How to Find Funding for Your Business as A Mumpreneur in Dubai

Are you a mum in Dubai looking to start your business in Dubai? Dubai has a thriving business community and fantastic infrastructure, and to top it all up, it is the world’s center in business. If you are an aspiring mumpreneur, Dubai is one of the best places to start your business. If you are a budding mumpreneur, what’s holding you back?

 Many mumpreneurs fail to start due to finances, which is understandable since finances are often very tight at the beginning of a business. However, the good news is finances do not have to hold you back. First, starting a business is very affordable, and there are several ways for you to get funding and achieve your entrepreneurial dreams.

In this article, we will take a look at some of the ways you can raise capital for your business:

From Family and Friends

While asking for money from your friends and family can seem daunting, it might be one of the best plans to get funding before going for external funding. However, before you start, make sure you have a business plan prepared.

The business plan should explain exactly what you want to start selling. You should also include a demo or sample of the product, the risk factors, potential sales, and how you will make money. Be very honest and realistic with your projections so they will understand. It is also important to tell them if you want the money as a gift, investment, or loan.

Get A UAE Bank Loan

While many people believe that getting a business bank loan is reserved for big companies, many UAE banks are happy to lend to promising mumpreneurs. Acquiring the loan can be complex, but it will be worth it in the end.

The United Arab Emirates is built for business, so if you meet all the conditions to get credit, you will get many institutions that will be happy to offer you some funds. It is important to note that the conditions vary from one bank to another, with other banks being suited more for startups than others. You might also be required to put some collateral on your loan. So getting a bank loan is a viable option if you meet any of these criteria.

Crowdfunding

Crowdfunding has become very popular in recent years. It is used to provide funding for both small and large businesses. Crowdfunding is one of the best ways to raise funds from different sources, including friends, family, and other investors who see potential in your business.

Angel Investors

If crowdfunding and sourcing from family and friends is not viable, you can reach out to an angel investor. These are high-net-worth individuals, entrepreneurs, and family offices looking to invest in promising ventures to diversify and mentor budding entrepreneurs or give back.

To get an angel investor in the United Arab Emirates, you can ask other mumpreneurs for referrals or check out CruchBase, Angel.co, Wamda, Magnitt among others. Angel investors offer equity or business loans to your business, and on top of that, they hold monthly events—pool in funds, competitions, and business connections.

Venture Capital

If you are looking for serious funding (within the range of $1 million), you might want to turn to institutional investors or venture capitalists who invest on behalf of their clients. The UAE has over 30 Venture Capital firms that invest different amounts based on your company’s sector, stage, and location, among other factors.

A Business Incubator

If your business is not ready for venture capital, you can secure a place in a UAE business incubator. These are supportive environments designed for business at every stage, from the ideation stage, financing, product launch, and finally, growth. Many incubators in the UAE are designed to support women in business, including She Leads and Dana Ventures, among others.

Sell on Mumsbuzzar

Mumsbuzzar is an e-commerce platform designed to help you sell all your organic products and eco-friendly business services from the comfort of your home. Our platform is skillfully designed to allow us to market your business to your target audience and help you increase your sales. At the same time, you get to focus on providing your customers with high-quality products and services.