Ayub Ahmed Sait runs a Dubai-based company called Capital International Group of Enterprises LLC, a group of companies diversified into startup advisory and offering premium business solutions with more than 83 luxurious offices (serviced offices, co-working spaces and hot desks). Offering everything from accounting and tax advisory to assistance for corporate bank account opening, marketing solutions, information technology services, corporate government liaison, immigration and visa services, legal solutions, general trading, real estate, investments, second passport, foreign migration services, and offering localisation services for international companies looking to enter the UAE market.
CIG’s rapid growth underscores that there are still opportunities for international companies in the UAE despite the current uncertainties plaguing the global economy. Founded by Ahmed after conducting in-depth market research in 2007 while using minimum resources, the privately held firm is currently among the UAE`s top business setup brands with a 20,000+ client base.
A recession is a great time to start a new business
That may seem counterintuitive but downturns and market crashes provide entrepreneurs with an opportunity to start a new business. The ongoing slowdown of economy, also called the Great Lockdown, is likely to bring about major changes in how and where we do business: home versus office; electronically versus face-to-face. It will open new perspectives for technologies that can promote the various new ideas and modules of businesses in the coming era.
Take inspiration from major innovators
Did you know Apple was launched during a recession? Steve Jobs initially made computers in garages and sold goods from a Volkswagen van, but he achieved enormous success, partly because of his decision to make his company debut in one the great slowdown of the economy in that time. In fact, Disney, Fortune magazine and Microsoft were all founded during the recession. How did those mega-businesses survive, even though the economy was at its worst?
Although these companies are known for their hard-working, ambitious entrepreneurs, they had something else going for them as well – they dared to launch during a recession. Since their competitors feared failure and didn’t want to enter the market during a tumultuous period, companies like Apple did so anyway. Businesses that enter the market during a recession are in fact more productive than those that enter in good times.