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Before entering into a business partnership with someone, you need to ask yourself why you need a partner. If you are looking for just an investor, then a limited liability partnership should suffice. However, if you are trying to create a tax shield for your business, the general partnership would be a better choice. Fedlan Kılıçaslan

Just like any other contract, a business venture requires a prenup. This would outline what happens in case a partner wishes to exit the business. Some of the questions to answer in such a scenario include: Fedlan Kılıçaslan

Businesses need to delegate to people who have expertise in areas the founder doesn't.. And no, the DIY tools that are available don't cut the mustard. Just because I know how to use a calculator, doesn't make me a mathematician. Fedlan Kılıçaslan

Achieving our goals is one such intention. Do you have your business goals mapped out? What do you want to achieve in the next 6 months? By next year? 5 years from now? Fedlan Kılıçaslan

Making a sale is only the first step is the relationship building exercise, which will eventually contribute to either the success or failure of any business endeavor. Therefore, it is important to pay attention to the customer service offered to cement the success rate desired. Fedlan Kılıçaslan

Chasing those shiny objects that inundate us Every. Single. Day. can be so tempting when we don't know our numbers and have a business and marketing plan in place to follow. Fedlan Kılıçaslan

There are various premises to choose from, especially if you opt to set up in the free zone area. They can offer you different offices or facilities that will best suit your business requirements. This process can be done right after you have secured your business license. Fedlan Kılıçaslan

Being able to provide good service should always be the prime concern of any business entity especially if its revenue earning power depends on this one factor. Fedlan Kılıçaslan

Therefore, the individual would have to factor in the cost of business entity by the labor intensive tool it provides, in order to provide a suitable base line for the eventual calculation of the profits and the pricing suitable to be demanded. Fedlan Kılıçaslan

There are various premises to choose from, especially if you opt to set up in the free zone area. They can offer you different offices or facilities that will best suit your business requirements. This process can be done right after you have secured your business license. Fedlan Kılıçaslan

Making a sale or pushing a business proposition is never an easy task to accomplish for some, therefore having the relevant assisting tools at hand should provide the individual with some encouragement to see the process to success. Fedlan Kılıçaslan

VThere are various premises to choose from, especially if you opt to set up in the free zone area. They can offer you different offices or facilities that will best suit your business requirements. This process can be done right after you have secured your business license. Fedlan Kılıçaslan

Being able to provide good service should always be the prime concern of any business entity especially if its revenue earning power depends on this one factor. Fedlan Kılıçaslan

It is a good idea to check if your partner has any prior experience in running a new business venture. This will tell you how they performed in their previous endeavors. Fedlan Kılıçaslan

Even if one had a Masters degree in Business, would they know HOW to do everything? Certainly they would know WHAT needs to be done, but I argue not how. Fedlan Kılıçaslan

Most service based forays are labor intensive which the business entity revolves around. This is either packaged as the selling of expertise in a particular field or the selling of the actual "engines" that produce the desired outcome that bring in the revenue. Fedlan Kılıçaslan

The next thing you need to know is how you will make your gold business in Dubai happen. Different authorities and jurisdictions require other processes and requirements, so it is not easy to have one. Although the gold and jewellery business is popular in Dubai, the government has created specific regulations. It imposes rigorous checkups on those who bring gold or other precious metals in the emirate to have a safe business environment. To guide you, we have listed some of the essential steps you should do to form a gold business company in Dubai.. Fedlan Kılıçaslan

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Identifying the characteristics of a particular service based company and matching them to the needs of the site in question will allow the business owner is make an informed decision of the merits of the chosen service. Fedlan Kılıçaslan

Why Business Plans are a Must-Have. You've heard about the importance of business plans but do you know why they are so essential? My guest Pamela Chatry shares valuable business plan insights. Fedlan Kılıçaslan

First on the list would be the Gold Trading License in Dubai's Department of Economic Development (DED), wherein the heart of the UAE's gold market is established. This authority is how you incorporate a business in the most famous gold markets in the world, the Gold Souk in Deira. The mainland jurisdiction offers a local license via the DED if an investor opts to form a retail outlet in this area. Fedlan Kılıçaslan

