Restoring Ties with Qatar will positively Impact Gulf Economy
Saudi Arabia, UAE. Bahrain and Egypt will open their borders to Qatar as a first step toward ending a three and half year long diplomatic crisis. The opening of borders among the Gulf countries is expected to have a positive impact on the regional economy. Some of the major industries that are going to benefit from the decision includes Aviation, Consumer Goods, Construction and Logistics.
Historically, Qatar had a strong trade relationship with UAE and Saudi Arabia. It was estimated that the total trade between UAE & Qatar was around AED 13 billion (USD 3.5 billion), while the total trade between Saudi Arabia & Qatar was around AED 6 billion (USD 1.7 billion). With the trade being resumed with Qatar, UAE & Saudi Arabia will have a significant boost in their current financial standing.
Earlier this week, the Gulf countries along with Egypt were able to find resolution for all areas of conflict and agreed on restoring the diplomatic ties. The decision is likely to facilitate trade, investment and tourism apart from accelerating growth in the region in the times when it is adversely impacted by the COVID-19 Pandemic.
Research Konnection is the best rated Market Research Company in Dubai assisting clients in business setups and expansion in Dubai, Abu Dhabi and UAE. At Research Konnection, we specialize in Market Feasibility Studies, Business Plan Development and Business Modeling. Feel free to reach out to us on firstname.lastname@example.org…January 7, 2021
Dubai FDI Showcases Investment Potential in Food, Agribusiness & Technology Industries
Dubai Investment Opportunities – Food & Technology
The Dubai Investment Development Agency (Dubai FDI) have organized two webinars with potential investors from France and Switzerland to explore opportunities in the Emirate’s Food, Agricultural Products and Technology industries. As an initiative of Dubai FDI’s (Foreign Direct Investment) engagement strategy for 2020, these webinars intended to provide a platform for investors to explore FDI opportunities in Dubai at a time when the trade is affected by the COVID-19 restrictions. The investment opportunities are expected to see a mutually beneficial partnership and will help in economic recovery and growth.
UAE – Trade Partnership (France & Switzerland)
UAE is the second largest partner for France in the Middle East region, with their trade (Non-oil) exceeding a value of AED 27.5 billion (USD 7.5 billion) by the end of 2019. The import of Food & Beverage (F&B) products from France in UAE has also increased by 50% over the past 10 years. In particular, dairy products like Cream, Cheese & Butter are the major F&B products imported from France to UAE.
Similarly, Switzerland is the fifth largest trade (Non-oil) partner with its trade value exceeding AED 516 billion (USD 140.5 billion) in the last 10 years (2010-2019). The non-oil trade between two countries exceeded AED 65 billion (USD 18 billion) in 2019 which was an increase by 16.5% compared to the previous year.
Investment Opportunities – Webinar Focus
Representatives from several major organizations in UAE such as Smart Dubai, Dubai Future Foundation (DFF) and Dubai International Financial Centre (DIFC) attended the Dubai FDI webinar on Technology. The main focus of the event was on implementing the emerging technologies and incubating the technology start-ups. Dubai leads the region in utilizing and implementing the benefits of latest technologies such as Artificial Intelligence, Robotics and Machine Learning, Blockchain, Financial Technologies (Fintech) and Healthcare IT. Along with these, Dubai is also focusing on 3D Printing, Cybersecurity and Geographic Information Systems (GIS).
During the Webinar, Dubai Municipality (DM), Jebel Ali Free Zone Authority (JAFZA), and Dubai Multi Commodities Centre (DMCC) were also present at the Dubai FDI. The major topic of discussion was on developing a robust Food and Agriculture Ecosystem that has proven to be a strong measure to counter the international supply-chain disruption resulting from COVID-19 Pandemic. Dubai being a major re-exporting hub in the Middle East, maintains excellent facilities for fresh agricultural produce. The FDI will help strengthen this position and the ecosystem to further develop agricultural technologies that offer a variety of crops and yields.
Investment Opportunities in Dubai
Dubai is considered to be a leading global destination for FDI recording an exceptional growth during the first six months of 2020. Dubai FDI monitor estimated that the overall investment during this period was around AED 12 billion (USD 32 billion) over 190 projects. More than 50% of the FDI in Dubai during the first 6 months of 2020 was directed towards SMEs in the technology industry. With Dubai focusing on the Agribusiness industry and the initiative to increase the local F&B produce, both the technology and agricultural sectors are expected to provide significant investment opportunities in the forth-coming years. Contact Market Research companies in Dubai to know more about the investment opportunities in the Technology & Agribusiness industries.
