds. Colors on the custom rigid boxes wholesale serve a variety of purposes. Colors evoke moods, draw attention, emphasize, generate consumers’ emotional responses, and intensify your brand’s memorability. The colors can also be used as a cue, to either associate with or symbolize your brand theme or a certain holiday marketing campaign.

Typography:

Another element that must not be ignored. The elements associated with communication are of critical importance since they are used to communicate specific information about the product and its important attributes such as ingredients usage instructions etc. The graphics techniques used to display the words create a distinctive impression, resulting in delivering a meaningful message. Choosing the right font’s style and size is as important as deciding the boxes’ right shape, size, and style. Every information element on the package must be precisely targeted and presented in an easy-to-read manner to communicate the intended brand and product information.

Recommended – Special Messages and Personalized Gifts to Build Customer Loyalty

Brands wishing to create positive psychological or emotional connections with their consumers should concentrate on these packaging elements. All of these elements have different functional implications on consumers’ minds. Visual components are more effective and influential for the rigid boxes’ design, as consumers directly notice them. However, just identifying and knowing the elements are not enough. Always make sure that you find one of the most well-reputed and experienced rigid box manufacturers in the USA for your packaging.

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Analyzing the Role of Artificial Intelligence in Project Management: Pros & Cons

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role of Artificial Intelligence in Project Management

Understanding Artificial Intelligence (AI)

AI refers to a field of computer science dedicated to finding efficient solutions to problems that would otherwise merit human intervention and intelligence – for example, pattern recognition, data analytics, insight learning, and generalization.

To clarify the inherent distinction between Machine Learning and Artificial Intelligence, it is imperative to not to miss the woods for the trees. ML denotes a program’s ability to learn, while AI encompasses learning along with other functions. 

An insight into the role of AI in various spheres of life in general and in IT specifically

There is a lot of ambiguity surrounding the efficacy of the use of artificial intelligence in project management. Take a quick public survey regarding people’s views on stuff like “whether AI is ethical?”, or “how exactly AI may change the world we are accustomed to?” and you will come across answers as varied as chalk and cheese. This blog aims to familiarize readers with the pros & cons of AI based project management software.

When we consider the effect of introducing artificial intelligence in the realm of fields like online shopping, the implications have been truly revolutionary. If we were to consider IT project management specifically, traditionally the DevOps teams or app development companies are responsible for information analysis of various software development projects. 

With the advent of AI which helps conduct analytical calculations without human participation, the scenario seems on the verge of undergoing a sea-change. Let’s look into the opinion of several IT giants before we make our way towards an in-depth analysis of the merits and demerits of using AI in project management. Hop on the bandwagon for a nail-bitingly engaging read that follows peeps!

Mind speak of IT firms on whether AI is a boon or bane in the field of project management

1. According to Gartner, by 2020, AI is projected to generate 2.3 million jobs, reimbursing for the 1.8 million that it will replace, and generate $2.9 trillion in business value by 2021.

2. Google’s CEO, Sundar Pichai, is of the opinion that, “AI is one of the most important things humanity is working on. It is more profound than electricity or fire.”

With the aforementioned insights it is clear that the world landscape is experiencing a revolution of sorts, and it becomes all the more imperative for PMs to grasp the opportunity and brace themselves with the requisite tools to adapt to the fast changing AI based environment. 

Shedding light on the merits & demerits of AI in Project Management

MeritsDemerits
Accelerated Data ProcessingNascent Development Stage
Reduction in Project CostResults are unpredictable

Pros:

1. Accelerated Data Processing Capabilities

In today’s fast paced digital world with a perennial time crunch, data is as much a king as the consumer. Because if you can analyze your data well enough, more than half of the battle is won! 

Online retail therapy is something that we all are all guilty of indulging in from time to time. Have you been wondering about the ads that keep popping up while browsing which are akin to your last searched for item in any shopping app? Seems like a head scratcher? Well it really ain’t my friend! AI is pretty much your knight in shining armor with unprecedented data crunching capability. 

Time saved is money earned and DevOps teams the world over are warming up to the idea of using AI for crunching complex calculations and other mundane time-consuming tasks. Let’s hear it straight from the horse’s mouth, “Using AI for data analytics and machine learning could help project managers hone their project plans to be more efficient based on past performance. AI can also identify risks, indicators, and trends that could threaten the success of the project.” says Jayne Groll, CEO at DevOps Institute. He also throws in a word of caution by stating, “AI should in all circumstances serve as a ‘trusted advisor’ but not as the actual project manager.”

So to summarize, AI and ML help managers to:

a. Use past results to refine their project plans.

b. Highlight the risk factors that may threaten the successful implementation of projects.

2. Using AI-based apps can substantially reduce project costs

Ensuring that teams don’t go over budget is a nail-biting endeavor that keeps all project managers’ virtually on the edge. According to the findings of research conducted by Accenture, using AI can virtually halve the administrative tasks of any project manager, which currently stands at 54%.

AI can also expose hidden bottlenecks and visualize data that may escape human notice.

Cons:

1. Improperly trained AI may result in erroneous conclusions

project management in AI

Taking into consideration the above graphical analysis, Gartner is of the opinion that the top obstacle managers may face by adopting AI is facing erroneous outcomes due to insufficiently trained algorithms, data, or the team handling them.

Project management requires the expertise of scientific handling and balancing the nuances of intricate artwork. Thereby it is imperative that companies using AI invest sufficient time in cleaning and training the data.

2. AI tools used for PM are still in nascent development stages

Change ain’t all that easy to embrace and it remains a task for tech leaders to convince their superiors to invest in an AI-based PM tool. Also, the prototypes haven’t reached a fully-fledged readiness stage.

Therefore the ball lies in the court of the DevOps team to make the final choice between, either taking the path of AI testers for project management or wait for the time when the apps have reached the zenith of successful development and their work will be free of unforeseen errors.

Answering the multimillion question which is to go for it or chuck it? Well, it is imperative to understand that even the best-trained algorithms in AI solutions for project management do not guarantee seamless operations. Hence employees need to monitor the data AI consumes to eliminate result distortions.

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