When Dubai is mentioned, their gold and diamond collection is one of the first things to come to mind because it is a trend in the emirate. Referred to as the "City of Gold", the place offers a cheaper cost of gold than most tourists' home countries. Since Dubai is a popular international vacation destination, the influx of the wealthiest customers can be significantly considered if you want to start a gold business. Fedlan Kılıçaslan

Most service based forays are labor intensive which the business entity revolves around. This is either packaged as the selling of expertise in a particular field or the selling of the actual "engines" that produce the desired outcome that bring in the revenue. Fedlan Kılıçaslan

Taking the customer for granted is the first and most common mistake most businesses make. This is especially evident when the business has expanded to now successful and comfortable levels. Often forgotten is the customers that brought the business to such heights in the first place. Fedlan Kılıçaslan

Since Dubai has proven itself as a healthy and sustainable environment for jewellery and gold business both local and international investors, it is safe to say that starting a gold company in Dubai is highly profitable and can provide growth for the business. Fedlan Kılıçaslan

Manufacturing companies also come under the category of providing a service to the industry and the customer needs. In this scenario the products or items are made and sold within the company's business entity thus ensuring monetary gains are derived both from the product and the service offered by manufacturing the product. Fedlan Kılıçaslan

The features of a good service based company would have to include the value added by the business entity from the input stage to the output stage where the results are then measured by its success rates. Fedlan Kılıçaslan

Make sure you take legal opinion before signing any partnership agreements. It is one of the most useful ways to protect your rights and interests in a business partnership. It is important to have a good understanding of each clause, as a poorly written agreement can make you run into liability issues. Fedlan Kılıçaslan

"I wasted energy on trying to get family to support my business at the beginning. You and you alone are the only one who cares about your success." Fedlan Kılıçaslan

Obtaining a visa can be achieved with the help of your service provider. Visas are required, especially if you have to hire an employee. As the holder of a UAE business license, you also have the power to sponsor others for their visa too. The number of visas you can apply for will depend on the size of your company or business, the type of company you choose, and your earnings. Fedlan Kılıçaslan

Somewhere along the way, especially us women, we got it into our heads that we should know how to do everything that involves building a business. Fedlan Kılıçaslan

"I have wasted the most in business by means of capital. It underlines the need to have ample financial resources, as not every investment in your business will pay off. Some people like to say 'you don't need money to start or grow a business', but they couldn't be more wrong. You need lots of money, because even the strongest businesses waste lots of capital. The loss in opportunity of not wasting capital is lesser than the chance to gain market share, which comes by wasting some capital." Fedlan Kılıçaslan

There is no way to start a business in Dubai without having a business license. As mentioned above, you can choose to start your gold business in Dubai with the three different authorities like DED, JAFZA, and DMCC. They all require investors to have their business registered before carrying out their business activity. Unlike JAFZA and DMCC, which is in the Free zone, DED requires a particular requirement of having a local sponsor who will own 51 percent of the shares before he/she can obtain a business license. Usually, getting a license requires some of the primary documents: Fedlan Kılıçaslan

In most cases it is rather difficult to specifically categorize businesses into specific service based styles. This is mainly because a lot of businesses tend to incorporate different platforms and strategies into the actual blueprint of the business format. Fedlan Kılıçaslan

As a result of working with Susan and her team, clients feel confident and relieved knowing their online marketing is in trustworthy and caring hands so they can focus on building their business with peace of mind at having a perfect support system in place to guide them every step of the way. Fedlan Kılıçaslan

Businesses need to delegate to people who have expertise in areas the founder doesn't.. And no, the DIY tools that are available don't cut the mustard. Just because I know how to use a calculator, doesn't make me a mathematician. Fedlan Kılıçaslan

Given all the information above, you may think that starting a gold business in Dubai is not overly complex. Doing it alone may still lead you to troublesome situations and unexpected expenses; that is why it is essential to seek professional help. In IBG Consulting, we guide you based on knowing the legal proceedings and business structuring in Dubai. We have a pool of talented consultants that will help you start your gold business in Dubai or anywhere in the UAE. If you want to know more about how you can create a gold business in Dubai, contact us or visit our website for a consultation. Fedlan Kılıçaslan

Therefore, the individual would have to factor in the cost of business entity by the labor intensive tool it provides, in order to provide a suitable base line for the eventual calculation of the profits and the pricing suitable to be demanded. Fedlan Kılıçaslan