A business model is a compact, simplified view of a business, designed for a holistic description and analysis of the entire system of interconnected business processes in a company.
In this review, we will mainly consider Business models that are used on the Internet.
Business models on the Internet are both simple and complex. A simple model is the concept of an online retailer – a company buys goods and uses online channels to sell them. According to a more complex model, large information portals work – they see many options for monetization (from selling ads to publishing paid articles), which requires an analysis of the sources of profit and their optimization in order to increase revenue.
Economic Substance Regulations Reporting Assistance
File your notifications accurately before the June 30th deadlineFile your notifications accurately before the June 30th deadline
• Understand the ESR provisions for your business
• Confirm what Economic Substance Regulations apply to your business
• Get your latest financial statements reviewed by experts
• Get assistance in preparing your Economic Substance Notification & Return
• File your Economic Substance Notification with the relevant authority
• Build an action plan to better achieve Economic Substance Test Parameters
• Avoid fines and penalties
From January 1, 2020 onwards, relevant entities within the scope of the Regulations are required to prepare and submit economic substance declarations to their relevant regulatory authority, and may be required to meet an Economic Substance Test.
The Human Resources Policy is implemented by the administration with the aim of forming a team of the required number of employees with:
Elements of Human Resources Policy:
• Sources of new personnel
• Requirements and criteria for recruitment
The Concept of Internal Control
One of the main functions of accounting is its protective function, which consists in ensuring the protection of the interests of the owner by creating a base for financial control. However, the implementation of a protective function requires the availability of controls. First of all, this is internal control.
Under internal control is understood a system of measures organized by the management of the enterprise and implemented at the enterprise with the aim of the most efficient performance by all employees of their duties in performing business operations. This implies not only and not so much the functioning of the control and audit unit of the organization, but the creation of a comprehensive control system, when it is the business of not only the auditor, but the entire management apparatus of the enterprise.
Internal Audit Review
Now internal audit touches on a wider range of various aspects of the organization’s activities, helping management to identify and evaluate risks and develop measures aimed at reducing risks and improving the efficiency of systems and processes.
Internal audit is critical to managing company performance.
This provides confidence in the management of key risks in the company:
• Making informed decisions
• Improving the effectiveness of the organization
Our clients often consult with our company CAPEX on issues related to Internal Audit, Business Risk
Starting your business, you should consider a number of issues related to taxes. Business tax planning is a complex field and it is important to understand three main topics:
• Tax consequences when a business is formed
• Tax consequences when a business is already generating profit or loss
• Tax consequences of business distribution
What are the tax implications of starting a business?
When a business is formed, the owner, as a rule, transfers cash or property to the Business in exchange for a share in the business. It is important to understand the possible tax consequences of this exchange. The tax regime varies depending on the type of organization you choose. In addition, you need to know about the concept of “loading” and the tax consequences of transferring a property encumbered with obligations to a corporation.
Why Cash Flow is More Important
Cash flow is the lifeblood of any business
The goal of all business owners should be to have more cash. Cash is used to finance your salary, cover your overhead, pay your suppliers and purchase equipment.
Without a healthy and constant cash flow, your business will not survive. If you run out of money, then it’s time to pack.
Your profit is what remains after you have paid all your expenses, and this is what your tax is calculated on. This may seem strange, but there were enterprises that went bankrupt, still reporting a profit, and that was because their cash flow was insufficient. Therefore, it is important to focus on making healthy profits and the fact is that it is your cash flow that supports your business.
4 Steps to Starting a Business in Dubai
Now, as never before, the best time to open a business in Dubai, UAE. The UAE is expected to grow in the Persian Gulf in 2021, as the flow of new tourists will sharply increase after the opening of the borders from July 01, 2020. The UAE is expected to significantly outperform the region’s largest economy, Saudi Arabia.
Dubai is the commercial capital of the United Arab Emirates. This city provides great business opportunities. An international presence and investor-friendly government are just two factors that encourage entrepreneurs to start business in Dubai. Startups in Dubai also receive incentives for investment and tax benefits compared to other countries.
Our company CAPEX is ready to help you in all areas of your Business development in the UAE region.
