Financial
Key Considerations in Financial Planning for Entrepreneurs
 
																								
												
												
											By Dr. Sunita Mathur, Assistant Professor at Heriot-Watt University Dubai
Entrepreneurship is a challenging yet rewarding endeavor, and financial planning plays a crucial role in determining the success and longevity of any business. The UAE is one of the most attractive destinations for entrepreneurs due to its business-friendly environment, strategic location, and tax advantages. As the Middle East’s startup ecosystem thrives, the UAE continues to cement its status as the region’s leading destination for entrepreneurs. In Q2 2024 alone, the country registered 5,600 new businesses, reflecting its investor-friendly policies, robust infrastructure, and access to capital. However, financial planning is crucial to ensure sustainability and long-term success. Entrepreneurs must navigate various factors, including startup costs, taxation, funding options, and regulatory framework.
The first step in financial planning is choosing the right business structure. Entrepreneurs in the UAE can opt for mainland companies, which allow businesses to operate anywhere in the UAE but require local sponsorship for certain activities. UAE is home to several prominent free zones that attract startups, such as Dubai International Financial Centre (DIFC), which has a total number of 5,523 active companies and Jebel Ali Free Zone (JAFZA), just to name a few. According to Dubai Chamber of Commerce, in the first nine months of 2024, 51,561 new companies joined as members. By the end of the third quarter, ADGM had issued 759 new business licenses. Free zone companies offer 100 per cent foreign ownership, tax benefits, and simplified setup procedures but often have geographical restrictions on trade. Offshore companies are primarily used for international trade, asset protection, and tax optimisation but cannot conduct business within the UAE. Setting up a business involves costs such as trade license fees, visa expenses, and office rentals. Entrepreneurs should budget for these upfront costs and factor in annual renewal fees to avoid disruptions.
Securing adequate funding is another major consideration for entrepreneurs. While self-financing is an option for some, many businesses require external capital to scale. Entrepreneurs in the UAE have several funding options, including bank loans, but these require strong credit history and collateral. Angel investors and venture capital firms provide funding and mentorship through hubs like DIFC FinTech Hive, Hub71, and Sheraa alone, has supported 180 startups with 52% of women startups generating revenue of USD 248M since its inception in 2016. Government grants and programs such as Dubai SME, Khalifa Fund, and Ghadan 21 offer financial support for startups and innovative businesses. Islamic financing options like Murabaha and Ijara provide Sharia-compliant alternatives. Selecting the right funding source depends on the business model, growth stage, and financial goals.
Managing cash flow efficiently is critical for businesses in the UAE, as payment cycles can be lengthy, especially in industries reliant on government contracts or large corporate clients. Entrepreneurs need to maintain a liquidity buffer to cover at least six to twelve months of operational expenses, plan for delayed payments, which are common in some sectors, and open a corporate bank account early, as the process can take several weeks due to compliance checks. By closely monitoring cash flow, businesses can ensure they have enough working capital to sustain operations and invest in growth opportunities.
While the UAE is known for its tax-friendly environment, entrepreneurs must comply with VAT and corporate tax regulations. Businesses with annual revenues exceeding AED 375,000 must register for VAT and file returns quarterly. A corporate tax of 9 per cent introduced in 2023 applies to businesses earning over AED 375,000 in taxable income, with exemptions for Free Zone businesses meeting specific criteria. Entrepreneurs involved in international trade should also consider customs duties and withholding tax obligations. Proper tax planning ensures compliance and avoids penalties.
The UAE is a highly competitive market, and pricing strategies must be carefully developed to ensure profitability. Entrepreneurs should conduct market research to determine competitive pricing, account for currency fluctuations, especially if dealing with international suppliers, and consider operating costs such as rent, salaries, and logistics when setting prices. Regularly reviewing pricing structures can help maintain profit margins while remaining competitive.
Entrepreneurs must also be prepared for potential risks, including economic downturns, regulatory changes, and industry-specific challenges. Key risk management strategies include business insurance, which is mandatory for employees and can safeguard assets; diversification to avoid over-reliance on a single revenue source or market; legal compliance to prevent financial and operational complications; and establishing an emergency fund to cover unforeseen expenses and prevent financial strain during challenging times. As per Dubai SME and other reports, 80 per cent of startups in the UAE fail within the first 2 years, and the key reasons for failure include lack of funding, regulatory challenges and market saturation in certain industries such as e-commerce.
Expanding a business in the UAE requires careful financial planning. Entrepreneurs should leverage the UAE’s strategic location to expand into GCC and MENA markets, explore dual licensing options to operate in both Free Zones and the Mainland, seek government incentives for innovation-driven businesses, and consider forming strategic partnerships to gain market access and reduce costs. Expansion should be backed by financial feasibility studies to ensure sustainable growth.
A well-planned exit strategy is essential for long-term financial success and ensures that entrepreneurs can maximise the value of their business when transitioning out.
Financial planning is a fundamental aspect of entrepreneurial success in the UAE. By carefully considering business setup costs, managing cash flow, securing appropriate funding, staying compliant with tax regulations, and planning for risks and growth, entrepreneurs can build sustainable businesses. With the right financial strategies in place, they can take full advantage of the UAE’s dynamic business environment and achieve long-term success.
Financial
Emerging Trends Shaping Financial Empowerment and Inclusion in the UAE Workforce
 
