In these recent years, the United Arab Emirates economy has been drastically incrementing. Therefore, the opportunities to start a company are endless in the region. Individuals can even start a business while being employed full-time. Subsequently, if you are interested, you can make the most out of both worlds.
In this article, you will learn about how to start a business while being employed full-time in the UAE. There are many benefits of doing this procedure, you just have to be wise about it. Also, it will be easier if you have a good business consultancy agency by your side.
- Is it legal to start a business while being employed full-time in the UAE?
- How can you choose a proper business idea?
- What should you do to start a business while still employed full-time?
- What should you not do when starting a business while still employed full-time?
- How can Connect Resources help you?
1. Is it legal to start a business while being employed full-time in the UAE?
Yes, it is possible to start a business while being employed full-time in the United Arab Emirates. According to this matter, the provisions of:
- Federal Decree-Law N° 33 of 2021 on the Regulation of Employment Relations.
- Cabinet Resolution No. 1 of 2022 Concerning the Executive Regulations of Federal Decree-Law N° 33 of 2021 on the Regulation of Employment Relations.
Are applicable when wanting to legally start a business while being employed full-time in the area. In addition, it is now plausible that employees do not have to choose between freelancing and a full-time job.
Interested individuals can start a company or be a shareholder or partners of an existing organization in the UAE. However, they will have to obtain a No-Objection Certificate from their employer before starting their establishing or partnering processes. All of this is according to Article 10 (1) of the Employment Law.
2. How can you choose a proper business idea?
Before you start a business while being employed full-time, you need to think about what kind of business you want to conduct. You must know that you know that the early stages of the conception of your company are the hardest ones. Most people struggle to find the right business idea and end up not committing to one.
Subsequently, this ends in many half-finished projects and nothing significant to show for all the time and effort that went into them. Nevertheless, when you work with an HR consultancy agency, you can have more support every step of the way. With them, you will realize that there are no perfect business ideas. That it is best to select a proven idea that suits your strengths. Also, you should be sure that you can take this idea to further grounds than your competitors.
Your idea to start a business while being employed full-time in Dubai must be:
Firstly, your new company should have the prospective to substitute and surpass your previous income in a short amount of time. With the help of a professional employer organization, you can be able to start and develop your company quickly.
In the same way, they will give you their professional advice on whether your idea is profitable enough to start a business while being employed full-time or not. Additionally, with their support, you can obtain different benefits. For example, if you are a foreigner investing in the region, you could acquire a UAE Golden Visa in no time.
2.2 Enjoyable and Scalable
A big reason to start a business while being employed full-time is to enjoy what you do. Thus, find something that could bring you happiness and that can help others. For instance, you can try to monetize your favorite hobby. Or you can take advantage of your skills and experiences and help others with your knowledge.
On the other hand, your business must start from small and then get bigger with time. You need to start small so you can keep costs low. In this way, you can save time, energy, and money while you still work your full-time job. Here is where the services of a business consultancy can come in handy as they will help you go from a small regional company to expand globally.
3. What should you do to start a business while still employed full-time?
If you want to start a business while being employed full-time in the UAE, you should do the following:
3.1 Conduct Your Business Part-time
When you consider conducting your business as a part-time process besides your current job can let you have a stable income and benefits while you test your way into the UAE market. In this way, you can prove if your business is reliable enough as time passes.
The last thing you want is to have unpaid bills and stress while trying to develop your business. Additionally, you can have an outsourcing company by your side to help you make your company grow. So, as a team, you will be able to achieve great things in a short time.
3.2 Follow Your Employment Contract
Understanding and following your employment contract when you start a business while being employed full-time in Dubai is crucial. You must make sure that you use your work hours to do your job assignments. As most companies have a clause in their contracts that things developed during your company time belong to the organization.
Consequently, be aware that you abide by your contracts even if you are doing part-time work. If you work for your company in your free time, then you should not have to worry about working on your side project.
3.3 Save Your Side Income
Setting aside some money from the earnings of your startup can be extremely beneficial. By doing this, you can sustain yourself in the future if you decide to leave your full-time employment. Moreover, you can use part of this money to invest in your company.
