The E-Trader License was a game changer when it was first introduced in 2017, creating opportunities to the community of experts, artisans, and budding investors and giving them a chance to trade and improve their expertise in the abundant Emirate of Dubai. Known for being one of the most cost-effective licenses in the UAE, the E-Trader license continues to assist them in their journey in the country, opening doors towards investment success.
Previously we have discussed how to get your own E-Trader License. Now, to assist you in maintaining your business license in Dubai, we came up with ways on how to maximize and improve your E-Trader business:
Research and study about your license!
Since the E-Trader License was first launched by the Dubai Department of Economic Development, the said license has evolved in the past years and paved the way to numerous startups and single proprietorship to flourish in the country. From being issued exclusively to UAE and GCC Nationals sole traders, the license has become available to foreign residents. However, only professional and service licenses will be given to expatriate residents.
It is important to know that coverage and limitations of your E-Trader License to avoid confusion and incurring any legal charges from the authority. For example, the license is only issued to sole proprietors who do not require a physical office to start their business. As a license holder, you will not be allowed to buy wholesale goods and sell them in retail – you are only allowed to trade goods you have crafted or manufactured. In other words, an E-Trader’s business relies mostly on his/her craft and expertise. Foreign E-Traders are only allowed to offer professional services.
Build an attracting brand presence online.
The E-Trader License relies mostly on your online presence as physical offices are not allowed for E-Traders. With this, it is vital to make an attractive online presence through concepts of SEO, Digital Marketing and Advertising, and Social Media Management. Focus on providing effective marketing strategies and efficient client service through functional and responsive websites and social media accounts as the fight between brands in the World Wide Web is a tight race.
Nurture your craft.
The success of your business relies on many elements, but your performance covers most of it. As the E-Trader license is built especially for experts and artisans on specific fields, nurturing and developing your craftsmanship will greatly help to ensure the attainment of your goals. Take advantage of the free business courses and specialized training provided by the DED to improve your skills and develop new ones.
Invest in your equipment.
As an E-Trader, a physical office and a large manpower is not required to keep your business up and running. Because of this, you will be able to save sufficient funds to further invest it to grow your business. One of which is your needed equipment. By using high quality equipment, you will not only improve the quality of your work, but you can also ensure the stability of your equipment, further saving you funds for the next years.
Connect with the wide network available.
Finally, as a sole trader, you would need to take advantage of Dubai’s successful community of experts, professionals, service providers, and corporate agents. Aside from building a network of loyal followers and customers, connect with our co-traders to learn from them and seek their help when the time comes. In turn, be open in helping budding investors and professionals and impart your gained knowledge to them as well to keep the sector strong and dynamic.
Ready to get your E-Trader license?
IBG Consulting offers the complete packages to investors and businesses of all kinds – we provide services from business setup in Dubai and all over the UAE, to corporate services to keep your business up and running such as accounting, bookkeeping, brand registration, PRO services, and many more. We strive to give you the best, most effective package that fit the needs of your dream business.