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Category: Business Strategy

Ways to make your business thrive in tough Economic Times

When you’re wondering how to overcome such tough situations which have impacted the worldwide economic status, in such scenarios many businesses suffer economically but do not let the situation discourage you, with the right mind map and plan in such cases small to medium to big businesses can still achieve their place in the market. 

It’s better to be prepared for a possible recession when you do, you not only survive the next financial crisis but will also thrive. 

What can businesses do to thrive during tough economic times?

    1. Watch the red flags: Whether there is recession or not, always be attentive to your financial numbers. You could also plan on cutting nonessential company subscriptions and take up virtual meetings to reduce travel expenses.
    2. Build your own recessional survival-kit: You could begin this with diversifying revenue, strengthening current relationships with your customers, creating pipelines and speeding up cash flow. 
    3. Take this time to develop and implement strategies: If you’re business in going to prosper you need to build strong client relationships which means drawing customers from competitors. You could offer something different and more and entice their customers into your customers. 
    4. Make the most of current customers: The customers already in your list are an opportunity to make more sales without incurring new set of customers. Maybe this customer could be your loyal customer giving you many more sales opportunities.
    5. Don’t stop marketing your brand: Many businesses cut their marketing budgets or eliminate them entirely during such situations it extremely messages out the world about your products on social media, this is the time where businesses need the most marketing. Clients are also looking for changing patterns in their buying decisions you need to help them choose from your products and services. 

 

  • Ensuring your business offers as many services as possible at this time: You use this time by focusing on area of work by improving it, customizing products, giving complimentary services or working flexible hours for operations.

During such situations it is extremely important your employees to help you in tough economic times even during economic down times your customers will continue to engage with your employees as they are a key to recession proof business. 

There’s absolutely nothing that cannot make businesses recession proof, this applies to small start ups too but implementing these small practices can help your business survive through tough times and might make profit through them. 

 

Offshore Company Formation With Smart Zones UAE

UAE Offshore Company Formation provides liberty and solutions to investors in the most efficient way to run their business internationally. It is a company formed where its principles that is the Director / Shareholder’s or Partner’s reside. The purpose of this type of company formation is to operate outside the jurisdiction where it was originally formed.

One of the key benefits to forming an Offshore Company is that the expatriates enjoy full ownership of their business and the profits made goes to the owner of the company directly. One of the reasons why an expatriate want to invest in an Offshore formation is that the advantages of law can be fully utilized which is not available in ones own country.

With assistance from Smart Zones UAE, we help you create a strategic plan for your firm and make sure that nothing is overlooked right from the financial structure to the legal formation of your enterprise.

Facts of setting up an offshore company:

UAE Company Incorporation provides numerous number of benefits to expatriates wanting to open an offshore firm, along with attractive tax structure design other factors that influence this kind of setup is as below:

  • Corporate shareholders from the UAE and abroad are permitted
  • There is no restriction of share capital and the currency
  • There is no need to deposit share capital in the bank
  • Extensive outsourcing opportunities
  • Complete privacy and confidentiality of business
  • Opening a corporate bank account in Dubai and anywhere in UAE is possible
  • The company director does not have to be a UAE resident
  • Offshore companies are generally tax exempted from the country in which they were formed and have 100% ownership.
  • Having assets into offshore and overseas it can provide a strong level of protection from liabilities in the future and the finances and other assets are usually screened from the public view.
  • Low capital requirements, Offshore Company formed provides flexibility in terms of   capital structure and minimum capital is required.

With a wide scope of jurisdictions providing Offshore Company Registration, choosing the right jurisdiction requires a lot of important considerations. Our team of experts can provide the best supervision and the right professional advice, from assisting you to incorporate a company to submitting all the necessary documents for proper registration, we do it all.

Connect with our Business Incubators to know more:

+971 527797111/ +971 529604444/ +971 557736579

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