														By Claudio Di Zanni, Managing Director, Edenred Middle East

One of the most critical issues faced by low-income employees across the UAE and the broader Gulf region is achieving true financial empowerment. In the UAE, over 60% of the workforce comprises low-income migrant workers earning less than AED 5,000 per month. These employees are the backbone of the nation’s key industries, yet many still struggle to access the benefits of a fully digital financial ecosystem.
While the UAE’s Wage Protection System (WPS) was introduced to safeguard workers’ rights—ensuring salaries are paid accurately, on time, and through traceable digital channels—the banking system’s minimum salary requirement prevents a large portion of the workforce from opening traditional accounts. This creates a structural gap that payroll solutions are designed to fill, enabling compliant salary payments and basic access to digital finance.
As the Middle East accelerates its digital transformation and workforce reforms, how workers are paid and supported financially has become as important as how they contribute to growth. This shift has put a renewed spotlight on the systems managing their wages and day-to-day financial needs. For low-income employees, these systems determine not just how they are paid, but how securely they live—affecting access to savings, remittances, and their ability to handle emergencies.
When Digital Pay Isn’t Enough
The introduction of the Wage Protection System marked a turning point in the UAE’s journey toward fair and transparent wage practices. Today, nearly all employees are paid through digital channels, ensuring salaries are disbursed accurately and on time. Yet despite these advances, a significant percentage of wages are still withdrawn in cash each month, showing that digital pay does not automatically translate into digital financial inclusion.
For many employees, limited digital literacy, mistrust of financial systems, and unfamiliarity with digital tools prevent them from engaging fully with the digital economy. As a result, the very system designed to protect and empower workers can feel more like a compliance obligation than an opportunity for empowerment.
This is where payroll providers play a critical role. Too often, the industry stops at compliance—ensuring wages are delivered digitally—without addressing the human factors that determine whether employees can truly benefit from financial technology. Empowerment comes not from the transfer itself, but from helping workers understand, trust, and use digital money confidently. Only then can payroll innovation translate into lasting financial well-being and equal access to economic opportunity across the UAE.
Digital salary management platforms have already transformed how employees receive and manage their earnings. Mobile apps and prepaid cards now give workers immediate access to their wages, allowing them to make purchases, send remittances, and track expenses in real time. Many solutions integrate seamlessly with the WPS, enabling even unbanked employees to participate in the digital economy for the first time. A recent study found that organizations implementing mobile-accessible payroll solutions report up to 25 percent higher employee satisfaction, underscoring the clear business value of digital inclusion.
Empowering Through Education
Financial literacy programs are equally critical in helping employees make informed decisions about saving, budgeting, credit, and long-term planning. In the UAE, less than 31 percent of the population demonstrates basic financial literacy, highlighting a major opportunity to empower workers through education.
From workshops to mobile-based learning tools, such programs can equip employees with the practical skills to use digital salary systems effectively, avoid debt traps, and build savings or plan remittances. Employers that distribute salary cards directly at worker accommodations and provide multilingual support during onboarding see much higher adoption rates, as these field-level activations build trust and make digital tools easier to use.
Employers who take financial education seriously often see a clear business impact. Companies that invest in onboarding sessions and field engagement consistently report higher digital adoption rates. These activations not only build trust but also transform digital payroll from a compliance task into a tangible employee benefit.
When workers understand and trust digital tools, they gain control over their finances—and that stability shows at work. Financial stress is one of the most common challenges among low-income employees, limiting their ability to manage urgent expenses and affecting productivity, retention, and overall well-being. In sectors such as construction, this stress can even impact concentration and safety, as employees distracted by financial worries are less able to perform at their best.
Partnerships between employers and fintechs like Edenred are expanding this approach, combining digital wage tools with financial education programs that improve confidence, satisfaction, and long-term well-being.
The Next Phase of Financial Empowerment
Employers remain central to driving inclusion. By choosing payroll partners that provide multilingual support, education, and easy mobile access, companies can reduce disputes, strengthen retention, and improve overall workforce stability.
A growing number of organizations are now exploring earned wage access programs, which allow employees to access a portion of their earned income before payday. Surveys show that most low-income workers value this flexibility to cover urgent expenses, medical bills, or family emergencies—without resorting to high-interest loans or informal borrowing. When paired with education and budgeting tools, earned wage access can provide not just relief in emergencies but also encourage more responsible money management.
This flexibility can increase employees’ sense of financial security, yet it should complement—not replace—broader financial literacy and planning initiatives. The most successful models combine accessible financial products, user education, and ongoing engagement, ensuring workers have both the tools and the confidence to manage their finances effectively.
As technology evolves, artificial intelligence and data analytics will make financial support more personalized and accessible. Predictive models can help employers identify employees under financial strain, while new digital products can guide users toward healthier financial behaviors. But technology alone will not close the gap.
Real progress will depend on collaboration between fintechs, employers, and regulators to build an ecosystem that blends technology, education, and empathy. Businesses increasingly recognize that supporting workers in their financial journeys fosters a more engaged and loyal workforce, directly impacting productivity and retention. Selecting payroll partners that combine compliance with education, multilingual support, and mobile accessibility helps companies reduce payroll disputes and improve satisfaction.
The trajectory of financial empowerment for low-income employees in the UAE is promising. The next stage will depend on how effectively stakeholders align innovation with understanding—ensuring every salary payment becomes an opportunity for inclusion and growth. When that happens, financial empowerment will move from aspiration to reality.
Financial
MultiBank Group and Khabib Nurmagomedov Launch an Exclusive Worldwide Multi-Billion-Dollar Joint Venture to Build the World’s First Regulated Tokenized Sports Ecosystem
 