You can hire the services of an employer of record organization and have their guidance and support while developing your business. These agencies have years of experience in the local market and can give you their advice on what business moves can be beneficial for you.
3.4 Be Open with Your Employer
If your startup is not competitive with them, you should be as open as possible about your business with your employer. Once you do this, you can even talk to them about the possibility of becoming a collaboration partner. Furthermore, if your idea is good enough, your employer may even think about investing in it.
When you start a business while being employed full-time in the United Arab Emirates, you have to prioritize your time. You have to be efficient if you want to succeed in both realms. Selecting a great PEO can give you the support necessary to build a plan to manage your startup proficiently. Also, excelling at your full-time employment can give you the chance to obtain more income to invest in your side business.
3.5 Outsource When Possible
Outsourcing some responsibilities such as payroll and human resources is very important. When you, as a business owner, outsource some tasks, you can save time to take care of other aspects of your business. Hiring outsourcing services to complete some assignments means that they will be ready in a short time and at a high standard.
To start a business while being employed full-time in the UAE, you must be focused on the things that could lead to quick growth. Therefore, having a team of professionals by your side can be very advantageous. Outsourcing can be the only way you can work full-time and create a business at the same time.
4. What should you not do when starting a business while still employed full-time?
There are some things that people should not do when wanting to start a business while being employed full-time in the United Arab Emirates:
4.1 Do Not Use Corporate Resources for Your Side Business
It is not acceptable to use corporate computers, email systems, or any other company resource to deal with your side business issues. Using your employer’s property to meet the goals of your organization can result in a legal violation.
It is important to know that when you acquire PRO services they will make sure that you remain compliant with any guidelines, laws, and regulations. Thus, they can take care of reviewing your contract and company’s guidelines to let you know what can you do and what can you not do while starting your side business.
4.2 Do Not Leave Your Full-time Job While Starting Your Side Business
Some new businesses can start stronger than others. However, it is not advisable to leave your current employment while your side business is still starting. Let time pass so you can make sure of how successful your company is.
Make sure that your new organization is making you a considerable income that allows you to live without any worries. Once your business is big enough to be your main earning source, you can think about leaving your current job.
4.3 Do Not Select the Wrong Type of Business
If you are not sure if your business idea can survive a part-time effort to start, then you should not invest in it. Your side company needs to be one that can be managed with no effort.
When you start a business while being employed full-timein Dubai, you do not have much time to worry about every aspect of it. Therefore, you must choose a business that will let you do these two things at the same time.
4.4 Do Not Promote Your Business in Your Full-time Job
Talking about your side business in the office can be considered as promoting your organization on company time. As a result, it could bring you legal issues with your employer. You must remember that there may be some company guidelines that will not allow you to work or talk about side business in the work area.
4.4 Do Not Let Your Side Business Damage Your Career
Do not let your initial success blindside you and lead you to damage your current career. Even if you are doing well at the start and have investors showing interest in your business, remember that you have a full-time job because you need it.
When your start a business while being employed full-time, your work is your safety net. So, until you are not 100% sure that you can sustain yourself in your new company without the need for another job, do not let it interrupt your career.
Nonetheless, when the time is right, you can make the change to full-time entrepreneurship. Once you are sure that there is a demand for your services and you have a sustainable income, you can consider self-employment.
5. How can Connect Resources help you?
If you want to start a business while being employed full-time in the UAE, Connect Resources can support you. Our team of specialists can give you the right advice to make sure that you can take on both responsibilities at once. Furthermore, we offer a wide variety of services such as staff outsourcing and contract staffing services that can make your business grow.
Would you like to start a business with Connect Resource’s support? If you like to get in touch with one of our dedicated agents to know more about the process, you can call us at +97143316688. Or you can send us an email at email@example.com.
In addition, if you are looking for the perfect job opportunity to enter the UAE market, you can visit thetalentpoint.com. There, you can submit your CV or resume and we will make sure to review it and help you find the job of your dreams. You could also send us an email at firstname.lastname@example.org and one of our dedicated recruiters will get in touch with you.