Tough headwinds but business is good, says Dubai setup consultancy

A&A Associate paint rosy outlook for 2023 after registering strongest numbers amid job losses worldwide

DUBAI, DUBAI, UNITED ARAB EMIRATES, April 16, 2023/EINPresswire.com/ -- Riding on a powerful start to 2023 with record numbers in January, leading business consultancy A&A Associate is looking forward to a strong year of operations in the UAE. The business setup experts in Dubai saw numbers similar to a Free Zone itself when they helped 307 companies to be registered last month. A whopping 55 entities signed up in one day itself.

“The numbers partly are a reflection of our efforts, some organic referral business from the recent past, favourable conditions for doing business in the UAE as facilitated by the government and alignment of other economic factors shaping up in the global outlook,” said Robin Philip, the founder and Group CEO of A&A Associate. The company started as an accounting and audit firm but also offers trademark and legal services to its clients as a one-stop platform.

Winner of the 2022 fastest growing consultancy in the UAE award by the British publication Global Business Outlook among others, A&A Associate has hit the ground running at the first turn of the year. The January figures show a remarkable spike of over 20 percent compared to the monthly average of a successful 2022.
“Going forward, we see this trend to continue with the onset of corporate tax, the settling effect of the changes related to visa and residency rules, introduction of new personal laws for expatriates and easing of recessionary fears a bit around the world. There are other factors as well, but this have been the highlights so far that we think are the reasons for a positive outlook to 2023,” Philip said.

Powering the growth have been the usual drivers of real estate and tourism in a country which worked overtime to ensure safety of its residents during the Covid-19 crisis. Tourism provides for nearly 20 percent of the country’s total Gross Domestic Product numbers. Last month saw a penthouse villa fetch Dh406 million alone as the highest recorded figure in UAE’s real estate.

The flow of business visitors is reflecting in a report by JLL MENA which has projected a hike of 72% year-on-year in the Hospitality industry. Non-oil foreign trade for the UAE touched a record figure of US$607 billion. Another JLL report on global hotel investment, where UAE features prominently, says cross-border capitalisation is expected to increase in tandem with re-emergence of international travel.

“We are seeing a third recession in 15 years, and so better prepared. The geo-political developments like the war on Ukraine and COP 28 to be held in the UAE has only seen the local leadership take a proactive approach. Even the neighbouring Saudi Arabia is witnessing continued growth. So the region is bound to see economic activity,” said Philip, while pointing out the example of how the Abu Dhabi National Oil Company has signed agreements to manufacture products locally worth billions over the next decade.

“While Europe is at the centre of an energy crisis, the entrepreneurial spirit in the UAE has certainly not dimmed. With our expert team of 150-plus specialists, we can handle and guide on every type of business requirement – from acquisition, liquidation or restructuring,” Philip added.

About A&A Associate
A&A Associate is a leading Dubai business setup company and the only such firm that houses Chartered Accountants, lawyers, and consultants providing a wide range of legal, auditing, accounting and management consulting solutions, designed to meet different business one needs through a single window. Visit the website aaconsultancy.ae if you are someone looking to set up a new business anywhere in the UAE and need help.

Kuumar Kavita Shyam
Middle East Media Corp.
kumar@memc.co