In a first for any company in Dubai, a business setup consultancy capped a Dh5million turnover in a single month while handing out over 200 new freezone licenses in July in a reflection of UAE’s strong business sentiment and a record growth in the post-Covid era.
“These are incredible times for us and the country. No company in Dubai has achieved such numbers in just one month. And it is indicative of the huge confidence investors have right now in the country and in Dubai particularly,” said Robin Philip, the founder, director of A&A Associate. The Dubai consultancy was awarded the title of ‘Highest Performing Channel Partner for the year for 2021’ by Sharjah Media Free Zone earlier this year for helping set up over 2,500 companies across the UAE in 2021.
“If our strength lies in our excellence in diversified auxiliary services like litigation and auditing that make us a one-stop solution provider for every new business owner, then our other big advantage has been the current economic climate in the country,” explained Philip whose team helped set up over 70 new e-commerce companies this month. “That’s almost 36 per cent of the pie this month. Another quarter of new investors this month opened trading establishments while around 14 per cent started new consultancies in Dubai,” said Philip while explaining how trends in July saw a “further 10 per cent deep dived into travel and tourism business, six per cent in logistics and about nine per cent open businesses in the crypto space.”
A&A’s recent figures come in the wake of last week’s announcement that Dubai issued 45,653 new business licences in the first half (H1) of 2022, a growth of 25 per cent compared to H1 last year when 36,647 licenses were issued. The latest figures were released by the Business Registration and Licensing (BRL) sector at the Department of Economy and Tourism (DET) in Dubai.
“These numbers only reaffirm once again the tremendous success of the government's innovative new strategic measures they have executed through a raft of changes in their policies. These policy amendments have not only rejuvenated a post-pandemic economy but also spurred a massive uptick in local and foreign investment which, in turn, has helped Dubai and the rest of the country to accelerate the pace of sustainable economic growth and diversification,” said Philip, who has so far helped start over 10,000 businesses since founding A&A Associate’s business setup division three years ago.