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Report on Smal Business in Abi Dhabi

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Added on  2020-05-28

Report on Smal Business in Abi Dhabi

   Added on 2020-05-28

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Running head: BUSNESS IN ABU DHABIBusiness in Abu DhabiName of the StudentName of the UniversityAuthor Note
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1BUSINESS IN ABU DHABIExecutive Summary:The report focuses on providing a brief idea about the creation of a small business in Abu Dhabi.In this regard the legal and government procedures have been taken into account and theimportance of the Department of Economics Development (DED) has been emphasized in thecreation of a new business. However in this context it has been briefly explained that in thepresence of various other forms of companies why a business involving a Sole ProprietorshipCompany is best suited for the economic benefit of the country. In this regard the report iscommissioned to examine the additional requirements that can be applied while creating abusiness in Abu Dhabi.
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2BUSINESS IN ABU DHABITable of ContentsIntroduction:..................................................................................................................................3Discussion:......................................................................................................................................3Sole Proprietor Company better than the other prevailing options:....................................3Other forms of company creation would not be permissible to legal entities:.....................4Legal and government procedures along with DED in opening a business in UAE:..........5Conclusion:.....................................................................................................................................7References:.....................................................................................................................................8
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3BUSINESS IN ABU DHABIIntroduction:For the purpose of determining suitable business structure in Abu Dhabi in order to createsmall a business in Abu Dhabi a least expensive and simple legal form of company has to beselected. In order to conduct this assignment a Sole Proprietor Company has been selected whichis the best legal form of company that can be created in Abu Dhabi. An establishment of soleproprietorship takes place only when an entity is owned by one individual with a trade licenseissued in the name of such individual (Aljifri et al. 2014). In case of a Sole Proprietor Companythe owner assumes that allthe financial responsibilities incurred in the course of business of theentity including the financial liabilities lies with such owner (Desislava and Keith 2016).Therefore in the present question in which it was asked to create a small business which isinvolved in selling of phone accessories in a shopping mall. In order to provide the requiredanswer to this question a Sole Proprietor Company is considered to be the best option because insuch cases in order to incur losses in business the owner is liable to take personal loan for thesake of the business. In this regard it can be stated that every Cell phone brand has adopted atechnique of its own in order to establish Kiosk business in UAE in order to step into areas wherestores cannot be developed. In recent development of technology the retailers of mobile phoneaccessories are integrating new ideas by deploying kiosks at areas of high customer demands. Discussion:Sole Proprietor Company better than the other prevailing options:In UAE other types of business entities exists for instance sole proprietorship business,limited partnership business, non-profit corporation and general partnership business (French
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