Research Konnection assists local and international companies to set up or expand businesses in Dubai, Abu Dhabi and UAE. It is one of the best-rated market research companies in Dubai specializing in Market Research, Market Entry & Feasibility Studies. Feel free to reach out to us on email@example.com
…January 5, 2021
Nasdaq Dubai Growth Market to Support UAE SMEs
Small & Medium Enterprises (SMEs) account for approximately 90% of the business in Dubai. They contribute to nearly 50% of Dubai’s Gross Domestic Product (GDP) and account for 52% of the total workforce in the Emirate. The Covid-19 pandemic has resulted in an economic slowdown impacting local SMEs. In order to support these SMEs, the government has launched several measures to help them deal with the financial fallout. One such measure is the initiation of Nasdaq Dubai Growth Market.
Nasdaq Dubai Growth Market to Support the SMEs
H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, has launched the Nasdaq Dubai Growth Market which will help the SMEs by raising capital through Initial Public Offerings (IPOs) for their future expansions. The initiative falls under the Dubai Future District that focuses on leading the MENA (Middle East & Africa) region and creating a future economy by providing investment, technical, legislative, service and incentive-driven environment.
The Nasdaq Dubai Growth Market will provide a platform to innovative and fast-growing SMEs to list their business on the region’s international exchange creating an environment where businesses can prosper through forming partnerships. This will not only provide business opportunities for the SMEs within the UAE, but also for the international companies that are looking to expand in the region. As a consequence, Dubai is expected to see a boost in the economy thereby stimulating the growth across various sectors through this initiative.
The Nasdaq Dubai Growth Market
The Growth Market will play a critical role in the future by financing innovative businesses to accelerate their growth and create new markets for their products/services. The launch of this initiative will strengthen Dubai’s position as a regional leader in innovation across industries.
The Nasdaq Dubai Growth Market will allow SMEs that are valued below AED 920 million (USD 250 million) to list their business. One precondition is that business should be in operation for 1-3 years before it is listed on the platform. The Growth Market will allow owners of the business to handle the IPO and they can sell as little as 25% of the company shares providing them with control over their business operations. Several companies have already listed themselves in the Nasdaq Dubai Growth Market. They are expected to be launched in 2021.
Impact on Future Dubai & UAE Economy
The Nasdaq Dubai Growth Market will have a significant impact on the SMEs that are looking to expand their business. The Growth Market will also contribute to the UAE’s vision to achieve zero contribution of oil in its GDP over the course of next 50 years. It will also help UAE in strengthening its position as a regional leader in Innovation, Finance, Logistics, Infrastructure and Business Services.
Research Konnection is one of the leading market research companies in Dubai that assists local and international companies to set up or expand businesses in Dubai, Abu Dhabi and UAE. At Research Konnection, we specialize in Market Research, Feasibility Studies and Business Plan Development. Feel free to reach out to us on firstname.lastname@example.org…November 2, 2020
UAE Focuses on Achieving Zero Oil in GDP in the Next 50 Years
With COVID-19 pandemic bringing unprecedented challenges to people and the economy, the UAE government aims to diversify its economy by having zero oil dependency on GDP and refining policies in a bid to grow non-oil based sectors and facilitate investments in them.
Achieving Zero Oil Dependency in the Next 50 Years – UAE
UAE is aiming to become the first country in the world to achieve zero contribution of oil on its eGDP over the course of next 50 years. The country aims to enhance the investment opportunities in industries such as Information Technology (IT), Artificial Intelligence (AI), Blockchain and Robotics. In addition, UAE is also focusing on strengthening its position as a regional leader in finance, logistics, infrastructure for energy and other services which would help achieve the zero oil contribution to GDP.
Impact of FDI on Economic Diversification
Foreign Direct Investment (FDI) plays a critical role in the economic growth of UAE with the country leading the region in 2019. One of the major reasons for the increase in investments was the FDI law that was enacted in 2018, which opened up the UAE market to investors in certain sectors and relaxation of foreign ownership restrictions for 122 business activities. These initiatives cumulatively increased the FDI 52% reaching AED 50 billion (USD 14 billion) in 2019 compared to 2018.
