How to Find the Right Office for your Business
How to Find the Right Office for your Business
Whether you are going to open a sole proprietorship or limited liability company (llc) or any other company business, Picking out the right office space is detrimental to your business’s success. The wrong location could cost your business, top talent, and clients. Office location significantly impacts your ability and the possibility to grow. When choosing an office space it is fundamentally important to base your decision on the company’s future perspective and the business model. When choosing an office, follow the 5Ps to make a choice with ease.
Out of topic: Business Setup Consultants can help you set up your business in Dubai (DMCC Free Zone) , Ajman Free Zone , IFZA Free Zone , DAFZA , Fujairah Free Zone or RAKICC .
1. Product
Consider your business model. The best way to do so is by going through the activity blueprint. Does the office space have all the necessary requirements? If you have a restaurant business then you will need to have a back door to the kitchen, accessible parking, main floor, and entrance.
Go through the daily activity and motions, think of all requirements that your business needs and consider the fit. If you are missing electrical plugs or bright lighting these elements can be fixed but are they allowed to be fixed? You must consider the rules and regulations of the office space before committing to it.
2. Place
The location of an office should be your base for decision-making. Consider whether the location of the office is convenient for key talent to commute to. A long drive or an inconvenient location may push key talent to choose employment elsewhere.
Location is also important for your potential clients and partners. If the transportation is long or costly the clients and partners may opt from travelling to your business place. It’s important to consider the cost-benefit analysis of price versus location.
Some large and small business owners choose to locate their business in the outskirts of Dubai or in the construction zones which makes it difficult to commute to and find for both customers and clients.
3. Parking
Parking is one of the main issues in the UAE, especially in Dubai. For your business to run smoothly and for your clients and partners to have a pleasant experience it is important to consider the parking availability at the proposed location.
Many tend to ignore or forget this key point; as a result, they tend to suffer loss. If parking is tight, is there a parking lot close by that can host employees and customers?
4. Future Prospective
Analyze the office space and consider if it offers you the ability for expansion. When entering a lease you bind your business to that space. Businesses evolve and factors may change the space requirements.
5. Price
Consider the daily expenses of your business and your ability to take the hit to profits for a new business office space. The expenses include office furniture, utilities, and equipment. Can you pull the new office space? After careful consideration you may find yourself under a tight budget, in that case, you have a couple of options to consider.
- Subletting: This is where you rent out part of the office space from another company. This option is cheap and requires minimum investment. The downside to this option is lack of control of the environment and in case of business growth, you will need to find another office.
- Co-op: This is where two or more businesses rent out a large office space and share common facilities such as the pantry and reception area. Renting a large office with extended facilities can be of benefit. If you do not use the lunch room, you can turn it into another open office space for employees. Renting out an office with complementary businesses will also benefit you. Consider partnering with an advertising firm or IT firm in order to increase business efficiency and get the most out of the situation.
The office space is the face of your business. It must reflect and fit your business model in order to bring business success. Consider the 5P in a matrix format in order to make an optimal choice.
Best Place for Business Set up in the UAE
The United Arab Emirates (UAE) has established itself as a premier destination for international business ventures. With its strategic location, world-class infrastructure, and progressive government policies, the UAE offers a dynamic and supportive business environment for entrepreneurs and established companies alike. However, the best place for business location within the UAE for your business setup depends on several factors. Let’s explore the top contenders:
Dubai: The Global Business Hub
Dubai has solidified its position as a prominent global business hub, attracting entrepreneurs and corporations from around the world. With its well-established reputation as a commercial center, Dubai offers a diverse range of free zones catering to various industries, including finance, technology, media, and logistics. The city boasts world-class infrastructure, a robust transportation network, and seamless connectivity to global markets.
However, it is essential to note that operating a business in Dubai can be relatively costly, with high rental rates and an elevated cost of living. Nonetheless, the city’s strategic location, business-friendly policies, and thriving economic development continue to draw investors seeking growth opportunities in the region.
Abu Dhabi: The Opportunity Capital
Abu Dhabi, the capital of the United Arab Emirates, presents itself as an opportunity capital for businesses seeking to tap into a growing and wealthy market. With the backing of the government’s diversification efforts and initiatives, Abu Dhabi offers a streamlined business setup process and a focus on fostering innovation and technology sectors.
The emirate has made significant strides in attracting foreign direct investment and nurturing a supportive ecosystem for startups and established companies alike. However, it is worth noting that the introduction of corporate taxes in the future could potentially impact business operations and profitability.
Other Places to Consider (depending on your business)
Sharjah: Known as the cultural and industrial center of the UAE, Sharjah offers an affordable option for businesses seeking lower operating costs. With its well-developed infrastructure and strategic location, Sharjah is an attractive destination for industries such as manufacturing, logistics, and education.
Ras Al Khaimah: Rapidly developing and focused on diversifying its economy, Ras Al Khaimah presents opportunities in the tourism and manufacturing sectors. The emirate boasts a business-friendly environment, affordable real estate, and a growing infrastructure to support various industries.
Ajman: Offering affordable free zones and a strategic location, Ajman is an ideal choice for businesses operating in specific industries, such as construction, manufacturing, and logistics. The emirate’s competitive business costs and proximity to other major business hubs make it an attractive option for cost-conscious entrepreneurs.
Setting Up Your Small Business Office in Ajman
Nestled along the Arabian Gulf coast, Ajman often gets overshadowed by its flashy neighbors, Dubai and Abu Dhabi. Selecting the right location is crucial when turning your business idea into a successful venture. However, if you are a small business owner and looking for a budget-conscious area for your business, Ajman presents a compelling proposition. Here’s why:
- Affordability: Ajman boasts some of the most competitive rental rates for office space in the UAE. This low cost option is a significant advantage for a startup or business with limited resources.
- Streamlined Business Setup: Ajman’s free zone authorities are known for their efficient and cost-effective business setup processes. This allows entrepreneurs to get operational quickly and minimize bureaucratic hurdles.
- Strategic Location: Ajman enjoys a strategic location bordering Sharjah and Dubai, providing easy access to major transportation hubs and a wider talent pool.
- Focus on Specific Industries: Ajman Free Zone Authority (AFZA) offers several free zones catering to specific industries, such as the Ajman Media City Free Zone and the Ajman Free Zone for Light Industries. This targeted approach provides valuable support and infrastructure for businesses in these sectors.
- Government Support: The Ajman government actively encourages entrepreneurship and offers various initiatives to support small businesses, including business incubators and training programs.
