If you have a business in the Dubai, you should think of hiring
chartered accountants in Dubai. Whether you have a small or medium
enterprise, your finances have to be managed by professionals. With
experts, your finances will be organized and you can plan your
expenditures in a better way. Qualified people know how to carry out the
calculations. If you are a small company, a consultancy service may be
sufficient, while big firms require daily accounting and regular reviews
for which auditors are needed. Budget evaluation and annual accounts
are prepared by them. An accountant plays an important role in tax
planning of a firm and assessing assets as well as liabilities. There
are excellent auditors in Dubai offering accounting services in Dubai.
Management consultancy and financial services are important areas of
work. Accounting in UAE and auditing such as joint ventures, corporate
restructuring and professional advice on formation of companies are some
of the other jobs done. Auditing jobs include internal review and
audit, risk assessment and regulation compliance. Budgeting, payroll,
cash application, cash disbursements, tax and operational audit and
accounts payable and receivable are all done by financial experts in
Dubai.

These services are offered by several specialized companies and they
offer an internationally tested methodology that is best suited to the
business locally. Quality service is possible only by keeping abreast
with advanced tools and technology. Together with this professional
integrity and ethical standards are necessary. Auditing is an essential
aspect of accounting and is performed to ensure the reliability and
validity of financial statements. Although, auditing concentrates on the
financial information of an entity, non-financial documents may also be
examined by the auditors. Internal audit involves evaluation and
assessment by the company’s professionals. But, when an independent team
of experts does the job for a business or government organization, it
is called external auditing. Small companies conduct only a financial
review of the balance sheets. This helps in providing accurate and fair
statements. Review of management practices are conducted by medium
enterprises to ensure quality outcomes.

Auditors and Chartered Accountants in Dubai

Auditors perform financial as well as risk management audits in
addition to independent statutory financial audits of commercial as well
as public sector organizations. Audits of local government as well as
central government departments are undertaken to assess or evaluate how
public money is being spent, with the aim of improving financial
efficiency as well as effectiveness.

Auditors in Dubai are
specialists who review or assess the accounts of companies and big
organizations to ensure the legality of all their financial records.
They in fact carry out a complete financial health check on their
client’s company. They can sometimes also act in an advisory role to
suggest potential risk aversion measures and to advice on how cost
savings could be made.

Key activities of audit services and accounting in UAE include:

AGX Auditors is one of the leading Auditing and Advisory firms based in
the capital of United Arab Emirates. The firm is promoted by qualified,
highly experienced as well as well known Audit and Finance Management
professionals. The firm houses a pool of Management and Legal
Consultants, Accountants, Auditors, Lawyers and other professionals.

This firm providing excels in offering wide array of professional
services in accounting as well as audit that include: statutory,
internal as well as management audit and a host of other financial
advisory or consultancy services. Their clients consist of local
entities as well as large multinational companies who are quality
conscious and who expect excellent service in addition to professional
approach.

The company’s mission statement is to offer the best
possible personalized service to small, medium and big enterprises at an
affordable cost. Their goal is also to encourage entrepreneurs and
businesses to improve their accounting practices in addition to
maintaining utmost standards of professional ethics.

The company
prides itself on its reputation for honesty, quality services and cost
effectiveness. The company’s highly professional approach coupled with
commitment enables them to deliver tailored solutions to the utmost
satisfaction of their clients.

Imports and Exports

Small-scale entrepreneurs might want to try opening a trading company in Dubai to target import and export duties for fun and profit. Current market shows that there is a big market in importing foreign products and exporting local goods to countries, like Japan, United States, and China.

For example, pearl imports have seen a growth to 30% for this year alone which is a good opportunity for entrepreneurs who have contacts in the pearl industry. Import of construction materials are also in great demand due to the continuous constructions projects currently planned out for Dubai’s improvement. Exports of local products are also a profitable venture as well, especially if you target popular local goods, like medicines and ceramic tiles. Import and export of food products also yields profitable figures as well.

Recreational and Entertainment Establishments

Many new Dubai small business opportunities are mainly centered on recreational and entertainment facilities believed to be scarce in the city. The increasing number of tourists in the city, as well as the demand from local society has made it a profitable investment in opening up nightclubs, recreational kiosks, even entertainment hubs to target the needs of native UAE and foreign tourists alike.

Real Estate Investment

Real estate investment in Dubai has taken a turn for the better. New construction projects on various residential facilities and luxury homes are underway to target the need of local and foreign visitors. Trying your hand out in real estate as one of the potential new Dubai small business opportunities gives you enough leverage with the investment — offering you a risk-free acquisition. You can buy a real estate property to cater to local needs, or investment in many real estate properties for monthly rental or resell later on when prices yields to your favor.

Health Care

There is a huge need of professional health care workers in the UAE, especially in Dubai. As the city grows, hospitals and private institutions are in need of skilled nurses and care givers to cater to the needs of the locals. Such is the case, opening up a recruitment agency in the city as one of the new Dubai small business opportunities might be your ticket to success and profit. Investors with contacts with interested workers in other countries will do well in this industry, especially those catering to Child Care since this is considered to be a trend in Dubai’s current recruitment trend.

Travel Agency

One of the most lucrative new Dubai small business opportunities is in the travel industry. Many in the known-world are seeing Dubai as a tourist attraction and having a travel agency to cater to this trend promises a lot of profit on your way. This type of business requires you to be affiliated or familiar with various accommodations in Dubai, as well as in the rest of the UAE; tour options, recreational and entertainment facilities and services to cater to vacationer’s needs.

Getting Started

If you’re thinking if opening up a small-scale business in Dubai then you might want to stay away from Free Trade Zones due to financial issues. Opening up a sole ownership enterprise in the city might be too much to handle so the only option left for the investment is to set up an enterprise with native UAE sponsor as your partner. This way, you get to earn the profits while they take care of handling and managing the operation of the business.

Keep in mind, however, that you need a sponsor who is knowledgeable in the type of business you want to put up in the city. You can only take advantage of new Dubai small business opportunities if your local sponsor can give you accurate market trends and figures to help you plan it out. If you’re new to this venture then it would be best to have a local business consultant firm lend you their expertise to help you set things up from scratch.