Collaboration is a powerful tool for all owners of small and large businesses, regardless of which industry you are in or what type of business you have. It is the relationships that you form with others, and the various ways of working with those people with whom you have created relationships that will help you take your business to the next level.
It is very important to go beyond what you do and see every day in order to explore new collaborations, this will help inspire you and help you think in new ways.
Cash Flow Checklist
Cash flow or cash flow, cash flow, cash-flow, cash-flow – a combination of time-distributed receipts (inflows) and payments (outflows) of money generated by the economic activities of an enterprise, regardless of the sources of their formation and appearance.
Cash flow is one of the most important concepts of financial analysis, financial planning and financial management.
The concept of cash flow includes various types of flows associated with economic activity. Streams can be classified on various grounds.
Accounts Payable Management
Probably, it will not be an exaggeration to say that debt, the constant companion of mankind, has firmly entered our life and penetrated into all its spheres.
A special place in the life of modern society is occupied by monetary debt obligations. Their scope and prevalence are diverse. From a few rubles borrowed from a friend for a couple of days, to billions of dollars of government debt, which is almost never completely repaid. But the priority in terms of size, diversity, frequency and complexity of debt obligations belongs to economic entities: companies and other institutions engaged in entrepreneurial activities.
Accounts receivable are legally enforceable claims for payment withheld by an entity for delivered goods and / or services that customers ordered but failed to pay. As a rule, they represent invoices issued by the enterprise and delivered to the client for payment within an agreed period of time.
Accounts receivable are recorded in the balance sheet as an asset. This is one of a series of accounting operations related to billing a customer for goods and services that a customer has ordered. They can be distinguished from receivables, which are debts created using official legal instruments called promissory notes.
Abu Dhabi is the capital of the United Arab Emirates and the Emirate of Abu Dhabi. The political, industrial, commercial and cultural center of the country, its contribution to the UAE’s GDP exceeds 56% (2008). The population of the city is 1,145,000 inhabitants (2013 data). Previously, the city was called Abu Zabi.
Abu Dhabi was founded around 1760. There is archaeological evidence of the existence of a settlement on this site from the 3rd millennium
Dubai is the largest city in the United Arab Emirates and a deep-sea seaport, the administrative center of the emirate of Dubai, the most important trade and financial center of the UAE and the entire Middle East. Located on the shores of the Persian Gulf.
Between 1954-1971, Oman was the administrative center of the British protectorate. In Dubai, a variety of international conferences, festivals, exhibitions, etc. are held, it is planned to hold the world exhibition Expo 2021 (in the Ibn-Battuta region -> DIP). It is planned to open the metro and Al Maktoum International Airport.
The Main Areas of the UAE
The main areas of the United Arab Emirates:
– Bur Dubai – the historical center
– Gardens – sleeping area
– Downtown – a business district under construction in the city
– Deira – the eastern trading part of the city
– Jumeirah – seaside residential area
– Dubai Marina – a residential area around the man-made bay
Sharjah – emirate in the UAE with the capital of the same name. Among the seven emirates that make up the country, it occupies the third place both in terms of area and population.
The emirate includes exclaves in the east of the country: Kalba, Dibba Al-Izn and Korfakkan. Near Sharjah is the second most important city in the UAE Dubai. The symbolic border between the cities is the road junction, which is half in Sharjah and half in Dubai.
The form of government is a constitutional monarchy. The ruler of the emirate is Sheikh Sultan bin Muhammad al-Qasimi.
• Adm. Sharjah center
• Emir Sultan III bin Muhammad al-Qashimi
• Date of foundation December 2, 1971
• Area 2,590 km² (3rd place)
• Height 174 m
• Population of 895,252 people. (for 2008) (3rd place in the UAE)
• Density 345.66 people / km² (3rd place)
Ras Al Khaimah
Ras al-Khaimah (the top of the tent) – the emirate in the north of the United Arab Emirates. The capital is Ras al-Khaimah. The area of the emirate is 2478 km², the population is 241,000 people (for 2009). The emirate has developed agriculture and fishing. Ras al-Khaimah running half marathon is held annually.