Furthermore, the digitalisation strategies and promising business relations implemented by UAE has placed it 16th on World Bank’s Ease of Doing Business list. UAE will continue to refine its policies that will maximise competitiveness, increase collaboration and provide opportunities for FDI in a bid to achieve zero oil contribution to GDP.
Key Emerging Sectors
The Covid-19 pandemic has had a significant impact on FDI in UAE, it is estimated that the investments might start recovering by the year 2022. Some of the major segments that will see an increase in investments are e-Commerce, IT, Innovation, Healthcare, Manufacturing, Retail and Food & Beverage (F&B). Similarly, the emerging sectors that would see an increase in FDI are Communication Networks, Artificial Intelligence, Blockchain, 3D Printing and Machine-to-Machine Communication.
Research Konnection is one of the leading market research companies in Dubai that assists local and international companies to set up or expand businesses in Dubai, Abu Dhabi and UAE. At Research Konnection, we specialize in Market Research, Feasibility Studies and Business Plan Development. Feel free to reach out to us on email@example.com…October 29, 2020
Importance of Business Plan Development for Entrepreneurs & Startups
A majority of entrepreneurs and business owners do not believe in writing a business plan unless they are seeking external funding. Often excited with the idea or consumed in the thoughts of starting their business as soon as possible, they fail to understand the importance of making a business plan or doing market research to ascertain business success. Consequently, more than half of the businesses fail during the first five years of operations.
Some of the major reasons for new businesses to fail can be attributed to not properly investigating the market, understanding consumer need & demand and evaluating the business potential. Other reasons include failing to create a business model and business execution plan.
For any entrepreneurial venture, either upcoming or existing, a business plan should be considered as a critical document and therefore the benefits could not be undervalued. Some of the major benefits of creating a business plan are as follows:
A business plan can be used to double check critical aspects of a business such as the existing market conditions, competition, cost of goods sold, sales drivers and revenue projections. A market research company could support in assessing market conditions and potential. The need for market research is even more important to assess the impact of the ongoing COVID-19 pandemic on business and economy.
Business Modeling & Strategy Formulation
Based on market research findings, a business model and plan can be devised and implemented. Furthermore, market research can also help in formulating and implementing a business, operations and market strategy.
Setting Priorities & Pivoting
A business plan helps in setting priorities with respect to business growth, operations and financial health. Additionally, a business plan is used as a document to pivot and revise priorities as the business evolves, matures and gets exposed to external factors (political, socio-economic, technological, environmental & legal).
Better Financial Planning
A business plan helps in computing the finances required, forecast cash flows, project cost, expenses and revenues. The plan also helps in understanding the investment required, profitability and return on investments. Managing cash flow is highly critical for any business and many entrepreneurs / business owners fail to understand the role of financial planning before and during business operations.
A business plan helps in identifying risks (i.e. economic, market, competition, end-user, demand & supply etc.) in initial stages. Likewise, the business plan also helps in periodically tracking different risks associated with a business (at present & in future) and helps with taking action to mitigate and treat them.
Obtaining Funds & Investments
A business plan is a must requirement for serious investors, venture capitalists, angel investors and lenders. The business plan not only reflects the passion of the entrepreneur / business owners along with the future growth, but also indicates the level of seriousness and professionalism.
Research Konnection is one of the leading market research companies in Dubai that assists local and international companies to set up or expand businesses in Dubai, Abu Dhabi and UAE. At Research Konnection, we specialize in Market Research, Feasibility Studies and Business Plan Development. Feel free to reach out to us on firstname.lastname@example.org…October 24, 2020
In an effort to contain and reduce the impact of the COVID-19 on the economy, the UAE government has taken several measures including allocation of flexible stimulus budget amounting to AED 256 billion (US$ 70 billion) and initiating the first phase of UAE’s “33-Initiative Strategy” to help recover the economy and draw investors in.
UAE’s 33-Initiative Strategy
On October 18th 2020, Under the leadership of UAE’s Ministry of Economy Abdulla bin Touq Al Mari; pioneered the first phase of 33-Initiative Strategy” for recovering and accelerating the country’s economic growth. With the support of 12 ministries, federal and local entities, a strategic plan aiming to provide immediate provision for business sectors and the economy through 15 major initiatives are being implemented initially. The six tracks of the plan include creating a new economy, opening of new markets, financing support, stimulating tourism, attracting talent & stimulating innovation.
