Chris_m

Looking for help regarding the above. I am in the process of setting up my own company. Have everything in place


An outstanding business plan
Website
Branding
Client base

We have pitched so far to two very big companies and both are interested,

Sadly though the biggest hurdle i am facing currently is finance. I am looking for an investor.

Does anyone have experience of setting up a company here in Dubai and could possibly help with investors???

Thanks Chris

jackthehat

How much can you afford to lose?

Millhouse

Try and get the local partner to cough some money up.

Otherwise, call people like becocapital

Quackers

Give me your bank details and I will send you all my money

mentalist

Surely, raising the capital is one of the primary considerations when starting a new business. If you have such an "outstanding business plan", why hasn't your regular bank offered you a loan? It sounds as if it hasn't been thought through properly. By the way, selling sand to the UAE Government does not qualify as a good proposition.

Millhouse

This is very naive Mentalist. This region is the hardest in the world for new businesses to raise finance. It is highly unlikely that he will be able to get a loan from a bank here. Even operational businesses with good margins struggle to get simple things like trade finance and Letters of Credit.

Anyway, he sounds like he wants an investor that can help rather than a bank that will just try and screw him.

Meow

There's a presentation at The Shelter in a few days time that is about SMEs and entrepreneurs rasing funding.

Bongoman2

I have just finished the last of 4 seminars about Business Law for Entrepreneurs at the shelter. Was quite useful as we are also looking to start up a business towards the end of the year.

As for the original question you will need to play your cards right for any VC to invest. We haven't gone down that path as I feel its too wrought with risk and hate the idea of being tied to that investor.

There is a lot of information from local VCs here: www.envestors.ae/
They have some great financial modelling tools to really evaluate viability and helped us to prove our idea.

mentalist

Chris_m

No need to lose any money, I ran this business model for 3months and know it works sadly. The erm "Gentleman" who was running it has no idea how to run a business. Standing in front of 50 customers of your clients and slagging them off just to try and increase revenue is not clever.

I wont be using a local partner. And if i were i would not introduce money into the equation. I'll look at becocapital, Thanks

I have no desire to take cash from anyone, Am offering a business opportunity


Currently have no Visa and no salary certificate, If i did apply to a bank for a loan having the aforementioned, Am sure once i tell them am planning on leaving my current position they will cancel any cards i may have and force me to pay off any outstanding balances. As is the norm in this part of the world

Exactly, I have met with a few investors who over the phone are great, Come face to face to discuss money and you find money is tied up in other projects but in a years time blah bah blah........... I just wish to find someone who will do as they say and say as they do. Very hard in this town sadly

Have you any more info on this?? Please

I had looked at envestors.ae but i always wondered what there Angle was. Will call them 1st thing Sunday and see where we go from there.

Thanks Chris

Sandboy

wanna bet ?

Sandboy

http://shelter.ae/page/introductory-...e-for-business

took me 30 secs, can I be Business Development Director ?

Bongoman2

Umm that was in January. You can be BD, but I doubt you could be in charge of project management or accounts.

Bongoman2

I think you will struggle to just waltz into Dubai and try and sell your idea straight off the bat!

If it is a unique idea for a business you are pitching, have you made these possible investors sign NDAs? Why not offer them a franchise of the business if it is so successful elsewhere?

Business licencing in Dubai is not just hit and giggle.

Mind telling us what the business is? We may be interested to buy your idea if thats what your selling

Bahtatboy

I've sold them oil...