Simple way to start your own business in Dubai Everyone is on the lookout for ways to boost their income, whether by finding a new job with attractive benefits, making a major career change or even taking on part-time work.
. But few think about starting their own business. Of course the difficulties associated with setting up a small enterprise put many people off – a high percentage of such ventures close within the first year.
Those who are prepared to make the leap and start their own business must confront many challenges and risks and are exposed to numerous factors that are difficult to deal with, such as competition and the need to gain market share.
In addition there are other issues such as cost variations, rent increases, fluctuations in the cost of raw materials and services and a host of others.
We all know entrepreneurs must either invest capital to start a business or take out a loan and mortgage the venture's assets to a bank to guarantee repayment of the loan.
In view of all this you may well be wondering why you should even consider starting a new business.
"I don't want to take risks," you might think. "I seek safety and security in the work environment and think a regular salary and income is better. I have a family and many expenses such as food and rent and I cannot sacrifice my salary in exchange for insecurity."
However, I am not suggesting you give up the benefits of your salary – only that you use a proportion of it to finance a small enterprise.
I will show you a way for small businesses to avoid the risks and difficulties I have mentioned. Everyone can benefit from their salary, no matter how small it is, by cutting the amount they spend and using the savings to establish their own business or venture in addition to having a regular job.
That way the salary and income is secured to meet family requirements such as food, shelter and school fees.
The prescription for financial success through starting a small venture is based on saving 15 per cent of the monthly salary and investing it in the business.
For example, if you have a salary of Dh7,000 in Dubai you can save Dh35 a day, Dh1,050 a month or Dh12,600 a year to invest in your project. If you make an eight per cent profit on the proceeds for 35 years you will earn Dh2.4 million.
If you have a salary of Dh15,000 in Dubai you save Dh75 a day, Dh2,250 a month or Dh27,000 a year to be invested at eight per cent for 35 years. You will earn Dh5.2 million – and all this is based on a profit rate from your venture of just eight per cent.
Today you have to be smart when it comes to money, and simply spending all your salary instead of investing some of it in your own business and your family's future is just a waste.
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Finance/Saving Tips 