The first phase is designed to generate a balance between the public health and economy, while the second phase plans on bringing support to accelerate economic recovery and the third phase will offer integrated support for vital sectors creating a development path for the economy and future.
Impact of 33-Initiative Strategy on UAE’s Economy
Implementing the first phase of “33-Initiative Strategy” is a good head start in ensuring that UAE’s economy recovers from the impact of the ongoing COVID-19 pandemic by providing support to SMEs in increasing their sales, providing accessibility to finance, latest technology and digital applications. While supporting the business activities of the SMEs, it will also focus on enhancing opportunities for advanced industries and critical sectors such as tourism, & hospitality, healthcare, IT, retail, etc.
Research Konnection is one of the leading market research companies in Dubai that assists local and international companies to set up or expand businesses in Dubai, Abu Dhabi and UAE. At Research Konnection, we specialize in Market Research, Feasibility Studies and Business Plan Development. Feel free to reach out to us on email@example.com
…October 22, 2020
The Importance of Business Model in Entrepreneurship
A Business Model is critical for the growth and success for every business and it needs to be created by entrepreneurs or startups that are planning to start a new business or expand an existing one.
Often undermined, a business model is essential for the success of any venture and requires careful planning and research to understand the market and consumer dynamics. A major advantage of business modelling is that it supports in realistic evaluation of any business idea and its potential.
Furthermore, the potential of any business idea, product or service can be validated by conducting a market research study. The research findings of market study can equip in better understanding the market dynamic and consumer demand, eventually helping entrepreneurs in formulating a Market Entry Strategy and Business Plan.
In the aftermath of COVID-19 pandemic and global economic slowdown, it is imperative to create a well-researched business model before investing in a new business while for an existing business it is equally important to modify and re-assess market conditions.
Some of the key elements to consider before creating a business model includes but not limited to assessment of market, competition, consumers, supply chain, value proposition, resource availability (human, financial and technical). A market research company can be hired to prepare a comprehensive market and financial feasibility study inclusive of business modeling and plan development.
October 22, 2020
Importance of Conducting a Feasibility Study
A feasibility study is conducted in order to examine if the proposed business idea or venture can be applied practically in a highly volatile and unpredictable market. With almost all the industries seeing a radical change due to the COVID-19, the need to conduct a feasibility study before setting up a business has increased. It provides a head start for the business and streamlines it, saving time and money. The key function of a feasibility study is to assess and evaluate whether it is financially feasible to invest in a business / venture etc.
There are several reasons why a feasibility study is conducted.
Conducting a feasibility study helps in determining if the proposed business / venture can sustain itself for a long term and endure different kinds of risks (economic, financial, market etc.) that may incur. It can help identify the changing consumer requirements in a post-pandemic situation and provide insights on the additional services to be provided to satisfy the consumer needs. Feasibility study also helps in identifying business opportunities and/or potential threats that can hence enable business owners, investors and companies make informed decisions.
A feasibility study (market research) is usually conducted when business owners, investors and companies intend to establish or expand new business / venture in either an existing or new market.
There are several key components of a Feasibility Study which are often combined with a Business and Financial Plan.
- Business / Venture Overview
- Economic Overview (Assess socio-economic conditions and GDP growth rate etc)
- Market Overview (Assess industry size, trends, growth and potential)
- Impact of COVID-19 on the Industry
- Post COVID-19 Situation
- Competition Overview (Evaluates major competitors, market share and positioning)
- Consumer Overview (Assess needs and demands of consumers)
- Business Model Overview (Location / Licensing / SWOT / PORTER Analysis)
- Operations Overview (Management Structure / Controls / Production / Supply Chain)
- Marketing Overview (Market Segmentation / Target Audience Profiling / Marketing Plan)
- Investment Overview (Cost & Revenue Projections / Profitability / Return on Investment)
- Opportunities & Risks
Research Konnection is a market research company in Dubai that assists local and international companies to setup or expand businesses in Dubai, Abu Dhabi and UAE. At Research Konnection, we specialize in Market Research, Feasibility Studies and Business Plan Developments. Feel free to reach out to us on firstname.lastname@example.org…October 15, 2020
Why Market Research Matters
COVID-19 has impacted almost all the sectors and has made the market highly volatile and uncertain. The unpredictable conditions have further increased the need for conducting market research to be highly critical for the long-term success of any business. Organisations that fail to conduct market research tend to drown. Though some organizations conduct internal research, they tend to lose sight of the consumer market research that is required for the growth of their business.
