Latest Virtuzone Survey Reveals the Dark Horse Pushing Dubai’s Economy Forward

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In a survey recently conducted by Virtuzone, one of the fastest growing business set-up operators in the UAE, it was revealed that small businesses capitalising on the dynamic workings of the Internet are playing a crucial role in propelling Dubai’s economy forward. Statistics show an unexpectedly high percentage of positive results which are expected to rise in the next year.

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Small businesses are a major driver in the region's economic development. It's beneficial to hear directly from these businesses about their challenges and opportunities, so we can better assist them and help them grow.

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Dubai has always been an economic powerhouse, but it’s not impervious to the effects of the global economic instability. However, it was revealed in a survey conducted by one of the country’s prime business set-up operators, Virtuzone, that small businesses are enjoying substantial success despite the uncertain economic climate, and are, in fact, main contributors to the positive trajectory for Dubai’s economy. This survey shows that 59% of those who polled consider the performance of their business better than expected; 60% are already making a profit; and 49% are confident their companies’ revenue will improve in the next 12 to 18 months.

With the help of the information superhighway, small businesses and new entrepreneurs are thriving well in one of the most important cities in the world. Setting up a business online is so much easier, as well as the implementation of supporting efforts geared towards expanding the reach of the business. The survey also harnessed all the data pertinent to the usual concerns that small businesses have, especially in a highly competitive arena as the business scene of Dubai. Participants of the poll also shared the views regarding the services available to them that can help their businesses develop and achieve longevity.

In a recent interview, Virtuzone Chairman Neil Petch shared his observation and sentiments regarding this survey outcome. He said, “Despite global lacklustre conditions that are affecting people's stance toward the economic recovery, we have seen firsthand that the entrepreneurial spirit and determination to succeed remains alive and well in the UAE. As a long-time entrepreneur, this validates my belief that there is a significant, vibrant community of start-ups and small businesses here that have the potential to boost the economy.”

Start-up and marketing support were revealed to be important contributors to this positive result. Many poll-takers who hired the services of business set-up operators claim that they were better prepared for the usual and unique demands of being a greenhorn in the business arena. It was for this reason that Virtuzone formulated an effective system service to aid new and small businesses that wanted to increase their success rate despite the often discouraging challenges of being new and lacking experience (as a company) in their respective industries.

Neil Petch adds, "At Creative City Fujairah Free Zone and Virtuzone, we are proud to play a part in developing the media landscape and the economy, and enable many exceptional individuals to thrive in the UAE's unique business environment that rewards entrepreneurship and innovation.”

In conclusion, Jessica Brett, Group Sales Director of Virtuzone supports Neil Petch’s statement by saying, “Small businesses are a major driver in the region's economic development. It's beneficial to hear directly from these businesses about their challenges and opportunities, so we can better assist them and help them grow. Entrepreneurship helps people fulfil their dreams and turn a creative idea or passion into a successful business. Our team is here to provide a swift and flexible company set-up process to our customers from start to finish, along with a suite of professional advice they need to achieve success.”

With these survey results, there’s surely no scoffing at the collective contribution of small businesses have to the country’s economy. And with the help provided for those with entrepreneurial individuals looking into starting their own businesses in Dubai, it may be expected to see a boom in new small businesses in the coming years.

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Natasha Hatherall/Julia Purcaru
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