Dubai one among top cities for entrepreneurial success

Dubai was ranked among top global cities for entrepreneurial success, according to a new survey released on Thursday.

The global survey of 200 cities by Oberlo reveals those with the most supportive ecosystems for successful business around the world. The study, “Top cities for entrepreneurial success,” compares and analyses 13 factors that contribute to entrepreneurial success.

These factors include: Economic Freedom, Days to set up an LLC, Female entrepreneurs, Covid-19 Support, Tech Ecosystem, Human Tech Capital, Logistics Ecosystem, Postage Price Deviation from Median, Access to Global Market, Unemployment Benefits, Small Business Loans, Business Taxes and Venture Capital.

Globally, Dubai secured the 59th spot with a score of 59.9. In the Economic Freedom index, Dubai scored 79.9, while London came first with an 88.7, followed by New York and San Francisco at 86.8 and 86.6 points respectively.

Dubai is the only city that scored 100 per cent in the Business Tax index with its zero-tax environment. The score reflects the national tax on company income, plus state, provincial or municipal corporate income taxes. Sales-based taxes are not included.

The study investigated the basic infrastructure and bureaucracy required to get a small business going, such as local taxes, regulatory freedom, and the average time frame it takes in each city to start a new limited liability company.

Analysts at Oberlo said in their survey report: “As we believe that opportunity should always be afforded on a level playing field, we also looked into the support systems available for female founders in each location.”