When it comes to establishing a business, one of the first things which is considered by entrepreneurs is the business environment. But have you ever wondered what factors influence it? Well, let’s dig in.
If we take a closer look, a number of factors actually impact a business and its day-to-day operations. They can be broadly categorised as internal and external. While internal factors are relatively predictable and can be handled by the business itself, external factors are the matter of concern. This is solely because it comprises components that are beyond the control of the business.
However, what are these factors that aren’t in control of the business? Well, they can be further categorised into micro and macro environments. While the immediate external environment which influences the performance of the business makes up for the micro environment. Remote factors like political and economic form the core of the macro environment.
Customers, competitors, suppliers, partners, and intermediaries among other factors which make up for the micro environment has a direct impact on the daily business operations. While they are not directly under the control of the business, they can be analysed and worked on to devise an appropriate strategy. This can be finalised as per the goals and objectives of the business.
As for the macro environment, factors like political, social, technological, economical, environmental and legal can significantly impact a business. No business can prepare a plan for such factors, as they are unpredictable. Be it government policies related to tax, labour laws, trade restrictions or things like economic growth, business-specific laws, environmental policies, they have a big role to play. Given this fact, countries focus a lot on providing entrepreneurs and organisations an ideal environment to scale their business and thereby ensure economic growth for themselves.
Of late, one of the countries which has been able to achieve this and emerge as a popular business hub among entrepreneurs is the United Arab Emirates (UAE). The gulf state has seen an unprecedented increase with regard to business setup across different sectors in each of its Emirates with business setup in Dubai being the favourite of entrepreneurs worldwide.
In addition to the booming business environment, another factor which plays a significant role but goes unnoticed is the work done by business consulting firms. They act as the bridge between the entrepreneurs and their dream of setting up a business in a foreign market.
Role of Consulting Firms in Business Setup
Management consulting firms ensure that they guide the entrepreneurs about the prevalent rules and regulations. Having worked closely with government authorities, they can address the concerns of investors and business people in the best possible way. The consultants are well aware of the rules and regulations of the specific country or region and can ensure that they are navigated smoothly. With regard to business setup, they help with things like:
● Selection of appropriate jurisdiction among mainland, freezone and offshore.
● Choosing the right business structure based on the business activity
● Availing relevant business licenses and permits
● Renting office space to conduct business operations
One of the management consulting firms which has made a name for itself among entrepreneurs for business setup in the Middle East is Commitbiz LLC. Business setup in Dubai or in any other Emirate is made easy as they provide end-to-end business solutions. Their business setup consultants are aware of the involved legalities and ensure seamless business registration. This is done by providing entrepreneurs a range of business-related services in the domain of company incorporation, tax planning, entity management and others.
About Commitbiz LLC
With the vision of providing world-class management advisory services across diverse business sectors, Commitbiz LLC was established in 2007. Over the years, they have expanded their services to different places in the Middle East region. Whether it was about setting up its first branch office in Abu Dhabi, opening an international branch in Bahrain or the recent development of setting up Muscat business park in Oman, they have kept the interest of the entrepreneur at the forefront.
Following a client-centric approach, the team of 175+ business professionals has earned multiple awards during its journey. It is a testament to their dedication of simplifying business registration for entrepreneurs from around the world in the Middle East. Having helped over 10,000 clients across 150+ countries, the firm is now focused on growing further by staying true to its vision.