														
Multibank Group, the financial derivatives institution, has entered into an exclusive worldwide multi-billion-dollar joint venture with global sports icon and undefeated UFC champion Khabib Nurmagomedov (29-0) to create a first-of-its-kind regulated ecosystem connecting global finance, sports and technology.
The partnership will culminate in the creation of a multi-billion-dollar joint venture, MultiBank Khabib LLC, uniting two global powerhouses: MultiBank Group, a leader in regulated financial excellence, and Khabib Nurmagomedov, undefeated in the octagon and whose influence extends far beyond sport. The company will operate from MultiBank Group’s headquarters in Dubai, building a worldwide network of high-end sports ventures and real-world digital assets. This structure fulfills the vision of MultiBank Group Founder and Chairman, Naser Taher, for an exclusive global joint venture, granting MultiBank exclusive rights to develop and promote projects under the Khabib Nurmagomedov brand name, including the development of 30 state of the art Khabib gyms, Gameplan and Eagle FC brands.
The entire venture is backed by MultiBank Group’s regulated digital ecosystem and powered by its cornerstone $MBG Token being the driving force behind its expanding portfolio of real-world-asset (RWA) technologies and initiatives.
Naser Taher, Founder and Chairman of MultiBank Group, stated: “From the UAE, we are shaping a new blueprint for the business of sport through the regulated tokenization of real-world sports assets (RWSA). Together with Khabib Nurmagomedov, and powered by our ecosystem token, $MBG, we are uniting finance and athletics into a single transparent, technology-driven ecosystem — one built on trust, innovation, and the strength of the MultiBank framework. This initiative proudly aligns with the UAE’s vision of becoming a global hub for digital asset innovation and world-class sports.”
Khabib Nurmagomedov added: “This partnership with MultiBank Group is built on shared values of strength, respect, and discipline. Together with Multibank, we are building real global opportunities that go beyond sport, empowering athletes, and fans through a regulated and innovative digital ecosystem. This is only the beginning.”
Financial
Edenred UAE strengthens market leadership with financially inclusive payroll solutions, C3Pay serving 2.5 million users
 
