GNcareers, from Gulf News

Choosing a location for your business

Business LocationImage Credit: Supplied

There are many things that come into play when you decide on a location for your business. It completely depends on the type of business you have, your target market and whether you have clients, customers and stakeholders visiting your company regularly.

The UAE has a wide range of options for any investor in the country. It has free zone areas all over the emirates, areas catering to specific businesses like Dubai Healthcare City and Dubai Internet City, and business districts scattered all over like Dubai International Financial Centre, Business Bay, Downtown Dubai and Jumeirah Lakes Towers.

Economic base – One factor to take into consideration when choosing a location is the community’s economic base. You need to study the market to understand the income of the population living in and around the area. This will give you a better idea to improve your products and services.

Foot traffic and accessibility– Proximity to your customers will decide the future of your business. If you are looking at dealing in some day-to-day goods, then the ideal locations are malls, open markets, the metro stations and shopping complexes in different areas. If you are looking for trading or wholesale business, any free zone area will do. Always make sure that you are easily accessible to your customers by providing them with enough parking areas. You may also pick an area with quick links to the Dubai Metro, Dubai Tram and other modes of public transport like taxis, buses and water taxis.

Competitor – Another thing to consider when selecting a location is to be near those who sell similar products as yours. Notice that in Dubai, for example, there are a large number of electronic retailers on Computer Street in Bur Dubai, or gold sellers in Gold Souk.

Facilities – Determine if your business has special requirements. If you need warehouses and be near the airport or seaport, you may consider an industrial zone or free zone near those areas. You may also consider a serviced office if you do not want the hassle of furnishing a shell and core space.

Handy Hints
• First check whether the location meets your business needs
• Consider an area’s accessibility, parking area, security and rent
• Compare the community economics, your products and service

Source: Asha Das, Special to Properties
The writer is a freelancer