Role of a Business Advisor

A business advisor helps support new and existing businesses. They can provide the expertise and knowledge that is needed to clarify business ideas, point out relevant facts and legalities, and assist the client decide if a business plan is viable.

The primary task of a business advisor is to provide advice and support to a start up business, which is very important to its survival and success, especially in the beginning of development. At this stage the business is at risk of losing a sense of proportion. Essentially, a business advisor is impartial and objective in approach, and can help to obtain a more realistic assessment of the prospects for the business. An advisor can guide a business find its own solutions as they can predict the potential risks involved. They can help the prospective entrepreneur gain the necessary skills and confidence to go about with the business. The experience of a business advisor can be applied to most clients’ situations, especially knowledge of the local area, personal contacts, key business markets and the status of the local and global economy. For instance, a start up business may not have any previous management experience. A business consultant or an advisor can draw a successful business plan using proven tools and methods of business analysis.

Key areas of business consulting includes finance and accounting, legal requirements, personnel management, designing and developing business identity and products, utilizing new technologies and traditional methods for popularizing services or products, exporting goods and services, environmental management, marketing and sales. A business advisor generally can access numerous resources such as loans acquisition , authorities providing legal approval , training on specific functions or products and many more.

The Business Advisor usually has to gain an overall understanding of the firm being planned or started. This includes getting acquainted with the type of business, types of products and services, capital structure, related parties, and compensation methods. He should also consider the factors affecting the industry in which the business entity operates, such as economic conditions, government regulations, and technological advancements. During the analysis, such information helps the business advisor to

1. Identify the areas that may need specific attention.

2. Assess conditions under which market analysis is performed and reviewed

3. Evaluate estimates for expected profits, such as valuation of assets, profits based on markets, boosting up revenues by marketing and sales activities and so on.

4. Evaluate the present management policies and suggest proactive changes

5. Make conclusive decisions based on the applied techniques

Knowledge of the business is generally gained through experience through the company or the concerned industry through consultation with the personnel of the entity. Other sources include industry publications, financial statements of other organizations in the industry, textbooks, periodicals, and knowledgeable experts in the industry.

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Requirements for business incorporation in Dubai

Business formation in Dubai is a simple process if you are aware of the facts and requirements. UAE has one of the finest economic stability and profitability. The flexible options and policies are too good to be overlooked.

However, starting up a business from scratch in Dubai may put you through a lot of hurdles unless you know how it is done or you get the assistance of an expert to take care of it for you.

Hiring an expert Business Consultant

One of the best ways to go about with business incorporation in Dubai is to hire a local expert to take care of all the factors pertaining to the investment. Business consultants in the UAE, especially those operating in Dubai, are cautious to prepare themselves with thorough knowledge of the market, as well as the various laws and requirements of the bureaucracy to be kept in mind by foreign investors to set up business in the city. The factors that are mandatory requirements for a business set up in Dubai :

Business Analysis and Research:

Your Business Consultant has to perform a complete analysis of the market for the products and services related to your business. The consultant will analyze and identify the opportunities in the market for the proposed enterprise .They then come up with a catalog of common requirements and issues. This usually includes regulatory hurdles you may have to go through for properly registering your business in the city, categorizing the possible expenditure and investment, possible financial assistance options etc.

Legal procedures

Your business consultant ensures that all the requirements and paperwork involved in registering your business in Dubai are completed as they usually are well aware of the government policies for foreign investors and other legal formalities. These formalities may include getting your documents signed, sealed and filed with the concerned authorities to ensure you start your business operations as soon as possible.

It is worthwhile to hire a local business consultant for your business incorporation requirements in Dubai. But some may feel the pinch of it as it is a little expensive option. If you are planning to do the research and complete the formalities on your own, these tips might be useful.

• Know the market by doing an extensive research to know the pulse of the market for your proposed enterprise in the region. This has to be done very carefully as you are the investor. You may want to take help of a native or a sponsor from Dubai regarding this. They can help you come up with a business plan as they are aware of the rules and regulations well. Make sure you have the knowledge of the foreign investments rules and policies of Dubai as you may need the information to fill the required documents.
• Find a local partner who can sponsor to set up your business or you may have to start your business in one of the Free Trade Zones in the city. The law requires you to have a native UAE sponsor as a partner for your business. You can easily find a partner as there are many options available. However, you need a sponsor who has the knowledge of the market and your business specifically to make sure; he can run the business in your absence.

The next huge task is to look for the financing options. As an investor, you might require to apply for a loan with any bank and accumulate funds to expand your operations. Any local business consultant might be able to help you with your financing.


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Common Post Business Incorporation Procedures

These are the procedures that have to be completed post business incorporation process.

Post the incorporation process, a company whether public or private becomes a separate legal entity that is distinct from the members who incorporate it. The company has an owned name and a registered address for its operations.

The company performs its operations through the directors who are based at the jurisdiction. The board members are appointed by the management of the company. The Directors have the power of policy making and running the offshore operations. They report to the headquarters of the organization.

Post incorporation the documents and reports that have to be filed annually are balance sheet, annual return and some periodic reports that have to be filed with the ROC.

Board members selection


A chairman has to be appointed or elected for the board. Further, first directors are selected and their names are featured in the articles of business incorporation. A new member can be inducted in the Board at any time by conducting an opinion poll and announcing in the Board meeting.

Business Transaction commencement


The board then appoints auditors within the first month of the incorporation. If the management board fails to appoint auditors in the first month of inception, the shareholders appoint them through a general meeting. The first board of directors arrives on a financial year that usually commences from the date of incorporation to the approaching 31^st March. Second financial year starts from 1^st April to 31^st March of the next year. Apart from 4 mandatory board members meeting, an Annual General meet is conducted including all the shareholders where the annual reports of audit, finance are released and discussed.

Issue of Share Certificates


Share Certificates are issued in the first board meeting with the unique company seal and authorized by the board of directors.

Annual Accounts and Audits reports

These reports are filed and discussed in the annual board as well as general body meeting. These documents have to be registered with the jurisdiction registrar without fail.

Filing Annual Returns and the statutory books to be maintained

The company should compulsorily file annual return, duely authorized by the board as well as the management to ensure transparency. The company also should have a permanent mail address for all the legal communications with the concerned registering officer of the jurisdiction. The company should maintain statutory books and registers pertaining to the operations and transaction of the company diligently to avoid any penal actions.


If a business incorporation is done following all the necessary procedures and keeping into account the offshore location’s policies and rules in mind , the process will turn out really beneficial for the organization.

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