Top 8 outsourcing business ideas in 2022
Being one of the leading business hubs in the world UAE provides massive opportunities to new business start-ups. By promoting business activities, the authorities always ensure stable economic development. This article contains 8 such marvelous business ideas which you can outsource and can achieve efficient services and outcomes. Outsourcing is considered as one of the most efficient ways of hiring professionalized experts to perform the traditional service which was allotted to the in-house employees. Outsourcing such activities will enable a firm to reduce its cost and acquire more effective services.
Starting a new firm in Dubai requires lots of experience, research work, and resources along with sufficient funds. Getting all these elements together for a firm for the first time may be troublesome, so most of the firms opt to outsource their core services such as payroll services, accounting services, training and manufacturing activities, etc. to other professional companies so that they can get professional assistance.
Read more: Why is fixed asset important for a business in UAE?
What are the top outsourcing business ideas?
1. Technology consultation and implementation
The pandemic situation has increased the demand for technology consultation and implementation services such as machine learning, video surveillance system, etc. which is a perfect business opportunity. As the work-from-home is still on the scene the technical experts can provide consultation services regarding different software which enables the employees to work from home and they can also facilitate the installation and development of various technologies that may ease the activities of individuals.
2. Legal service firms
Most firms may not have adequate knowledge about the laws and regulations of the land in which they set up their business. Being aware of all the rules and regulations of the land is one of the greatest concerns to avoid and protect the firm from any legal proceeds and huge penalties which may tarnish its image. The legal service firms that may provide legal consultations, support, analysis, and documentation have a positive scope in the business market as most of the firms in Dubai outsource their legal services to avoid legal complications.
3. Tax preparation and filing services
Most of the firms consider the process of tax filing and preparation as a time-consuming and complex process. These firms, lookout for tax consultants to acquire professionalized services who can perform the activity with maximum accuracy and standards. By transferring their burden to the tax consultant firms they can get enough time to focus on other core activities of the business. So, a Tax consultant company also has a good future in the coming times due to the introduction of corporate tax on business profits that may be introduced from 1st June 2023 as being one of the reasons.
4. Payroll processing firms
Most of the firms in Dubai find it difficult and time-consuming to manage their in-house payroll system. It is a complex procedure as it involves the maintenance of workers' and employees' databases and recording their tax returns, bonus advances, employee vacation, etc. So, most of the firms may approach a payroll processing firm to outsource their services, hence it is a prospective opportunity for the start-ups.
5. Research and development companies
Every company tries to conduct thorough research about the market, its demography, target audience, their behaviors, attitude, etc. before setting up a firm. Most firms in Dubai try to outsource their research and developmental activities as it needs the assistance of experts. Setting up a research and development firm will be more useful to other firms as well it will be a more income-generating business in Dubai.
6. Sales training
Every firm's cash flow and income strongly depend on the sales made by it. A firm that is capable to meet its sales target on time can face any unanticipated circumstances as well as it can survive any downturn. To enhance sales most firms, focus on giving sales training to their employees so that they can effectively influence the customers and convince them to purchase the product or service. The firms which provide such kinds of training programs to other firms and businesses have a great scope ahead as most firms try to outsource their training activities due to a lack of expertise and resources.
7. Accounting and bookkeeping services
Accounting firms play a major role in the business industry in Dubai. The major part of the business firms in Dubai outsources their accounting and other financial services to other firms as it is very cost-efficient and the firms have professionalized team which performs the service with maximum accuracy. The need for certified accounting firms is increasing hence, setting up an accounting and bookkeeping firm will be a nice move as per the present scenario.
8. Business consultants
If you have carried on a business for a long time and you have better experiences then you must try to set up a consultancy service firm to assist the new SMEs and firms who struggle to overcome the harsh situation while performing the business. As Dubai is the business hub for many entrepreneurs providing consultancy services to the newcomers will be a good opportunity which will strive in the future. The new businesses can also outsource and they can approach the consulting firms to acquire strategic advice.
Read more: What is the role of accounting in business planning and decision-making?
Role of CDA
CDA among the leading accounting and auditing companies in Dubai provides a bunch of custom-tailored services to its clients such as accounting services, tax consultation, bookkeeping services, etc. in the most effective manner so that the clients can achieve what they expect with minimal errors. The clients can acquire all the required services under one roof rendered by the professional team of CDA. To know more about CDA feel free to contact us.
Read more: How to Budget and Forecast for Your Small Business Effectively?