														
Edenred, a leading digital platform for services and specific purpose payments and the undisputed market leader in salary processing and financial inclusion for the underbanked in the UAE, continues to reinforce its leading position in payroll card solutions, value-added financial services, and compliance-first innovation under the leadership of newly appointed Managing Director Claudio Di Zanni.
As the first company authorised by the Central Bank of the UAE to process WPS salaries, Edenred UAE has long positioned financial inclusion as the foundation of its offer in UAE — ensuring that access to financial services isn’t an added benefit, but a guaranteed outcome of getting paid.
Trusted by both large enterprises and a growing base of SMEs, the backbone of the UAE economy, Edenred UAE now serves more than 15,000 corporate clients, 2.5 million cardholders, and partners with over 10 banks and 20 financial institutions. Demand has been strong in sectors such as manufacturing, construction, and facility management—where reliability and seamless execution are critical.
Edenred UAE salary cards, C3Pay, powered by RAKBANK and part of the Mastercard network, can be used globally. A key driver of Edenred’s adoption success is its unmatched expertise in on-site training at worker accommodations, which helps large enterprises efficiently onboard thousands of employees. This ensures that workers understand how to activate their cards, utilise app features, and engage with key financial tools.

Claudio Di Zanni, Managing Director, Edenred Middle East, said: “Edenred UAE has set the benchmark for payroll and financial access in the region with digital innovative solutions, great ambitions and internationally committed teams. Our ambition now is to extend that lead by deepening trust with our clients, scaling services that matter to end users, and ensuring full compliance in a fast-evolving regulatory landscape. With unmatched reach, an expanding client base, and a proven model for financial inclusion, we are ready to shape the next phase of the region’s salary card ecosystem — developing its full potential and contributing to giving workers who were previously excluded from the financial system a secure, transparent, and dignified way to manage their money.”
Edenred UAE remains the reference in payroll solutions, as it continues to scale high-impact services, deepen banking partnerships, and reinforce its role as the benchmark for secure, compliant, and ethical financial access in the UAE and beyond. With a sharpened focus on innovation and strengthened leadership, it is entering a new chapter of platform excellence as the backbone of financial access for the UAE’s workforce.
- 
																	   Tech News1 year ago Tech News1 year agoDenodo Bolsters Executive Team by Hiring Christophe Culine as its Chief Revenue Officer 
- 
																	   VAR7 months ago VAR7 months agoMicrosoft Launches New Surface Copilot+ PCs for Business 
- 
																	   Tech Interviews2 years ago Tech Interviews2 years agoNavigating the Cybersecurity Landscape in Hybrid Work Environments 
- 
																	   Tech News3 months ago Tech News3 months agoNothing Launches flagship Nothing Phone (3) and Headphone (1) in theme with the Iconic Museum of the Future in Dubai 
- 
																	   Tech News2 years ago Tech News2 years agoBrighton College Abu Dhabi and Brighton College Al Ain Donate 954 IT Devices in Support of ‘Donate Your Own Device’ Campaign 
- 
																	   Editorial11 months ago Editorial11 months agoCelebrating UAE National Day: A Legacy of Leadership and Technological Innovation 
- 
																	   VAR1 year ago VAR1 year agoSamsung Galaxy Z Fold6 vs Google Pixel 9 Pro Fold: Clash Of The Folding Phenoms 
- 
																	   Cover Story8 months ago Cover Story8 months agoUnifonic Leading the Future of AI-Driven Customer Engagement 

 Have a question? +971 56 404 0503
Have a question? +971 56 404 0503 
								  
								  
								  
								  
									  
									 
																	 
									 
																	 
									 
																	 
									 
																	 
									 
																	 
									 
																	
 
											 
											 
											 
											