– Adm. Ras Al Khaimah Center
– Emir Saud bin Sakr al-Qashimi
– Date of foundation 1869
– Area 1,683 km² (4th place)
– Height 2 m
– The population of 241,000 people. (for 2009) (5th place)
– Density of 97.25 people / km² (5th place)
– The official language is Arabic
– Official website https://www.rak.ae/
Fujairah (Al Fujairah)
Al-Fujairah (Fujairah; Arab, dawn) – the emirate in the United Arab Emirates. The capital is Al Fujairah. Area – 1166 km², population – 137,940 people (2008).
Unlike other emirates, it is located on the shores of the Gulf of Oman of the Indian Ocean. The territory of Al Fujairah stretches along the bay for more than 90 kilometers. A significant part of the territory of Fujairah is occupied by mountains, approaching the coast almost close to it.
Al Fujairah is the youngest emirate of the UAE. Originally part of the emirate of Sharjah. In 1901, the local sheikh proclaimed the independence of Al Fujairah from Sharjah, but England recognized it only in 1953. In 1892-1971 the territory of Al Fujairah was part of Treaty Oman. Since 02/02/1971 as part of the UAE.
Umm al-Qaiwain (Arab, source of strength) – emirate as part of the UAE. The capital is Umm al-Qaiwain. Area – 777 km², population – 69 936 people.
In the south it borders with the emirate of Sharjah, in the northeast – with the emirate of Ras al-Khaimah. In the northwest is the Persian Gulf coast with a length of 24 kilometers. The territory extends to a depth of approximately 32 kilometers.
The independent sheikh Umm al-Qaiwain was founded in 1775 by the Arab clan al-Mualla. The UAE joined the UAE on December 2, 1971.
Ajman is the smallest emirate in the United Arab Emirates. The capital is Ajman. Area – 259 km² (0.3% of the country), population – 372 923 people (2008).
The UAE joined the UAE on December 2, 1971.
Ajman is a very relaxing place to relax on the white beaches. It will appeal to those who want to save on the cost of hotel accommodation and at the same time easily get to the entertainment of Dubai. Ajman’s beaches stretch for 16 km. On many beaches there is white sand, the photos from the beach are just wonderful. Palm trees grow on a strip of sand, creating a natural shadow. The entrance to the water is gentle, which is convenient for families with children.
Population of the UAE in 2020
– 9,985,338 population
– 6,936,641 The male population (69.5%)
– 3,048,698 Female population (30.5%)
– 90,666 Born this year
– 157 Born today
In 2019, the population of the United Arab Emirates will increase by 186 122 people and at the end of the year will be 10 018 218 people. Natural population growth will be positive and amount to 95,076 people. For the whole year, approximately 110,119 children will be born and 15,043 people will die. If the level of external migration will remain at the level of the previous year, then, due to migration reasons, the population will change by 91.045 people. That is, the total number of people entering the country for the purpose of long-term stay (immigrants) will be more than the number of people leaving the country (emigrants).
The Ethnic Composition of the UAE
Ethnic Arabs and indigenous people make up less than half the population. Most of all in the country of the Middle East live Indians, Pakistanis. In the UAE, the number of citizens from Bangladesh (700 thousand – 1 million), Iran, the Philippines (500 thousand), Egypt, Nepal, Sri Lanka (400 thousand), and Saudi Arabia is increasing every year. In the United Arab Emirates live 250 thousand Russians, residents of the CIS countries. The UAE is popular among Russians, Europeans in the tourism industry. About half a million Russian citizens visit the country every year.
Life in Dubai
Ethnic Arabs and indigenous people have privileges compared with immigrants. Indigenous people receive financial support from the state in social spheres and hold leadership positions. Free education, housing, the provision of jobs, the absence of tax obligations ensures UAE citizens a high material standard of living.
The territory of the emirates has its own laws based on Sharia. According to Islamic rules, UAE residents are prohibited from selling alcohol without a license, which is issued only to local citizens. In the emirate of Sharjah, it is allowed to buy alcohol only in the duty-free shop. It is forbidden to appear in public places while intoxicated. In the emirates, it is forbidden to publicly hug and kiss. Dubai tourists face a fine or imprisonment for smoking electronic cigarettes, using illegal drugs, swearing, aggressive gestures.