Accountants May Find Opportunities with Dubai SMEs and Startups

NAccountants across Dubai are finding that servicing the small to medium sized companies as well as hopeful entrepreneurs is a lucrative business model. While the majority of accountant in Dubai work for major corporations and handle just interal accounting, tighter rules on obtaining seed funding for starting or growing a small business is creating opportunities for accountants that may be overlooked when an accountant is seeking employment opportunities in Dubai.

Few banks are lending to startups or small businesses due to the economic situation in both Dubai and throughout the rest of the world. Taking the place of traditional commercial credit cards and microloans is Angel Funding. Angel Funding involves a lot of networking, and very good financial records.

When a startup or small business hopes to obtain funding from one of Dubai’s influential private investors, it must have a solid track record of financial stability. The only way to prove such stability is through detailed and thorough accounting. More startups, small and medium enterprises are looking to the local accounting firms to help them prove their worth to these Angel Investors.

There is little doubt that the banks will follow suit and begin lending to these smaller companies, but the rules for obtaining business credit will be stringent to avoid past mistakes. Accountants thinking of a career move to Dubai may want to consider thinking outside the box and looking for opportunities with firms that service the little guys, or consider striking it out on their own to take advantage of this new type of demand.