Looking to Start Business in the UAE: Here are a few Recession Proof Business Ideas
It is normal to worry about declining profitability during recessions if you have an entrepreneurial mindset and are trying to launch a firm. For the vast majority of UAE citizens, job security is difficult to come by during a recession. Fortunately, some recession-proof companies endure or even thrive in tough economic times.
In order to make it easier for you to choose which business idea is best for you, we have divided our favorite recession-proof business ideas in the UAE into five categories as mentioned below:
- Food Delivery
In the GCC regions and the Middle East, street food is an increasing trend, according to a 2015 Global Restaurant Investment Forum (GRIF) report. The Eat the World DXB festival gave the food truck industry a huge boost, and new food delivery businesses are appearing every day. To offer this service, one does not need to operate a restaurant or catering company. They pick up and deliver food from nearby restaurants. Additionally, they can collaborate with a business that specializes in mobile app creation to guarantee that your service reaches as many people as possible.
- Healthcare
The U.S.-U.A.E Business Council’s 2018 study predicts that the UAE’s healthcare sector would flourish and successfully address the issues that Vision 2021 is designed to address. It is anticipated that the market will reach 101.94 billion AED by the end of 2025. Pharmaceutical and healthcare businesses flourished during the coronavirus epidemic and still do now because people prioritize their health. And the medical and pharmaceutical industries in the UAE have been expanding significantly. For start-ups and existing companies to launch or grow their enterprises, it is an ideal location.
- Tutoring & Education
Nothing stops education from continuing. Not for an epidemic, and most definitely not for a downturn. Consequently, tutoring comes in third place on our list of recession-proof business concepts you may use in the UAE. From academic to vocational positions, there will always be a need for instructors in the United Arab Emirates. Given the amount of possible students, private tutors have a solid earning potential.
- Book-keeping, Accounting & Financial Services
The majority of people don’t want to handle their own taxes. Professional assistance can be useful in this situation. It’s typical for accountants to have an increase in business during a recession since they can help people and businesses take advantage of the tax benefits that are available to them while also providing them with visibility over their income and expenses in trying times.
As demonstrated, The UAE government has been developing new initiatives, stimulus packages, and lending programs throughout COVID-19 in an effort to control the problem. In these circumstances, having a tax accountant on hand is crucial for companies trying to weather a recession.
- Cleaning Services
A cleaning service that specializes in cleaning public spaces, such as banks, hotels, businesses, grocery stores, offices, and even hospitals, if you’re trained to do so, is particularly in demand right now.
This is because physical, public spaces need to be cleaned, especially during the COVID-19 crisis. You can undoubtedly try your hand at personal cleaning services if you lack the means to take on such huge cleaning assignments. Furthermore, the number of cleaning businesses in Dubai is thought to have expanded by up to 45% in the recent years, and the need is continually rising.
- Skilled Trade Contractors
The requirement for skilled trade’s contractors never stops because the customers always need carpenters, plumbers, electricians, and other professionals to manage their households. Therefore, starting an online platform or investing in mobile app development for skilled contractors is a full recession proof business option.
- eCommerce with low investment stock
eCommerce is an extensive industry; therefore, you cannot attribute recession resistance to the whole sector. However, specific eCommerce models stand a better chance. You can start a low-investment eCommerce business that can survive recession due to small scale and low average cost. Since customers don’t have to spend much on unsponsored and low-cost products, the products will remain in demand even in difficult times.
- Professional Online Communities & Resource Platforms
During the recession, people out of work need constant support to get back on their feet. You can avail this opportunity by starting a resource platform or an online community looking for jobs. You can earn money through advertisements, successful recruitments, or sponsorships. The benefit of creating online professional communities is the low, upfront cost.
This way, you can also help people with their side hustle, get them consultancy, and even provide professionals for skill development.
The recession-proof business ideas aforementioned are just a small sampling of the businesses that are entirely viable to start during a recession. So if any of these ideas resonate with you, then we at Xpert Advisory can help you start the UAE business. Right from business incorporation to office space, we cover it all.
Contact Xpert Advisory today
With Xpert Advisory, establishing a business in the United Arab Emirates is an easy, seamless process.
Call us at +971 50 395 9730 to get in touch. Or mail us at aus@xpertadvisory.com
