According to the latest figures from the UAE licensing office, commercial license issuing increased by 45 percent in 2020. As social distance and the coming corona virus (Covid 19) pandemic has accelerated the speed of expansion in Internet searches by around 4-6 years, we are presently experiencing a massive boom in online commerce, coinciding with the rapid shift in the public arena.
During the onset of the pandemic, owners of firms in the United Arab Emirates and throughout the world had to restructure the characteristics of their work structures and explore new chances to prosper. While this may be the new economic model for the time being, it is unclear when things will return to normal. However, in light of these challenging circumstances, this does not indicate that new enterprises and businesses should not be established; rather, many small and medium-sized businesses are prospering within these developing normal conditions.
A strong business strategy should, in theory and for you to succeed, include three things:
It must be something you enjoy doing, something you are capable of doing, and something that is desired (meaning people pay to get it).
Future organizations must be quick and adaptable, relying heavily on digital and virtual technology to minimize any potential interruptions.
1. Online tutoring
Schools and universities are among the organizations mostly affected by the coronavirus (Covid 19) pandemic, owing to the cancellation of exams and postponement of lessons that require physical attendance, and in some cases, the matter has reached the point of indefinite cancellation and postponement. Many nations, like the United Arab Emirates, have made remote education obligatory. As a result, students rely on online education and virtual lecture rooms to finish their education. According to a recent survey, as kids become more aware of virtual learning, pupils who have the potential to augment their official education through private tutoring and online education will have more opportunities.
2. App Development
One of the numerous activities that has witnessed a growth during the COVID-19 epidemic is the app-related industry. Consumers are less likely to want to return to the old way of doing things now that they know what they can do.
Residents in the UAE are using apps for everything from food delivery and grocery shopping to e-learning, health and fitness, remote jogging, and even psychological help.
Low Code App creation has grown in popularity in recent months as a result of rising norms; these apps can be deployed with little or no coding skills and are built to stay, opening the way for a new generation of developers.
3. Consultation through the internet
Much of the corporate world has had to adjust to the shift from face-to-face to screen-based communication, just as the education sector has. Companies from all around the world have been entrusted with facilitating the transition to virtual environments, working with company and home owners, workers, suppliers, and others who work remotely. This proved to be an eye-opening event for many of them.
Many businesses are now learning what many previously knew: doing business remotely is a pleasant experience, albeit one that is less expensive than doing business in an office. By providing online services and consultations, knowledgeable consultants will profit from the newfound confidence in virtual support operations.
4. Podcasts
The popularity of podcasting is increasing; just 22% of adults listened to this internet podcast in 2006, but that number has already risen to almost 75%. This has also turned into a lucrative business; Joe Rogan just earned $100 million to move his whole show to Spotify.
5. Web design and development
More than four billion people use the internet, and six out of ten of them own a website. Online front-end development is also a crucial skill to have in order to fulfil the increased demand for new website launches.
You might begin by creating websites to display your abilities for your friends and family. Despite the fact that there are several website builders available to assist small businesses in developing their own websites, developers are in high demand for bespoke tasks and new firms are constantly seeking for experienced code engineers at reduced prices.
6. Affiliate marketing
In the realm of marketing, we frequently hear the word affiliate marketing; when someone asks how to earn fast money online, many people immediately think of affiliate marketing. Brands that wish to sell their products online build new affiliate programs, which allow affiliate marketers (publishers and bloggers) to promote them and earn commissions.
According to one research that looked at revenue records, affiliate marketing accounts for roughly 38% of bloggers' monthly income, which ranged from $7,500 to $25,000 per month.
7. Tourism services
Despite the fact that the bulk of the globe is still under embargo, the UAE was at the top of the list of nations people wanted to visit; in December 2020, the city saw an inflow of visitors fleeing embargoes in their own countries. According to research, hotel occupancy rates surged to 71 percent in December and are expected to continue to grow. Small businesses that contribute to the provision of tourism services and lifestyle management grow on this basis.
Staying adaptable and tolerant of digital technology will be critical in every sector. Despite the fact that we are living through a once-in-a-lifetime event, exceptional times provide unparalleled lessons, which future entrepreneurs must take advantage of.
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