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How an Accounting and Consulting Firm in UAE can Help with Setting up a Small Business

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Setting up company in the UAE can feel like a daunting and massive task but it is nevertheless a rewarding experience. The feeling of autonomy feels reassuring and being a job-creator has its own perks and benefits. UAE offers multilingual and highly advanced personnel along with a stable regulatory environment and a progressive culture of innovation, which makes incorporating a business in UAE a lucrative opportunity for business persons.

Moreover, the UAE Free Zones offer huge benefits to companies and are also a great lure for people who wish to start their own company.

Benefits an Accounting & Consulting Firm in UAE Offers

An accounting and consulting firm in UAE can help with the incorporation of companies and assist in the selection of the right place (Mainland / Free Zone / Offshore), company structure (Sole Establishment / Partnership / Limited Liability) and identifying the pros and cons of different options.

Moreover, the financial management of a business can be the most challenging part of any business. This requires the assistance of an accounting and consulting firm which can guide the company throughout the accounting process. Accounting requires a lot of activity to take care of, such as payroll, auditing, accounting, tax planning, etc.

Operating activities involves the daily activities of buying, selling and production of goods. It is the heart of business performance and is the prime reason behind success or failure of a business. Accounting and consulting firm experts review all the business operations, identify inefficiencies and guide the client on how to improve business performance. They provide a proper strategy which will include all aspects of the business like location, type of facilities, workers skills and talents, technical equipment’s required, any special equipment or technology and quality control methods.

Most accounting and consulting firms in UAE also provide services like quality control and inventory management, formulation of Standards of Procedures (SPOs), as well as business benchmarking services.

Additionally, major financial decisions taken for future business growth depend on the plan and strategy a business opts for. A fair amount of risk is involved while even when setting up a small business which is why a lot of focus goes onto plotting a road map of tactics and strategies to follow to achieve your business goals. Having a professional accounting and consulting firm in UAE that can give an elaborate forecast of financial performance, perform a competitiveness analysis of the industry, assist in business modelling, feasibility studies and capital budgeting can considerably reduce risks.

Most accounting and consulting firms in UAE are affiliated with major Free Zones as authorized agents and it can offer a new company lot of advantages to be associated with them. Moreover, the experts and advisors in the team have a lot of experience raging from different industries and their insight will be very helpful. Furthermore, it is economical to have an advisory framework in mind when investing their time and money in setting up a business.

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