There are several reasons why market research is considered to be of top priority for businesses in the post Covid-19 scenario.
Changing Needs of the Consumers
The consumers needs are changing at a rapid pace and are adapting themselves to the post pandemic market. Organizations are required to understand the changing social / economic dynamics and incorporate significant changes in their products / services to retain their customers and stay in business.
Market research can help the organizations identify the changing dynamics and provide strategies that will help prioritize consumer needs.
Prioritizing Consumers as a core to Business
Businesses are greatly influenced by the agendas, brand priorities and internal politics. It is necessary to understand that customers are much more important and they must be placed before anyone else.
Market research provides an opportunity to understand the expectations and demands of the customers. It also helps in continuously monitoring our progress in meeting these demands.
Focusing on Consumer Needs
Businesses today have a tough job multitasking, often playing many roles within their organisation. With the help of a market research exercise, organisations can identify what is most important to their customers and also help in prioritizing and maximizing time and efforts effectively.
Identifying lucrative Growth Opportunities
Organizations that specialize in conducting market research often tend to identify opportunities and prioritize them based on the highest revenue potential. It provides clear insights on strategies and plans that should be adapted and are well suited for business growth.
Keeping up with Current and Future Trends
Organisations that conduct market research have an advantage over their competition, as they are able to better adapt to current market conditions and changing consumer trends. The insights on consumers can be obtained by regularly conducting market research, also helping organisations to devise and/or modify short and long-term business strategies.
Market research provides insights on several dimensions such as market (growth & trends), products / services, consumers and competition. The market research also allows organizations to understand potential opportunities and risks and take actions subsequently to minimize and mitigate risks.
October 13, 2020
Academic Research – Data Collection Services
Research Konnection provides assistance in Primary Data Collection to PhD, Doctoral & Post Graduate Students. With a strong network across UAE, our experienced field team can collect primary data for all industries. During this process the personal experiences, attitudes and feelings of the target audience are recorded. Our primary data collection services include but are not restricted to
Primary Data Collection
- Online Surveys
- Personal Interviews
- Field Observations
- Tablet Aided (Personal | Telephonic | Web) Interviews and more
Our experienced and dedicated team of professionals include research methodology experts, data collection experts and statisticians who can
- Upload the questionnaires online;
- Reach out to the respondents through both online and offline strategies;
- Check the quality of the data obtained and re-approach the respondents if necessary;
- Compile the data collected;
Research Konnection has worked with PhD candidates for several major Universities across UAE including
- Zayed University
- Murdoch University – Dubai
Data Collection Services
Network in UAE
Research Konnection has a strong network in UAE, across various industries. We have the resources to collect data for all industries and Emirates, within the given time period.
Data Reliability and Quality
Our clients need not worry about the quality of data collected. Our primary aim in collecting data is ensuring its originality and authenticity. Our team also conducts a quality check on the collected material.
Processes made understandable
We keep our clients updated and consult with them throughout the data collection process. This keeps them aware of the process, so they can check the progress and assimilate to the data and reciprocate when required.
Cooperation in questionnaire
We develop a set of questions based on the research objectives. We survey and pre-test them before applying them on the target audience. We also assist in uploading questionnaires online
Formatted data delivery
We make sure to deliver the data collected in your required format of representation. Be it audio recordings or visual representations such as video, images, photographs or field notes.
Respondent reach levels
Along with selecting the sample size and geographical location, we help you choose your target audience and connect with them through various modes. We arrange reassessment with the respondents to collect and collate the data.
Why Choose Us
- 100% on time delivery
- Free creation, uploading of Survey link using Google Form
- No hidden costs
- Clear commitment and constant communication
- Affordable charges for urgent deadlines
- Various and effective modes of data collection
- 100% ethical practices to collect the data
Research Konnection is a market research company in Dubai that assists local and international companies to setup or expand businesses in Dubai, Abu Dhabi and UAE. At Research Konnection, we specialize in Market Research, Feasibility Studies and Business Plan Developments. Feel free to reach out to us on email@example.com…September 26, 2020