As Dubai continues to move ahead with more small and medium sized businesses, their number grew further with issuance of 2394 new licenses in June. Nearly 7600 new jobs were created, the data being gathered from various sectors.
The highest number of licenses issued (approximately 58.5%), were in the professional category. There were around 38.9% commercial licenses, 1.9% licenses in tourism sector and 0.7% industrial licenses as per information gained from Department of Economic Development (DED).
As Dubai continues to move ahead with more small and medium sized businesses, their number grew further with issuance of 2394 new licenses in June. Nearly 7600 new jobs were created, the data being gathered from various sectors.
The highest number of licenses issued (approximately 58.5%), were in the professional category. There were around 38.9% commercial licenses, 1.9% licenses in tourism sector and 0.7% industrial licenses as per information gained from Department of Economic Development (DED).
People of various nationalities got licenses. Starting from maximum and moving towards minimum, Bangladesh, India, Pakistan, Egypt and Britain are the chief license gaining nationalities. Jordan, Saudi Arabia, Philippines and Lebanon also carried some licenses, though in lesser numbers
As per the DED report, 22759 licensing transactions and business registrations took place in June 2019. 87% of these results, around 19,912 transactions, were done by outsourced service centres.
License renewal accounted for 10,417, out of which 5,335 i.e. more than 50% were auto-renewals through text messages, the report said.
Of the total transactions that took place in June, 3593 transactions were about trade name reservations while 2905 initial approvals also took place. Total commercial permits reached 906 in June
Licenses that are issued in a single step also saw a rise in June 2019. These do not need either existing location for the first year or the Memorandum of Association. Such 250 instant licenses were issued by the department. 219 DED trader licenses were also issued that allow conduction of business activities on social media.
Among all the new licenses that were issued in June 2019, real estate, business services and leasing accounted for about 38.8 % as per economic activity distribution. Trade and repair industry totalled upto 27.1% while community and personal services accounted for 12.6% of the total licenses. 8.3% belonged to building and construction services, and 4.5% to storage, communcations and transport. 3.4% belonged to hotels group, 2.4 to manufacturing, 1.5% to financial brokerage, 0.6% to health and labour, 0.5% to education, and 0.3% to agriculture.
The highest share of licenses were issued in the Bur Dubai area where 1399 licenses were issued. Next topper was Dierra with 993 licenses and then Hatta. Accounting for 64.8% transactions, the top sub regions were Al Garhoud, Al Barsha, Burj Khalifa, Al Fahidi and Port Saeed with 13.4%, 12.2%, 10.3%, 10.1%, 5.3% shares respectively. Besides, Dubai World Trade Centre 1 and Oud Metha accounted for 3% transactions, Umm Al Ramoul and Ul Marrar 2.8% each, and Naif 1.9%.
